AI English summary of an SEC filing — figures as filed
MGM Resorts MGMThe company said consolidated net revenues for Q2 2024 were $4.3 billion, up 10% from a year earlier. Net income attributable to MGM Resorts International was $187 million (versus $201 million a year earlier), and the company cited the continued ramp-up of operations at MGM China as a driver of the revenue increase.
Key points
AI summaryThe company said consolidated net revenues for Q2 2024 were $4.3 billion, up 10% from a year earlier. Net income attributable to MGM Resorts International was $187 million (versus $201 million a year earlier), and the company cited the continued ramp-up of operations at MGM China as a driver of the revenue increase.
MGM China net revenues for Q2 rose 37% from $741 million a year earlier to $1.0 billion, the company said. It said Adjusted Property EBITDAR was $294 million, up 40% from $209 million a year earlier.
Las Vegas Strip Resorts net revenues for Q2 were $2.2 billion, up 3% from $2.1 billion a year earlier, the company said. It also said Adjusted Property EBITDAR was $782 million, up 1% from $777 million a year earlier.
MGM Resorts International repurchased about 10 million shares of common stock for a total of $413 million in Q2 2024, the company said. It said the remaining availability under the November 2023 stock repurchase plan was about $1.3 billion as of June 30, 2024. All repurchased shares have been retired.
Summary
AI-writtenAnalysis 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.
MGM Resorts Q2 Consolidated Net Revenue $4.3 billion, Net Income Attributable to MGM $187 million
The company said consolidated net revenues for Q2 2024 were $4.3 billion, up 10% from a year earlier. Net income attributable to MGM Resorts International was $187 million (versus $201 million a year earlier), and the company cited the continued ramp-up of operations at MGM China as a driver of the revenue increase.
Source · Based on the filing body and exhibits
MGM China Q2 Net Revenue $1.0 billion, Adjusted Property EBITDAR $294 million
MGM China net revenues for Q2 rose 37% from $741 million a year earlier to $1.0 billion, the company said. It said Adjusted Property EBITDAR was $294 million, up 40% from $209 million a year earlier.
Source · Based on the filing body and exhibits
Las Vegas Strip Resorts Q2 Net Revenue $2.2 billion, Adjusted Property EBITDAR $782 million
Las Vegas Strip Resorts net revenues for Q2 were $2.2 billion, up 3% from $2.1 billion a year earlier, the company said. It also said Adjusted Property EBITDAR was $782 million, up 1% from $777 million a year earlier.
Source · Based on the filing body and exhibits
MGM Repurchases About 10 million Shares in Q2 for $413 million
MGM Resorts International repurchased about 10 million shares of common stock for a total of $413 million in Q2 2024, the company said. It said the remaining availability under the November 2023 stock repurchase plan was about $1.3 billion as of June 30, 2024. All repurchased shares have been retired.
Source · Based on the filing body and exhibits
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
You can verify the report’s figures and statements in the original filing on SEC EDGAR.