Recap: MGM Resorts Intl Q1 Earnings

Shares of MGM Resorts Intl MGM rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 51.11% year over year to ($0.68), which beat the estimate of ($0.85).

Revenue of $1,648,000,000 decreased by 26.85% from the same period last year, which beat the estimate of $1,590,000,000.

Guidance

MGM Resorts Intl hasn't issued any earnings guidance for the time being.

MGM Resorts Intl hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Apr 28, 2021

Time: 05:00 PM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1026/40497

Recent Stock Performance

Company's 52-week high was at $42.74

52-week low: $11.77

Price action over last quarter: Up 19.18%

Company Overview

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Mirage, Luxor, New York-New York, and a 50% ownership stake in CityCenter. The Strip constituted approximately 49% of total EBITDAR in the prepandemic year of 2019. We estimate MGM will open a resort in Japan in 2026. The company also operates the 56%-owned MGM Macau casinos with a new property that opened on the Cotai Strip in early 2018.