MGM Resorts International
MGM Resorts Reports Record Q1 2024 Results
Summary
MGM Resorts International reported record first-quarter 2024 financial and operating results, driven by strong performances in Las Vegas and MGM China. Consolidated net revenues increased by 13% to $4.4 billion, with net income attributable to MGM Resorts at $217 million. Adjusted EBITDAR was $1.2 billion, and free cash flow was $377 million. The company repurchased 12 million shares, reducing its total share count by 36% since 2021.
Profitelligence Alerts
Get alerts for MGM
Be first to know when MGM Resorts International files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About MGM Resorts International
MGM Resorts International operates as a global hospitality and entertainment company, known for its luxury accommodations, high-profile casino resorts, and vibrant live entertainment options. The company's primary function revolves around offering unparalleled leisure experiences through its integrated resort offerings, which include numerous world-renowned properties such as the Bellagio, MGM Grand, and Mandalay Bay located in Las Vegas. MGM Resorts International also extends its influence beyond gaming and hospitality with ventures into gastronomy, retail, and convention services, thereby impacting sectors like tourism, real estate, and gastronomy. The firm plays a significant role in the leisure and hospitality industry, both within the United States and internationally, with properties in Asia and plans for future developments. MGM Resorts is crucial for the economy of entertainment hubs, contributing to employment and regional economic activity. As a prominent player in the gaming and resort space, it continuously adapts to industry trends, such as leveraging digital solutions and expanding online gaming platforms, further cementing its standing in the dynamic landscape of global hospitality.
Official SEC Documents
Advertisement