Will A Macau Recovery Drive MGM Stock Higher Following Q1 Results? [Forbes]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: Forbes
is expected to publish its Q1 2024 results on May 1, reporting on a quarter that is likely to see the company benefit from a strong recovery in Macau and potential continued strength in its Las Vegas properties. We expect sales to come in at $4.25 billion, in line with consensus estimates and marking an increase of about 18% versus last year. We expect earnings to come in at about $0.55 per share, slightly ahead of the consensus. MGM's Las Vegas Strip properties should fare well driven by a strong U.S. gambling market and the Super Bowl, which was held in Las Vegas this February. Customers have also been spending more on average at casinos, with average hotel room rates also trending higher. MGM's Macau business is also likely to witness a strong rebound after China relaxed its intense Covid-19 restrictions last year. Tourist arrivals at Macau have rebounded strongly and MGM is seeing strong pent-up demand. Tourist arrivals into Macau increased by 79.4% to 8.88 million for Q1 2024,
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MGM
Earnings
- 5/1/24 - Beat
MGM
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- MGM's page on the SEC website