Benzinga | Aug 4, 2021 04:46PM EDT

Recap: MGM Resorts Intl Q2 Earnings

Shares of MGM Resorts Intl (NYSE:MGM) rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 108.55% over the past year to $0.13, which beat the estimate of ($0.44).

Revenue of $2,268,000,000 up by 682.58% year over year, which beat the estimate of $2,090,000,000.

Looking Ahead

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

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

Conference Call Details

Date: Aug 04, 2021

Time: 05:00 PM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1026/41848

Recent Stock Performance

Company's 52-week high was at $45.34

52-week low: $15.84

Price action over last quarter: down 6.48%

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 the prepandemic year of 2019. We estimate MGM will open a resort in Japan in 2027. The company also operates the 56%-owned MGM Macau casinos with a new property that opened on the Cotai Strip in early 2018.