MGM Q2 net revs $3.9B (+21% YoY); MGM China EBITDAR $209M vs -$52M; $626M buyback; Marriott licensing deal

MGM Resorts International

2023-Q2 EPS reported $1.80 revenue$7,815,503,000

Consolidated net rev $3.9B (record), +21% YoY; diluted EPS $0.55 vs $4.20 (prior year had $2.3B gain on MGP sale).
MGM China net rev $741M (+418% YoY, +5% vs Q2 2019); Adj Property EBITDAR $209M vs -$52M; margin 28.3%.
Las Vegas Strip net rev $2.1B (flat YoY); Adj Property EBITDAR $777M (-6% YoY); margin 36.2% vs 38.6%.
Repurchased ~15M shares for $626M in Q2; $1.4B remaining under buyback plan as of June 30.
Announced long-term license agreement with Marriott International to expand customer booking channel and drive profitability.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MGM Resorts International reported the quarter ended June 30, 2023 results: revenue $3.9 billion, net income $201 million, EPS $0.55.

Period: the quarter ended June 30, 2023
Revenue: $3.9 billion
Net income: $201 million
EPS: $0.55
Result: reported results

Exact text from the filing

said Jonathan Halkyard, Chief Financial Officer and Treasurer of MGM Resorts. Second Quarter 2023 Financial Highlights: Consolidated Results • Consolidated net revenues of $3.9 billion, an increase of 21% compared to the prior year quarter, due primarily to the removal of COVID-19 related entry restrictions in Macau; • Operating income was $371 million compared

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Source: SEC EDGAR

accession 0000789570-23-000018

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