MGM Resorts Sees 13% Net Revenue Growth in April-June Period

MGM Resorts reported net revenue of US$3.2 billion for the April-June 2019 period, which represented 13% growth over the same three-month period last year. Analysts suggested that this was largely in line with expectations.

Meanwhile, EBITDA for the quarter amounted to US$756 million, or 9% growth.

MGM’s growth has been based mainly on the opening of new properties like MGM Springfield rather than significant increases at established IRs and casinos.

MGM China reported net revenue growth of 26% during the quarter, reaching US$706 million. This was the result of the continued ramp-up of MGM Cotai and an increase in main floor table games hold percentage. (AGB Nippon)