MGM Resorts (NYSE: MGM) reported Q1 EPS of ($0.68), $0.16 better than the analyst estimate of ($0.84). Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.56 billion.

"We are pleased with the meaningful progress we\'ve made on multiple fronts this quarter," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. "Consumer demand strengthened at our domestic properties, and the significant changes we\'ve made to our operating model have positioned us to capitalize on the recovery. Our regional properties achieved record first quarter Adjusted Property EBITDAR and Adjusted Property EBITDAR margins. Las Vegas operating results improved sequentially, leisure demand is improving, and we now have a tangible path to bring conventions and entertainment back at scale. MGM China continued to outperform the broader Macau market\'s gradual pace of recovery."

"We are also deeply focused on our long-term goals including investing in digital to drive deeper customer engagement and BetMGM, our U.S. sports betting and iGaming venture, which continues to impress as the leading operator in U.S. iGaming and the top three operator in U.S. online sports betting. Our future is bright."

"Our robust liquidity position provides us with significant flexibility amid an improving operational backdrop. As such, we have begun to return capital to shareholders through share repurchases during the first quarter," said Jonathan Halkyard, Chief Financial Officer and Treasurer of MGM Resorts. \"Going forward, we will be disciplined in allocating our capital by maintaining a strong balance sheet, pursuing targeted growth opportunities and returning cash to shareholders."

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