Mgm Resorts International ( (MGM) ) has released its Q4 earnings. Here is a breakdown of the information Mgm Resorts International presented to its investors.
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MGM Resorts International is a global gaming and entertainment company, renowned for its world-class hotels, casinos, and entertainment experiences, operating primarily in the gaming industry with a significant presence across the United States and Asia.
In its latest earnings report, MGM Resorts International revealed record full-year consolidated net revenues for 2024, reaching $17.2 billion, marking a 7% increase from the previous year. The company also reported substantial growth in its MGM China segment and a strategic focus on digital ventures, including BetMGM, which is expected to turn profitable by 2025.
The financial highlights of the report show a strong performance in MGM China’s revenue, which surged by 28% year-over-year, contributing significantly to the company’s overall growth. Despite a slight decrease in net revenues and adjusted EBITDA for Las Vegas Strip Resorts, the regional operations saw a 7% increase in net revenues, and MGM Digital expanded its market presence with a 28% revenue growth compared to the previous year.
Additionally, MGM Resorts made notable strides in shareholder value, repurchasing over 33 million shares in 2024, reducing the outstanding shares by more than 40% since 2021. This strategic move is expected to enhance free cash flow per share and create long-term value for shareholders.
Looking ahead, MGM Resorts is optimistic about its growth prospects, buoyed by strong demand and future bookings in its core operations. The management is focused on leveraging digital opportunities and expanding its international footprint, particularly in Asia, to sustain its momentum and drive future profitability.
