MGM Resorts International Reports Q1 Revenue Growth Amid Profitability Pressures and Strategic Moves
MGM Resorts International reported Q1 consolidated net revenue growth, with Las Vegas net revenue rising year-over-year for the first time in over a year, driven by convention ADRs and new value bundles. However, profitability pressures from increased self-insurance expenses and reduced business-interruption proceeds were noted, alongside capital moves like share repurchases and the sale of Northfield Park. The company also highlighted progress in digital and Macau operations.
Tickers: $MGM
Topics: Buybacks Digital Expansion Las Vegas Macau MGM Resorts International Q1 Earnings Revenue Growth