MGM Room Rates Fell in Q3. What Visitors Should Know

The Las Vegas Review-Journal reported that MGM's Las Vegas Strip revenue declined 2 percent year over year to $1.95 billion in the quarter, while segment adjusted EBITDAR fell 12 percent to $531 million. The hotel side was the main drag. MGM's earnings release puts room revenue at $622 million, compared with $660 million in the same quarter of 2025, with occupancy unchanged at 89 percent and revenue per available room down 8 percent to $193.

Casino business moved the other way. The Review-Journal reported Las Vegas casino revenue rose 8 percent to $488 million, helped by stronger table-game and slot results. In plain English, MGM did not report an empty Strip. It reported a quarter in which its hotels brought in less per occupied room, while the casino floor performed better. That distinction matters because the headline is about pricing pressure, not a reason to expect a quiet casino or an open table everywhere you go.

A companywide quarterly average is not a rate calendar. MGM uses changing prices by date, demand, room type and property, and the number that matters to a traveler is still the total shown at checkout. Resort fees, parking, taxes and a flight schedule can erase what looks like a bargain in the first search result. Compare the same stay across a few MGM properties, then look at the full total before deciding that a lower nightly rate is actually lower.

The timing also matters. These results cover July through September, not every travel date ahead. MGM president and CEO Bill Hornbuckle said in the company's release that October had rebounded favorably after the weaker third-quarter room rates. That is management's view, not a published promise about a particular weekend. Travelers considering November race dates, New Year's Eve or a sold-out concert should still expect demand to set the price.

Use the softer quarter as a cue to check, not as a reason to rush. Search a few flexible date combinations, including Sunday through Thursday, and compare nearby MGM options with different price points. Park MGM and New York-New York can price very differently from Aria or Bellagio on the same dates, while Mandalay Bay can make sense when your plans are south Strip. If the location matters more than the brand, compare a non-MGM hotel in the same neighborhood too.

Once you find a rate you like, take a screenshot or save the booking details and keep checking the refundable rate before the cancellation deadline. Rates can move in either direction as group business, events and inventory change. The third-quarter figures tell us MGM faced lower room pricing during the late summer. They do not guarantee that a later Saturday, convention week or event weekend will get cheaper after you book.