MGM Resorts International Shares Soar After Record-Breaking 2023 Quarter with $3.6B in Revenue and $1.0B in EBITDAR.
February 10, 2023
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MGM ($NYSE:MGM) Resorts International is a leading hospitality and entertainment company. The company is headquartered in Las Vegas and operates hotels, casinos, resorts, and other entertainment venues across the United States. As reported by the company, these results were due to strong growth in both their casino and hospitality segments, as well as increased occupancy rates at their resorts and an improved cost structure. The company also attributed the strong performance to strong consumer demand, which they attribute to their focus on customer experience, providing top-notch amenities, and delivering a unique and immersive guest experience. This impressive performance came despite the fact that the company faced several challenges due to the pandemic, including restrictions on capacity in many of its locations.
However, MGM Resorts was able to manage these challenges by leveraging technology and adapting its operations to meet changing consumer needs. The company is confident that its strategy will continue to deliver strong results in the quarters ahead and maintain its industry-leading position. Investors seem to agree, as evidenced by the stock’s surge in response to the quarterly report.
Market Price
At the time of writing, news surrounding MGM Resorts International is mostly positive. On Wednesday, MGM Resorts International stock opened at $41.7 and closed at $41.4, down by 1.3% from its previous closing price of $42.0. While the stock dipped slightly, investors remain optimistic about the company’s future prospects. The record-breaking quarter is not only a testament to the stellar performance of MGM Resorts International, but also to the resilience of the gaming industry as a whole. MGM Resorts International’s success is likely attributed to its strategic investments in new and innovative gaming technologies, as well as its focus on providing excellent customer service.
Additionally, MGM has been able to capitalize on the ever-growing online gaming market, which has seen tremendous growth in recent years. Overall, investors remain optimistic about MGM Resorts International’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MGM. More…
| Total Revenues | Net Income | Net Margin |
| 12.59k | 1.28k | -1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MGM. More…
| Operations | Investing | Financing |
| 1.82k | 1.45k | -3.5k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MGM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 47.33k | 41.37k | 12.45 |
Key Ratios Snapshot
Some of the financial key ratios for MGM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.5% | -24.9% | 23.4% |
| FCF Margin | ROE | ROA |
| 9.5% | 20.6% | 2.3% |
Analysis
MGM RESORTS INTERNATIONAL is an American company that operates resorts, hotels, and casinos worldwide. GoodWhale provides a comprehensive financial analysis of MGM RESORTS INTERNATIONAL to help investors make informed decisions. According to GoodWhale’s Risk Rating, MGM RESORTS INTERNATIONAL is a medium risk investment in terms of financial and business aspects. GoodWhale’s financial analysis takes into account various factors such as revenue, operating expenses, cash flow, leverage, and market capitalization. It also includes a thorough review of the company’s income sheet. GoodWhale has detected 1 risk warning in MGM RESORTS INTERNATIONAL’s income sheet, which investors should consider before making an investment decision. Investors interested in MGM RESORTS INTERNATIONAL should register with GoodWhale to assess the full potential of this company and its associated risks. GoodWhale’s financial analysis of MGM RESORTS INTERNATIONAL can help investors identify opportunities and make more informed decisions when investing. More…
Peers
MGM Resorts International is one of the world’s leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay, The Mirage, and more. The company’s competitors include SkyCity Entertainment Group Ltd, Wyndham Hotels & Resorts Inc, and Cruzani Inc.
– SkyCity Entertainment Group Ltd ($NZSE:SKC)
SkyCity Entertainment Group Ltd is a casino and hospitality company based in New Zealand. The company has a market cap of 2B as of 2022 and a Return on Equity of 3.48%. SkyCity operates four casinos in New Zealand, two in Australia, and one in Chile. The company also has a number of hotels, restaurants, and bars.
– Wyndham Hotels & Resorts Inc ($NYSE:WH)
Wyndham Hotels & Resorts, Inc. is one of the largest hotel companies in the world, with over 9,000 hotels across more than 80 countries. The company offers a variety of hotel brands, including Wyndham, Ramada, Days Inn, Super 8, and Howard Johnson. Wyndham Hotels & Resorts is headquartered in Parsippany, New Jersey. The company’s market cap is 6.2B as of 2022 and its ROE is 30.65%.
Summary
This strong quarter has investors looking favorably upon the company, and analysts believe that the stock is likely to continue to rise. Investors should consider the company’s long-term prospects, as well as its performance in previous quarters, before making any investment decisions. With a wide range of potential investments, MGM Resorts International should be a company to watch in the coming years.
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