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MGM Resorts International vs Las Vegas Sands: MGM and LVS compared
MGM Resorts International is the larger company: $4.2B of revenue in its latest quarter (Q3 2026) against $3.2B for Las Vegas Sands (Q3 2026). MGM Resorts International is growing faster (-0.9% against -4% a year earlier). Las Vegas Sands is more profitable, with an operating margin of 19.2% against 2.8%.
Where the money goes: MGM and LVS
MGM Resorts International (MGM) · Q3 2026
MGM Resorts International, Q3 2026: revenue $4.2B (-0.9% year over year), operating margin 2.8%, net earnings $39.2M, operating cash flow $532M. The chart follows the revenue to costs, profit and cash.
Las Vegas Sands (LVS) · Q3 2026
Las Vegas Sands, Q3 2026: revenue $3.2B (-4% year over year), operating margin 19.2%, net earnings $304M, operating cash flow $870M. The chart follows the revenue to costs, profit and cash.
| MGM Resorts International (MGM) | Las Vegas Sands (LVS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.2B | $3.2B |
| Revenue growth, Y/Y | -0.9% | -4% |
| Operating margin | 2.8% | 19.2% |
| Net earnings | $39.2M | $304M |
| Net margin | 0.9% | 9.5% |
| Operating cash flow | $532M | $870M |
| Free cash flow | $311M | $589M |
| Market value | $8.2B | $26.3B |
| P/E | 12.3× | 16.8× |
| Analysts’ mean target | $38.42 | $49.57 |
Where the revenue comes from
MGM Resorts International
- Casino: $2.3B (55%)
- Rooms: $763M (18%)
- Food and beverage: $741M (18%)
- Entertainment, retail and other: $403M (10%)
Las Vegas Sands
- Casino: $2.4B (74%)
- Rooms: $376M (12%)
- Mall: $202M (6%)
- Food and Beverage: $176M (5%)
Questions
Which is bigger, MGM Resorts International or Las Vegas Sands?
MGM Resorts International is the larger company: $4.2B of revenue in its latest quarter (Q3 2026) against $3.2B for Las Vegas Sands (Q3 2026).
Is MGM Resorts International or Las Vegas Sands growing faster?
MGM Resorts International is growing faster (-0.9% against -4% a year earlier).
Which is more profitable, MGM Resorts International or Las Vegas Sands?
Las Vegas Sands is more profitable, with an operating margin of 19.2% against 2.8%.
More: MGM Resorts International earnings · how MGM Resorts International makes money · Las Vegas Sands earnings · how Las Vegas Sands makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 23, 2026). Fiscal quarters can end on different dates. Not investment advice.