MGM Resorts continues upward trend

Another strong quarter in its US domestic operations is reported by MGM Resorts International.

The group’s third quarter of the year, ended September 30, saw MGM’s EBITDA up 21 per cent for its Las Vegas resorts and 29 per cent for its regional operations. This is compared with 2019.

“These results demonstrate the continued robust demand for our gaming entertainment offerings across the US and the effectiveness of our operating model,” said Bill Hornbuckle, CEO (pictured).

He said that he was encouraged by the long-term growth prospects that include BetMGM continuing to establish itself as a major force in the US sports betting and igaming markets.

The company has also been selected as Osaka’s partner to build and operate a large-scale integrated resort in Japan. MGM was also in the course of acquiring the operations of The Cosmopolitan in Las Vegas.

The company had net revenues of $2.7bn, up 140 per cent on the comparative quarter of 2020 when operations were affected by temporary closures during the pandemic. Net income was $1.4bn compared with a net loss of $535m last year.