MGM Resorts reports record Q1 revenue $4.4B (+13% YoY); MGM China EBITDAR +78%

MGM Resorts International

2024-Q1 EPS reported $0.67 revenue$4,383,470,000

Consolidated net revenues $4.4B (+13% YoY); net income $217M ($0.67 diluted EPS) vs $467M ($1.24) prior year, impacted by $398M Gold Strike gain in prior quarter.
Adjusted EPS $0.74 vs $0.44; Consolidated Adjusted EBITDAR $1.2B; Free Cash Flow $377M.
MGM China net revenues $1.1B (+71%); Adjusted Property EBITDAR $301M (+78%), driven by Macau recovery.
Las Vegas Strip Resorts net revenues $2.3B (+4%); Adjusted Property EBITDAR $828M (-1%). Regional Operations net revenues $909M (-4%) and EBITDAR $274M (-12%).
Repurchased 12M shares for $511M in Q1; remaining buyback authority $1.7B. Marriott license delivered 130k room nights since Jan launch.

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 financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: reported results

Exact text from the filing

This current report on Form 8-K is being furnished to disclose the press release issued by the Registrant on May 1, 2024. The purpose of the press release, furnished as Exhibit 99.1, was to announce the Registrant’s results of operations for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000789570-24-000013

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