Overview
- MGM Resorts reported Q1 revenue of $4.45 billion and earnings of 49 cents a share, beating sales estimates but missing profit targets after Wednesday’s results.
- Management said record consolidated revenue was driven by MGM China and MGM Digital, with added growth from the BetMGM online venture.
- Las Vegas produced $2.2 billion in net revenue as adjusted earnings fell 8% to $749 million, and Strip gaming revenue declined 5% to $513 million.
- Hotel trends were steady at 92% occupancy with a $257 average daily rate, yet revenue per available room slipped 2% as value‑tier, midweek visits stayed soft.
- To reach price‑sensitive guests, MGM launched an all‑inclusive bundle covering hotel, dining, entertainment, parking, and resort fees at Luxor and Excalibur, while closing the $546 million sale of MGM Northfield Park as shares eased 0.69% to $39 in after‑hours trading.