MGM Resorts International (NYSE:MGM) reported mixed first-quarter results after Wednesday’s closing bell, missing analyst earnings estimates.
Here's a look at the details inside the report.
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MGM Q1 Details
MGM Resorts reported quarterly earnings of 49 cents per share, which missed the analyst consensus estimate of 53 cents, according to Benzinga Pro data.
Quarterly revenue came in at $4.45 billion, which beat the Street estimate of $4.37 billion.
MGM reported the following first-quarter business highlights:
- Las Vegas Strip Resorts’ quarterly net revenues increased year-over-year for the first time since the third quarter of 2024
- BetMGM North America Venture reported year-over-year increases in net revenue and Adjusted EBITDA
- Closed on the sale of the operations of MGM Northfield Park for $546 million in April 2026
“We are pleased to report record first-quarter consolidated net revenues driven primarily by MGM China and MGM Digital, as well as growth at our BetMGM North America Venture,” said Bill Hornbuckle, CEO of MGM Resorts International.
“MGM Resorts’ Las Vegas Strip Resorts delivered comparable period quarterly top line growth for the first time in over a year and monthly net revenues that strengthened into March,” Hornbuckle added.
MGM Stock Price: According to data from Benzinga Pro, MGM stock was down 0.69% to $39 in Wednesday's extended trading.
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