MGM Q1 2021 Earnings Report
Key Takeaways
MGM Resorts International reported consolidated net revenues of $1.6 billion, a decrease of 27% compared to the prior year quarter. The company's regional properties achieved record first quarter Adjusted Property EBITDAR and Adjusted Property EBITDAR margins. The company reported a net loss attributable to MGM Resorts of $332 million.
Consumer demand strengthened at domestic properties.
Regional properties achieved record first quarter Adjusted Property EBITDAR and Adjusted Property EBITDAR margins.
Las Vegas operating results improved sequentially.
MGM China continued to outperform the broader Macau market’s gradual pace of recovery.
MGM
MGM
MGM Revenue by Segment
Forward Guidance
MGM is focused on long-term goals including investing in digital to drive deeper customer engagement and BetMGM. The company's robust liquidity position provides significant flexibility amid an improving operational backdrop. MGM has begun to return capital to shareholders through share repurchases during the first quarter and will be disciplined in allocating capital by maintaining a strong balance sheet, pursuing targeted growth opportunities and returning cash to shareholders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income