secwatch.observer — SEC 8-K summary
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Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0000789570-22-000036
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGM Resorts Q3 revenue $3.4B (+26% YoY) but net loss $577M on Macau impairment; Las Vegas Strip record EBITDAR $846M
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- Consolidated net revenues of $3.4B, up 26% YoY; operating loss of $1.0B due to $1.2B noncash amortization on Macau subconcession.
- Net loss attributable to MGM Resorts of $577M vs net income of $1.4B in prior year; diluted loss per share $1.45.
- Adjusted EPS loss of $1.39; prior year adjusted EPS was +$0.03.
- Las Vegas Strip Resorts record: revenues $2.3B (+67%), Adjusted Property EBITDAR $846M (+58%); same-store EBITDAR up 8%.
- MGM China revenues down 70% to $87M; Adjusted Property EBITDAR loss of $70M due to COVID restrictions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000078957022000036/0000789570-22-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000078957022000036/mgm-20221102.htm
  HTML page:      https://secwatch.observer/filing/0000789570-22-000036

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