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Jun 30, 2022
MGM Q2 2022 Earnings Report
MGM's financial performance was driven by record Las Vegas Strip Adjusted Property EBITDAR and record second quarter Regional Operations Adjusted Property EBITDAR.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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