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    MGM Resorts International (MGM)

    Q3 2023 Earnings Summary

    Reported on Jan 4, 2025
    Pre-Earnings PriceN/ADate unavailable
    Post-Earnings PriceN/ADate unavailable
    Price ChangeN/A
    • Declining Las Vegas EBITDA even without cyber issues: MGM's Las Vegas same-store EBITDA would have been down even without the $80 million impact from the cybersecurity incident, indicating potential underlying weakness in their core market.
    • Pressure from increasing costs: The company acknowledges real pressures from higher wages, insurance costs, and other premiums, which could negatively impact profitability.
    • Significant upcoming capital expenditures and potential increase in leverage: MGM has substantial planned investments in Japan and New York, as well as renovations of existing properties, which may strain financial resources and could lead to increased financial leverage.

    Research analysts covering MGM Resorts International.