MGM Resorts Q4 net revenue $3.6B (+18% YoY); record Las Vegas Strip EBITDAR; Board authorizes $2B buyback

MGM Resorts International

2022-FY EPS reported $3.49 revenue$13,127,485,000

Consolidated Q4 net revenues $3.6B (+18% YoY); diluted EPS $0.69 vs $0.23; adjusted EPS loss $1.53.
Las Vegas Strip Resorts Q4 Adjusted Property EBITDAR record $877M (+26% YoY); margin 38.2%.
Full-year 2022 net revenues $13.1B (+36% YoY); net income $1.5B; diluted EPS $3.49.
Board authorized new $2.0B share repurchase plan; suspended regular dividend to prioritize buybacks.
Repurchased $2.8B in shares during 2022 ($352M in Q4); retired 76 million shares.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MGM Resorts International reported the quarter and year ended December 31, 2022 results: revenue $3.6 billion, net income $284 million, EPS $0.69.

Period: the quarter and year ended December 31, 2022
Revenue: $3.6 billion
Net income: $284 million
EPS: $0.69
Result: reported results

Exact text from the filing

our Board of Directors authorized an additional $2 billion for share buybacks.” Fourth Quarter 2022 Financial Highlights: Consolidated Results • Consolidated net revenues of $3.6 billion, an increase of 18% compared to the prior year quarter. The current quarter benefited from the inclusion of the operating results of The Cosmopolitan of Las Vegas ("The

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Source: SEC EDGAR

accession 0000789570-23-000004

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