Image source: The Motley Fool. Wednesday, Feb. 11, 2026 at 5 p.m. ET CALL PARTICIPANTS Chief Executive Officer — William Joseph Hornbuckle Chief Financial Officer & Treasurer — Jonathan S. Halkyard Chief Operating Officer — Ayesha Molino Chief Executive Officer, MGM China — Kenneth Zhang TAKEAWAYS Consolidated Net Revenue Growth -- 6% increase reported, positioning the company for further progress...
Image source: The Motley Fool. Wednesday, Feb. 11, 2026 at 5 p.m. ET CALL PARTICIPANTS Chief Executive Officer — William Joseph Hornbuckle Chief Financial Officer & Treasurer — Jonathan S. Halkyard Chief Operating Officer — Ayesha Molino Chief Executive Officer, MGM China — Kenneth Zhang TAKEAWAYS Consolidated Net Revenue Growth -- 6% increase reported, positioning the company for further progress. -- 6% increase reported, positioning the company for further progress. Record EBITDA in Macau -- Achieved record fourth quarter and full year EBITDA in the Macau segment, driven by premium mass customers and stable high margins. -- Achieved record fourth quarter and full year EBITDA in the Macau segment, driven by premium mass customers and stable high margins. Market Share in Macau -- MGM China reached 16.5% share in the quarter and maintained above 16% for the full year, the highest annual level in company history. -- MGM China reached 16.5% share in the quarter and maintained above 16% for the full year, the highest annual level in company history. Las Vegas EBITDAR Decline -- 4% year-over-year decrease in the fourth quarter, offset by stabilization trends and room inventory return. -- 4% year-over-year decrease in the fourth quarter, offset by stabilization trends and room inventory return. MGM Grand Room Renovation Impact -- $65,000,000 total EBITDA disruption in 2025, with the room inventory now fully available. -- $65,000,000 total EBITDA disruption in 2025, with the room inventory now fully available. BetMGM EBITDA Turnaround -- Achieved nearly $470,000,000 improvement in annual EBITDA and distributed $135,000,000 to MGM in the quarter. -- Achieved nearly $470,000,000 improvement in annual EBITDA and distributed $135,000,000 to MGM in the quarter. BetMGM 2026 Guidance -- Adjusted EBITDA guidance set at $300,000,000 to $350,000,000, with $50,000,000 in expected CapEx. -- Adjusted EBITDA guidance set at $300,000,000 to $350,000,000, with $50,000,000 in expected CapE...