- Adjusted Earnings Per Share: 86 cents, beating the estimate of 60 cents.
- Reported Earnings Per Share: 60 cents.
- Net Revenue: $4.33 billion, above the estimate of $4.21 billion.
- Las Vegas Strip Resorts Net Revenue: $2.21 billion, up by 2.7% year-over-year, estimate was $2.17 billion.
- Regional Operations Net Revenue: $927.1 million, a slight increase of 0.1% year-over-year, estimate was $914.7 million.
- MGM China Net Revenue: $1.02 billion, a 37% increase year-over-year, estimate was $990.6 million.
- Adjusted EBITDAR: $1.20 billion, above the estimate of $1.18 billion.
- Las Vegas Strip Resorts Adjusted Property EBITDAR: $782.3 million, up by 0.7% year-over-year, estimate was $762.9 million.
- Regional Operations Adjusted Property EBITDAR: $288.4 million, down by 1.8% year-over-year, estimate was $278.3 million.
- MGM China Adjusted Property EBITDAR: $293.9 million, a 40% increase year-over-year, estimate was $276.1 million.
- Las Vegas Strip Occupancy: 97%, compared to 96% year-over-year, estimate was 95.3%.
- MGM China Main Floor Table Games Win: $939 million, a 50% increase year-over-year, estimate was $880.9 million.
MGM Resorts International on Smartkarma
Analysts on Smartkarma, such as Baptista Research, are closely following MGM Resorts International‘s performance. Recently, Baptista Research published a report titled “MGM Resorts International: Potential Market Expansions to the UAE,” indicating a bullish sentiment. The report highlighted MGM Resorts International‘s strong Q1 2024 results, showing robust performance with record-breaking net revenues of $4.4 billion, a 13% increase from the previous year. The company’s diversified business model, including Las Vegas operations, regional properties, MGM China, and the digital segment, contributed significantly to this financial growth.
Furthermore, Baptista Research also discussed in another report, “MGM Resorts International: Is The Expansion in Property Locations To The UAE Expected To Be A Game Changer? – Major Drivers,” the positive outcomes of MGM Resorts International‘s Q4 and full 2023 year earnings. The report mentioned that CEO Bill Hornbuckle highlighted all-time high adjusted property EBITDAR for Las Vegas and MGM China, supported by several domestic properties setting records for the same metric. With this insight, analysts are optimistic about the potential impact of MGM Resorts International‘s expansion into the UAE market.
A look at MGM Resorts International Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma’s Smart Scores, MGM Resorts International shows a promising long-term outlook. The company’s strong growth score of 4 suggests that it is well-positioned for expansion and development in the future. Additionally, with a value score of 3, MGM Resorts is considered to have good intrinsic value, indicating potential for solid returns over time. Despite a lower resilience score of 2, the company’s momentum score of 3 suggests positive market sentiment and potential upward trends in the near future.
MGM Resorts International, a prominent player in the gaming, hospitality, and entertainment industry, operates various properties in key locations across the United States and Macau. In addition to owning and managing resorts, the company also offers hospitality services globally. With favorable growth and value scores, MGM Resorts International appears to be on a path of steady progress and may offer promising investment opportunities for the long haul.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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