MGM -3% after posting weak results for Strip casinos and regional properties

• MGM Resorts (NYSE:MGM) swings lower after a bruising Q3 report amid pandemic pressures.
• Revenue was down 68% for Las Vegas Strip revenue properties and 40% for regional casinos. MGM China saw a 94% drop in revenue during the quarter.
• Consolidated adjusted EBITDAR plunged to a loss of $49M.
• CEO outlook: "We remain focused on responding to the pandemic with effective health and safety protocols. We have modified our operating model to adapt to the current environment and we are executing on our long-term growth initiatives, particularly in U.S. sports betting and iGaming, where BetMGM has gained significant momentum."
• MGM ended the quarter with cash of $4.6B and total liquidity of $7.8B.
• MGM -2.68% AH to $20.72.
• Earlier: MGM Resorts EPS misses by $0.06, misses on revenue
• See how MGM Resorts' Seeking Alpha Quant Rating compares in the casino sector.