secwatch.observer — SEC 8-K summary
======================================

Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000789570-24-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000078957024000013/0000789570-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000078957024000013/mgm-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000789570-24-000013

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