MGM Q3 2020 Earnings Report
Key Takeaways
MGM Resorts International reported a challenging third quarter with a 66% decrease in consolidated net revenues to $1.1 billion compared to the prior year, primarily due to operational restrictions related to the pandemic. The company experienced a consolidated operating loss of $495 million and a net loss attributable to MGM Resorts of $535 million. However, the U.S. Regional Operations showed signs of recovery, and the company maintained a strong liquidity position.
All of the Company’s properties were open as of September 30, 2020
Recovery was led by the Company’s U.S. Regional Operations
The company is delivering on long-term strategy of positioning BetMGM as a leader in sports betting and iGaming
The Company’s liquidity position remains strong amid the current pandemic
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MGM Revenue by Segment
Forward Guidance
MGM Resorts did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income