MGM’s Golden Week performance boosts its confidence for 2025
Despite China's economic slowdown, MGM Resorts remains confident in its 2025 performance, driven by the recent revenues from the Golden Week.On October 1, the People’s...
MGM Resorts records strong Q3 results with $4.2B
The American global hospitality and entertainment company MGM Resorts International shared its Q3 results, highlighting the rise of its net revenues by 5%, which equals $4.2 billion.
The company’s free cash flow from January 2024 to September 30, 2024 stood at $944 million. Additionally, diluted earnings per share came in at $0.61, with adjusted diluted earnings per share at $0.54. In line with its buyback strategy, MGM repurchased about 8 million shares for $326 million, retiring all shares acquired.
Bill Hornbuckle, president & CEO of MGM Resorts, commented:
“MGM Resorts is well positioned for long-term growth driven by the positive inflection to come in our digital investments alongside the enviable integrated resorts pipeline of development that we have in Japan, as well as opportunities in New York and beyond.”
MGM’s growth was driven by its Las Vegas operations, which contributed $2.1 billion in net revenues. Its regional properties generated $952 million in revenue, while MGM China saw a 14% increase, earning $929 million.
MGM’s success in 2024
MGM Resorts has recorded a strong performance during 2024. Back in October, the company had a Golden Week in its Macau branch. This itself doubles the company’s confidence for 2025. MGM China also played an important role and generated $929 million in net revenues, up 14% year on year.
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