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MGM Resorts International Q2FY23 Report Overview

(3 votes, average: 5.00 out of 5)
 31 October 2023
MGM Resorts International
Free version:

Description

MGM Resorts International is a prominent gaming and entertainment company, included in the S&P 500 index and operating a diverse portfolio of hotels, casinos, conference facilities, restaurants, nightclubs, and retail shops.

We have gathered the company’s financial and corporate data to conduct a comparative analysis of its Q2 report for the financial year 2022 with the Q2 report for the financial year 2023.

Research Goals and Objective

Research Objective: To perform a comparative analysis of the company’s Q2FY23 report with that of the previous year.

Research Tasks:

  • Gather comprehensive financial and corporate information pertaining to the company’s Q2FY23;
  • Analyze the collected information;
  • Conduct a comparative assessment of the Q2FY23 report with the reports from previous quarters of the current fiscal year as well as Q2FY22;
  • Formulate conclusions based on the analyzed data.

Disclaimers

The information collected in this report reflects data from the company's public reports and is not questioned or verified via other sources. In other words, the information is taken and used as is.

If additional information from other sources is used or if the data used is reflective of the researcher's personal opinion, this will be labelled accordingly.

The provided public company reports are unaudited.

Document markup

  • FY — Financial Year;
  • Q — Quarter;
  • QoQ — Quarter-over-Quarter;
  • YoY — Year-to-Year;
  • This report uses the American number format: a period is used as the decimal separator, while commas separate thousands;
  • Year-over-Year (YoY) relative value calculations were not performed in cases where the previous year's profit changed to a loss in the current year and vice versa within the scope of the current report;
  • MGM Resorts International Annual Report Period is from January 1 to December 31, 2023:
    • The specified financial year coincides with the calendar year.

Short Insights

  • In Q2FY23, MGM reported a significant 20.74% increase in Consolidated Net Revenues, reaching $3,942 million, compared to $3,265 million in the same quarter of the previous year;
  • Casino-related revenue increased in Q2FY23, representing 49.49% of the total quarterly revenue, amounting to $1,951 million, indicating strong performance in this segment;
  • MGM plans to focus on extending its online presence and enhancing digital capabilities to capitalize on growth opportunities.
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