MGM Resorts Q3: net rev $4.0B, EPS $0.46, adj EPS $0.64; new $2B buyback

MGM Resorts International

2023-Q3 EPS reported $2.28 revenue$11,788,686,000

Q3 net revenue $4.0B (+16% YoY); net income $161M vs loss $577M; diluted EPS $0.46 vs -$1.45.
Adjusted EPS $0.64 vs -$1.39; consolidated Adjusted EBITDAR $1.1B.
Las Vegas Strip net rev $2.1B (-8%) due to Mirage sale and Sept cybersecurity issue; occupancy 92%.
MGM China net rev $813M (+829%) as Macau restrictions lifted; Adj. Property EBITDAR $226M.
Repurchased $572M shares in Q3; board authorized new $2B repurchase plan.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

MGM Resorts International reported the quarter ended September 30, 2023 results: revenue $4.0 billion, net income $161 million, EPS $0.46.

Period: the quarter ended September 30, 2023
Revenue: $4.0 billion
Net income: $161 million
EPS: $0.46
Result: reported results

Exact text from the filing

Consolidated net revenues of $4.0 billion, an increase of 16% compared to the prior year quarter, due primarily to an increase in revenue at MGM China due to the removal of COVID-19 related entry restrictions in Macau, partially offset by the decrease in revenues at our Las Vegas Strip Resorts and Regional Operations due to the dispositions of The Mirage and Gold Strike Tunica as well as the cybersecurity issue in September 2023;

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Source: SEC EDGAR

accession 0000789570-23-000022

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