secwatch.observer — SEC 8-K summary
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Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0000789570-23-000018
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000078957023000018/0000789570-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000078957023000018/mgm-20230802.htm
  HTML page:      https://secwatch.observer/filing/0000789570-23-000018

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