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Recap: MGM Resorts Intl Q4 Earnings

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Benzinga Insights
·1 min read
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Shares of MGM Resorts Intl (NYSE:MGM) moved lower in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were down 1225.00% year over year to ($0.90), which were in line with the estimate of ($0.90).

Revenue of $1,494,000,000 declined by 53.09% from the same period last year, which missed the estimate of $1,520,000,000.

Looking Ahead

MGM Resorts Intl hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Feb 10, 2021

View more earnings on MGM

Time: 05:00 PM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1026/39667

Recent Stock Performance

52-week high: $36.20

Company's 52-week low was at $5.90

Price action over last quarter: Up 76.03%

Company Description

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Mirage, Luxor, New York-New York, and a 50% ownership stake in CityCenter. The Strip constituted approximately 49% of total EBITDAR in 2019. We estimate MGM will open a resort in Japan in 2026. The company also operates the 56%-owned MGM Macau casinos with a new property that opened on the Cotai Strip in early 2018.

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