The company said consolidated net revenues for Q1 2024 were $4.4 billion, up 13% from the prior-year quarter. Net income attributable to MGM Resorts International was $217 million, lower than $467 million in the prior-year quarter.

1. 01

   The company said consolidated net revenues for Q1 2024 were $4.4 billion, up 13% from the prior-year quarter. Net income attributable to MGM Resorts International was $217 million, lower than $467 million in the prior-year quarter.

2. 02

   The company said net income was affected by a change in operating income, which reflected the $398 million gain on the disposition of Gold Strike Tunica in the prior-year quarter. It said the effect was partially offset by higher net revenues in the current quarter.

3. 03

   The company said MGM China net revenues for Q1 2024 were $1.1 billion, up 71% from $618 million in the prior-year quarter. Adjusted Property EBITDAR for the same segment was $301 million, up 78% from $169 million in the prior-year quarter.

4. 04

   The company said Free Cash Flow, calculated as net cash provided by operating activities of $549 million less capital expenditures, was $377 million for Q1 2024. It said it repurchased about 12 million shares for $511 million during the quarter, and the remaining availability under its November 2023 repurchase plan was about $1.7 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.