Q3 2023 Summary
Published Jan 4, 2025, 1:15 AM UTCInitial Price$43.85July 1, 2023
Final Price$36.76October 1, 2023
Price Change$-7.09
% Change-16.17%
- 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.