MGM record Q3 despite Macau

Despite the disaster in Covid-hit Macau for MGM Resorts, the group was today celebrating huge increases in revenue from its Las Vegas Strip operations.

Those properties enjoyed GGR of $2.3bn in the third quarter, which MGM Resorts International CEO Bill Hornbuckle described as “the best quarter in our Las Vegas Strip history.”

He told an investors call: “You continue to see the strength and the growth. There’s been a couple of fundamental changes both in the context of the customer mix and the opportunity and desire to want to come to places like Las Vegas. Our position, with the asset changes of the Mirage and the Cosmopolitan and some of the other things we do, we just really like where we are in Las Vegas.”

The group’s revenue totalled $3.4bn for the quarter, up 26 per cent – the Strip operations were up 67 per cent – while the regional operations added $973m in net revenue, a five per cent increase.

The BetMGM joint venture in online gaming, with Entain, was reported to be very successful.