{
  "report_rows": [
    {
      "kpi": "Consolidated adjusted EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$635M vs. cons $623.1M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Las Vegas property EBITDAR",
      "prediction": "IN-LINE",
      "answer": "pred ~$725M vs. cons $719.5M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "MGM China property EBITDAR",
      "prediction": "MISS",
      "answer": "pred ~$272M vs. cons $278.0M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Las Vegas EBITDA outlook (FY26)",
      "prediction": "UNCHANGED",
      "answer": "reiterate growth; implied ~$2.81B vs. cons $2.807B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "MGM China margin outlook (FY26)",
      "prediction": "UNCHANGED",
      "answer": "reiterate mid-20s margin; consensus UNVERIFIED",
      "confidence": "LOW"
    },
    {
      "kpi": "MGM Digital / BetMGM profitability commentary (FY26)",
      "prediction": "UNCHANGED",
      "answer": "reiterate narrower losses / returns focus; consensus UNVERIFIED",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -2.0,
  "day1_confidence": "LOW",
  "day5_residual_pct": -3.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH \u2014 Macau miss pressures forward estimates",
  "day5_confidence": "LOW"
}