MGM Resorts (MGM) Tops Q3 EPS Views; MGM China Revenue Sank 6%
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MGM Resorts (NYSE: MGM) reported Q3 EPS of $0.53, $0.42 better than the analyst estimate of $0.11. Revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.38 billion.
MGM reported an 11% increase in REVPAR over the prior year quarter at the Company's Las Vegas Strip resorts.
Adjusted Property EBITDA of $570 million at the Company's domestic resorts, a 39% increase over the prior year quarter and a 31% increase on a same-store basis.
MGM China's net revenues decreased 6%, while operating income and Adjusted EBITDA increased 34% and 17%, respectively, compared to the prior year quarter, partially due to its focus on high-quality main-floor business.
For earnings history and earnings-related data on MGM Resorts (MGM) click here.
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