MGM shares surge after topping quarterly profit, revenue estimates

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MGM shares surge after topping quarterly profit, revenue estimates

//business-finance.news-articles.net/content/202 .. -topping-quarterly-profit-revenue-estimates.html

Published in Business and Finance on Wednesday, February 12th 2025 at 17:40 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

Casino operator MGM Resorts International beat fourth-quarter profit and revenue estimates on Wednesday, aided by strength from more bookings across its properties.

2025-02-12 210 x 110 / 6884 Bytes

MGM Resorts International reported a significant surge in its shares after exceeding quarterly profit and revenue expectations, as detailed in a Reuters article from February 12, 2025. The company's success was attributed to a robust recovery in Las Vegas, where MGM operates several key properties, and a strong performance in its online betting and gaming sector. The article highlights that MGM's adjusted property earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) for its Las Vegas Strip resorts increased by 15% year-over-year. Additionally, the company benefited from a rebound in travel and tourism, with increased visitor numbers and higher spending per visitor. MGM also noted a positive impact from its strategic investments in digital gaming platforms, which have seen a significant uptick in user engagement and revenue. The report also touched on MGM's plans for future expansion and enhancement of its properties to capitalize on the ongoing recovery and growth in the hospitality and entertainment sectors.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/mgm-shares-surge-after-topping-quarterly-profit-revenue-estimates-2025-02-12/ ]