MGM announced strong financial results
The hotel and casino operator announced its financial results from June to September.
US.- MGM Resorts International said that they had the best quarter in terms of adjusted property EBITDA generated by domestic resorts and net revenue. The overall net revenue of US$2.5 billion was up from the US$2.3 billion registered during the same period in 2015.
Casino revenue generated from June to September rises to US$1.3 billion, a slight increase from the US$1.2 billion reported on the same period in 2015. Adjusted property EBITDA amounted US$753 million, up from the US$602 million registered for the period in review in 2015. MGM Resorts announced that the operating income was significantly up from the US$297 million registered last year to the US$719 million in 2016.
Net income totaled US$561 million, another substantial increase from the US$94 million from 2015. MGM currently operates 13 facilities in the United States, which registered a net revenue of US$1.9 billion for this quarter. On the other hand, MGM China reported net revenue of US$500 million down from the US$529 generated last year.