{"id":8119,"date":"2024-10-31T03:59:13","date_gmt":"2024-10-31T03:59:13","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/10\/31\/strong-q3-growth-for-mgm-resorts-driven-by-mgm-china\/"},"modified":"2024-10-31T03:59:13","modified_gmt":"2024-10-31T03:59:13","slug":"strong-q3-growth-for-mgm-resorts-driven-by-mgm-china","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/10\/31\/strong-q3-growth-for-mgm-resorts-driven-by-mgm-china\/","title":{"rendered":"Strong Q3 Growth for MGM Resorts Driven by MGM China"},"content":{"rendered":"<div>\n<p>MGM Resorts International reported a strong third quarter for 2024, reaching $4.2 billion in net revenue, a 5% increase from the previous year\u2019s Q3 results. The company saw its highest quarterly revenue yet, with much of the growth coming from MGM China, which set a new revenue record for the quarter.<\/p>\n<p>In China, MGM posted a net revenue of $929 million, up 14% year-over-year, while adjusted property EBITDAR rose 5% to $237 million. MGM attributes much of this growth to lifted travel restrictions, which boosted tourism and gaming activity in the region.<\/p>\n<p>Las Vegas also showed gains, with $2.1 billion in net revenue, a slight 1% increase from the prior year due to higher revenue from non-gaming sources. Las Vegas\u2019s adjusted property EBITDAR grew by 2% to $731 million, indicating ongoing strength in areas like hotel stays, dining, and entertainment.<\/p>\n<p>Regional operations also saw progress, with $952 million in net revenue, a 3% year-over-year increase. Adjusted property EBITDAR in regional operations grew by 2%, totaling $300 million. According to MGM Resorts President and CEO Bill Hornbuckle, \u201cWe are pleased to report record consolidated net revenues for the third quarter, driven by record results from MGM China.\u201d<\/p>\n<p>The company\u2019s digital sector saw a boost as well, with BetMGM reporting a record $3.2 million in revenue, a 20% increase from Q3 2023. This achievement reflects MGM\u2019s continued focus on expanding its sportsbook offerings and digital investments.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Looking forward, Hornbuckle mentioned plans for integrated resorts in Japan and additional developments in New York. He added,<em> \u201cMGM Resorts is well positioned for long-term growth driven by the positive inflection to come in our digital investments alongside the enviable integrated resorts pipeline of development.\u201d<\/em><\/p>\n<p>In Q2 of 2024, MGM Resorts also posted impressive results. For the quarter ending June 30, net revenue reached <strong><a href=\"https:\/\/igaming.org\/casino-news\/mgm-resorts-posts-strong-q2-earnings-for-2024\/\">$4.33 billion<\/a><\/strong>, a 9.8% increase from the prior year.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/strong-q3-growth-for-mgm-resorts-driven-by-mgm-china\/\">Strong Q3 Growth for MGM Resorts Driven by MGM China<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MGM Resorts International reported a strong third quarter for 2024, reaching $4.2 billion in net revenue, a 5% increase from the previous year\u2019s Q3 results. The company saw its highest quarterly revenue yet, with much of the growth coming from MGM China, which set a new revenue record for the quarter. In China, MGM posted [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8119","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8119"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8119\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}