secwatch.observer — SEC 8-K summary
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Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0000789570-23-000012
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGM Q1 revenue $3.9B (+36%), EPS $1.24, Las Vegas Strip EBITDAR record +41%
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- Consolidated net revenue $3.9B (+36% YoY); diluted EPS $1.24 vs ($0.06); adjusted EPS $0.44 vs $0.01.
- Las Vegas Strip Resorts record Adjusted Property EBITDAR $836M (+41% YoY); margin 38.4% (+271 bps).
- MGM China net revenue $618M (+130%); Adjusted Property EBITDAR $169M (vs loss $26M prior year).
- Repurchased ~12M shares for $487M during quarter; $2.0B remaining under repurchase plan.
- Closed sale of Gold Strike Tunica, received Osaka development certification, and LeoVegas agreed to acquire Push Gaming.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000078957023000012/0000789570-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000078957023000012/mgm-20230501.htm
  HTML page:      https://secwatch.observer/filing/0000789570-23-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer