MGM reports record Q3 revenue of $4.2B, up 5% YoY; net income rises to $185M

MGM Resorts International

2024-Q3 EPS reported $1.88 revenue$12,893,983,000

Record consolidated net revenues of $4.2B (+5% YoY); net income $185M ($0.61 EPS) vs $161M ($0.46) YoY.
MGM China net revenues $929M (+14%); Adjusted Property EBITDAR $237M (+5%).
Las Vegas Strip Resorts revenue $2.1B (+1%); Adjusted Property EBITDAR $731M (+2%), boosted by $37M cyber insurance proceeds.
BetMGM record net revenues up ~20% YoY; MGM announced Brazil venture with Grupo Globo for BetMGM brand.
Share repurchases $326M in Q3, ~$1.3B YTD; shares outstanding reduced 40% since 2021.

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