Seeking Alpha

MGM Resorts lower after releasing earnings

  • MGM China helped prop up MGM Resorts (MGM) in Q3 as the segment's pace of growth outran wholly-owned domestic resorts.
  • By properties, Bellagio showed one of the largest EBITDA gains at +30% Y/Y.
  • MGM was able to squeeze more out of its U.S. properties by increasing room revenue and realizing a higher hold percentages at casinos.
  • A goal to improve free cash flow is on track, according to the casino operator. (PR)
  • MGM -3.6% premarket
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