{"id":6662,"date":"2024-02-16T00:39:22","date_gmt":"2024-02-16T00:39:22","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/02\/16\/mgm-resorts-sees-revenue-spike-in-q4-and-full-year-2023\/"},"modified":"2024-02-16T00:39:22","modified_gmt":"2024-02-16T00:39:22","slug":"mgm-resorts-sees-revenue-spike-in-q4-and-full-year-2023","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/02\/16\/mgm-resorts-sees-revenue-spike-in-q4-and-full-year-2023\/","title":{"rendered":"MGM Resorts Sees Revenue Spike in Q4 and Full-Year 2023"},"content":{"rendered":"
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MGM Resorts International recently announced its financial outcomes for both the final quarter and the entirety of 2023. The company saw its Q4 net revenues climb to $4.4 billion, marking a 22% rise from the previous year, thanks to eased entry restrictions in Macau. For the entire year, MGM reported a 23% increase in net revenues, reaching $16.2 billion.<\/p>\n

Bill Hornbuckle, CEO and President, highlighted the record-breaking performances in Las Vegas and MGM China, attributing the success to strategic offerings and major events that drew significant profit. He said:<\/p>\n

\u201cOur Las Vegas Strip Resorts and MGM China set\u00a0new all-time records for full year and fourth quarter Adjusted Property EBITDAR.\u201d<\/em><\/p>\n

The Q4 operating income rebounded to $419 million from a loss the previous year, largely due to higher revenues and lower amortization expenses from the MGM Grand Paradise gaming sub-concession. Net income for the quarter also saw an increase, reaching $313 million.<\/p>\n

A significant revenue jump was noted in MGM China, with Q4 earnings hitting $983 million, a stark rise from the previous year, fueled by lifted COVID-19 restrictions and increased visitation.<\/p>\n

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