MGM Resorts International revenue up almost 88% in 2021 

Revenue for the 12 months to December 31, 2021 amounted to $9.68bn, up 87.5 per cent from $5.16bn in the previous year.

US.- MGM Resorts International, the Las Vegas-based gaming giant, has posted revenue for the fourth quarter of 2021 of $3.1bn, a 105 per cent increase from the prior-year period. Revenue for the 12 months amounted to $9.68bn , up 87.5 per cent from $5.16bn in the previous year.

MGM Resorts International posted consolidated adjusted EBITDAR of $2.4bn in the year. For Q4, consolidated adjusted EBITDAR was $821m, while net income attributable to MGM Resorts was $131m, compared to net loss attributable to the group of $448m in the prior-year quarter.

Bill Hornbuckle, CEO and president of MGM Resorts International said: “Our record fourth-quarter results are a testament to our talented team across the globe, our sharpened focus on operational efficiency and the proven resiliency of demand for the service and experiences that we provide.

“The strategic milestones we achieved in 2021 position us for further success in 2022, and we remain excited about our long-term opportunities.”

See also: BetMGM predicts $1.3bn in net revenue for 2022

Las Vegas Strip operations from the Q4 represented $1.8bn of total revenue, an increase of 277 per cent from the prior-year period. Adjusted Property EBITDAR for Las Vegas Strip operations grew 1,196 per cent to $699m.

Meanwhile, regional operations boasted revenues of $900m, climbing 51 per cent from the prior-year quarter. Adjusted property EBITDAR grew 95 per cent to $309m. Net revenues for MGM China represented $315m of total revenue, up 3 per cent from the prior-year quarter. MGM China adjusted property EBITDAR declined by 88 per cent to $5m.

Jonathan Halkyard, CTO and treasurer of MGM Resorts International, said: “In 2021, we further bolstered our liquidity position while returning $1.75bn to shareholders via share repurchases and making strategic investments that align with our vision to be the world’s premier gaming entertainment company.”

See also: MGM Resorts sells The Mirage to Hard Rock for $1bn