MGM Resorts International reported revenue of $4.3 billion and record EBITDAR in Macau for the the second quarter just passed.
“MGM Resorts continued to drive positive financial results and solid growth in the second quarter, with record MGM China adjusted property EBITDAR and further growth in Las Vegas, where our Marriott relationship continues to exceed expectations and our meetings and convention business continues to strengthen thanks to our recently completed remodel of Mandalay Bay,” said MGM Resorts International CEO and President Bill Hornbuckle in a statement. “We made significant progress with our international digital strategy by adding both an in-house sports product and live-dealer capabilities to our online gaming offerings. We anticipate carrying our current momentum into the back half of the year.”
The company recently added Tipico, an online sports betting provider, to its roster.
Other results:
- Consolidated net revenue of $4.3 billion, an increase of 10% compared to the prior-year quarter.
- Net income of $187 million in the current quarter compared to $201 million in the prior-year quarter.
- Consolidated adjusted EBITDAR reached $1.2 billion.
- Las Vegas Strip properties generated $2.2 billion compared to $2.1 billion in 2Q23.
- Regional properties had net revenue of $927.0 million in the current quarter, which was flat compared to the prior year.
- Macau properties had net revenue of $1.0 billion in the quarter compared to $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%.
