MGM Resorts International


SKU: MGM-1 Category:


MGM Resorts International exceeded analyst expectations in terms of revenue and earnings, marked by significant consolidated net revenues. Despite disruptions across the portfolio, Las Vegas achieved high same-store ADRs, and regional net revenues hit a significant high on a same-store basis. Cybersecurity posed a challenge in mid-September, leading to a proactive shutdown of certain systems to protect customer information. However, systems were fully restored and operational by the end of September. Looking ahead, the fourth quarter anticipates the inaugural Formula 1 race in Las Vegas, with strong indications of success. The company’s outlook for 2024 is optimistic, fueled by positive booking rates, group pace, and various tailwinds. Internationally, MGM China’s performance in Macau surpassed 2019 levels, showcasing the team’s ingenuity. The BetMGM platform in the US is thriving, live in 28 markets and integrating new features. BetMGM also partnered with Inspired Entertainment to jointly introduce MGM Bonus City, an inventive online Hybrid Dealer game. International digital efforts, including partnerships with LeoVegas and Push Gaming, are expanding. MGM’s commitment to profitability, shareholder value, and cash flow growth remains robust, with confidence in the company’s strategic positioning for the future.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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