MGM Q1 2022 Earnings Report
Key Takeaways
MGM Resorts International reported consolidated net revenues of $2.9 billion, a 73% increase compared to the prior year quarter. The company reported a net loss attributable to MGM Resorts of $18 million, compared to a net loss of $332 million in the prior year quarter. Adjusted diluted earnings per share was $0.01, compared to an Adjusted EPS loss per share of $0.68 in the prior year quarter.
Las Vegas Strip Resorts and Regional Operations Adjusted Property EBITDAR increased 47% and 48%, respectively, compared to the first quarter of 2019.
MGM announced offer to acquire global online gaming company LeoVegas for a total tender value of approximately $607 million.
The company repurchased $2.8 billion of shares of common stock since January 2021.
MGM closed transaction with MGP to VICI and continue to pursue a commercial gaming license in New York and development of an Integrated Resort in Osaka, Japan.
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MGM Revenue by Segment
Forward Guidance
MGM remains focused on maximizing long-term shareholder value through disciplined capital deployment and maintaining a strong balance sheet, while pursuing growth opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income