Company Of The Day: MGM Resorts International

+56.62%
Upside
29.88
Market
46.80
Trefis
MGM: MGM Resorts logo
MGM
MGM Resorts

What?

MGM Resorts International (NYSE:MGM) posted a better than expected set of Q2 2021 results, with revenue growing by 683% year-over-year to $2.27 billion and adjusted loss per share standing at $0.13, compared to a loss of $1.52 per share in Q2 2020.

Why?

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Growth was driven by the reopening following Covid-19 and the strong performance of the company’s Las Vegas operations, although this was partly offset by a weaker than expected performance of the MGM China business.

So What?

MGM Resorts stock was down by about -1.8% in after-hours trading Wednesday, likely driven by the weaker performance in China, which is seen as a key growth market for the company.

See Our Complete Analysis For MGM Resorts International

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