Publishing its financial results for the quarter to March 31, MGM Resorts International reported a year-on-year increase in net revenues at the company’s domestic resorts of 29 per cent, to US$2.1bn.
Revenue per available room at the company's Las Vegas Strip resorts grew 8.6 per cent against the same period in 2016 while operating income of $477m at MGM’s domestic resorts represented a 31 per cent year-on-year increase.
Net income attributable to MGM Resorts was $207m, compared to $67m in the prior year quarter.
MGM China recorded an operating income of $73m in the first quarter, compared to $47m in Q1, 2016, while adjusted EBITDA was $143m, a 25 per cent increase year on year.
“MGM Resorts had a strong start to the year, as evidenced by our first quarter diluted earnings per share which tripled last year's results, double-digit same-store adjusted property EBITDA growth at our domestic resorts, record results at CityCenter and solid performance at MGM China,” said Jim Murren, chairman and CEO of MGM Resorts.
“MGM National Harbor and Borgata, our newest additions on the east coast, are leading their respective markets, and we continue to work toward expanding our footprint in Macau with the opening of MGM Cotai later this year,” he said.
