MGM Resorts Q2 Earnings Highlights: Revenue And EPS Beat, Record Quarter, China Revenue Up 418%, BetMGM Improves And More
Portfolio Pulse from Chris Katje
MGM Resorts International reported Q2 revenue of $3.94 billion, up 21% YoY, beating the Street consensus estimate of $3.82 billion. The company also reported EPS of 55 cents, beating the Street consensus estimate of 54 cents. Revenue from MGM China was up 418% YoY. BetMGM posted operating losses of $22.5 million, compared to a loss of $71.2 million a year ago. The company also highlighted its recently announced partnership with Marriott International.
August 04, 2023 | 12:18 pm
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POSITIVE IMPACT
MGM Resorts highlighted its recently announced partnership with Marriott International, which could potentially boost both companies' profitability.
The partnership between MGM Resorts and Marriott International could potentially boost both companies' profitability, which could have a positive impact on their stocks.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
MGM Resorts reported strong Q2 results, beating revenue and EPS estimates. This could potentially boost investor confidence.
MGM Resorts' strong Q2 results, including a significant increase in revenue from MGM China and a decrease in BetMGM's operating losses, could potentially boost the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100