MGM Q2 2022 Earnings Report
Key Takeaways
MGM Resorts International reported outstanding second-quarter results, with consolidated net revenues of $3.3 billion, a 44% increase compared to the prior year. Net income attributable to MGM Resorts was $1.8 billion, and adjusted diluted earnings per share was $0.03. The company repurchased $1.1 billion of shares of common stock during the quarter.
Consolidated net revenues increased by 44% to $3.3 billion.
Net income attributable to MGM Resorts was $1.8 billion compared to $105 million in the prior year quarter.
Adjusted diluted earnings per share was $0.03 compared to a loss of $0.13 in the prior year quarter.
The company acquired the operations of The Cosmopolitan of Las Vegas and announced the sale of the operations of Gold Strike Tunica for $450 million.
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MGM Revenue by Segment
Forward Guidance
MGM Resorts is optimistic about the future, with a strong convention and event calendar and BetMGM's market leadership and growth roadmap.
Revenue & Expenses
Visualization of income flow from segment revenue to net income