MGM — what changed in the latest 10-Q
A section-by-section comparison of MGM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-28 vs the prior 10-Q · 2026-07-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +29 | −24 | ~26 | 68 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-28
In March 2026, we entered into an agreement to sell the operations of MGM Springfield to private equity funds managed by Clairvest Group Inc. for $443 million, subject to certain purchase price adjustments. The agreement provides for several termination rights if certain events do not occur, or do n…
In September 2026, MGM Digital ceased operations in Brazil pending resolution to a government order temporarily banning fixed-odds betting and online casino games.
Operating income was $119 million for the three months ended September 30, 2026 compared to a loss of $113 million the prior year quarter due primarily to $256 million of a goodwill impairment charge and $93 million of other write-downs and impairments related to Empire City recorded within “Propert…
Las Vegas Strip Resorts revenues decreased 2% or $30 million for the three months ended September 30, 2026 compared to the prior year quarter due to a decrease in room revenue due to lower ADR as well as a decrease in entertainment revenue from our venues, partially offset by an increase in casino r…
Las Vegas Strip Resorts revenues were flat for the nine months ended September 30, 2026 compared to the prior year period due primarily to an increase in casino revenue, which benefited from a higher table games win percentage, and an increase in food and beverage revenue, driven by an increase from…
Text removed vs the prior filing · source: 10-Q · 2026-07-29
Operating income increased 24% for the three months ended June 30, 2026 compared to the prior year quarter due primarily to a $287 million gain in “Property transactions, net” for the current quarter, of which $255 million related to the gain on sale of the operations of MGM Northfield Park, partial…
Las Vegas Strip Resorts revenues increased 3% or $55 million for the three months ended June 30, 2026 compared to the prior year quarter and increased 1% or $60 million for the six months ended June 30, 2026 compared to the prior year period due primarily to casino revenue, which benefited from a hi…
MGM China revenues decreased 1% or $9 million for the three months ended June 30, 2026 compared to the prior year quarter due primarily to a $21 million decrease in casino revenue primarily due to a decline in table games volume, partially offset by the increase in main floor table games win percent…
MGM China revenues increased 4% or $85 million for the six months ended June 30, 2026 compared to the prior year period due primarily to a $60 million increase in casino revenue driven primarily by main floor table games win percentage.
Las Vegas Strip Resorts Segment Adjusted EBITDAR increased 3% for the three months ended June 30, 2026 compared to the prior year quarter. Las Vegas Strip Resorts Segment Adjusted EBITDAR margin was 33.9% for the three months ended June 30, 2026, compared to 33.6% in the prior year quarter due prima…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice