MGM Resorts International reported revenue of $4.3 billion and record EBITDAR in Macau for the second quarter, which just ended.
MGM Resorts International CEO and President Bill Hornbuckle said:
MGM Resorts continued to deliver positive financial results and solid growth in the second quarter, with record adjusted EBITDAR at MGM China and continued growth in Las Vegas, where our relationship with Marriott continues to exceed expectations and our meetings and conventions business continues to strengthen with the recently completed renovation of Mandalay Bay. We have made significant progress in our international digital strategy, adding both an in-house sports product and live dealer capabilities to our online gaming offerings. We expect to continue our current momentum into the second half of the year.
The company’s other achievements:
- The company recently added online sports betting provider Tipico to its roster.
- Consolidated net revenue of $4.3 billion, up 10% from the prior-year quarter.
- Net income of $187 million in the current quarter, up from $201 million in the prior-year quarter.
- Consolidated adjusted EBITDAR reached $1.2 billion.
- Las Vegas Strip properties generated $2.2 billion, up from $2.1 billion in 2Q23.
- Regional properties generated net revenue of $927.0 million in the current quarter, flat from the prior-year quarter.
- Macau properties generated net revenue of $1.0 billion in the quarter, up from $741 million in the prior-year quarter, an increase of 37%.
- MGM Resorts closed at $42.97 on the Nasdaq, up $0.19, or 0.44%.
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