MGM Resorts rides hotel rates as Super Bowl bets take a chunk out of busy first quarter [Yahoo! Finance]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: Yahoo! Finance
When the Kansas City Chiefs went into overtime to beat the San Francisco 49ers at Allegiant Stadium on Feb. 11, it cost sports books in Las Vegas dearly. A record amount was bet on the game in Nevada — 185.6 million — but the result favored gamblers and sports books only won $6.8 million. That's a hold percentage of only 3.7%. That kind of lost opportunity has the MGM lion licking its wounds, but BetMGM currently has the 49ers as the favorite to win Super Bowl LVIX at +600. “Nobody won a Super Bowl Bet, no one seemed to win a March Madness bet. We're not alone in that,” MGM Resorts International President Bill Hornbuckle said this week. However, hotel revenue soared as fans descended on Las Vegas and MGM posted record revenue for the first quarter of 2024 — 4% higher than the first quarter of 2023. Net revenue hit $2.3 billion, but profits dipped slightly compared to last year. Hotel rates provided a strong source of profits, even if gamblers had a few good days at the sports b
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MGM
News
- BetMGM Sponsors Progressive Jackpot During Wheel of Fortune's "Big Money Week" [Yahoo! Finance]Yahoo! Finance
- The Mirage casino, which ushered in an era of Las Vegas Strip megaresorts in the '90s, is closing [MSNBC.com]MSNBC.com
- BetMGM Sponsors Progressive Jackpot During Wheel of Fortune's "Big Money Week"PR Newswire
- Las Vegas landmark the Mirage to close doors [Yahoo! Finance]Yahoo! Finance
- Iconic Mirage casino in Las Vegas closing, rebranding with guitar-shaped Hard Rock Hotel [Yahoo! Finance]Yahoo! Finance
MGM
Earnings
- 5/1/24 - Beat
MGM
Sec Filings
- 5/17/24 - Form 144
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- MGM's page on the SEC website