MGM - MGM Q4 Earnings Highlights: Revenue Beat EPS Beat Record Las Vegas & China Results Super Bowl Kicks Off Strong Q1 | Benzinga
Casino and resort operator MGM Resorts International (NYSE:MGM) reported fourth-quarter financial results after the market close Tuesday.
Here are the key highlights.
What Happened: MGM Resorts reported fourth-quarter revenue of $4.38 billion, which was up 22% year-over-year. The revenue total beat a Street consensus estimate of $4.14 billion, according to data from Benzinga Pro.
The company reported earnings per share of $1.06 in the fourth quarter, which beat a Street estimate of 71 cents per share.
Las Vegas Strip revenue was $2.4 billion, which was up 3% year-over-year. The company cited the Formula 1 race in Las Vegas as a driver of the fourth-quarter results.
Regional operations revenue totaled $873 million, down 12% year-over-year. The company said the union strike at the MGM Grand Detroit impacted the results.
MGM China revenue was $983 million in the ...