MGM China Reports 10% Revenue Growth in Q1
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy MGM?
Source: PRnewswire
- Significant Revenue Growth: MGM China's revenue increased by 10% year-on-year in Q1, reflecting the company's strong recovery in the Macau market and sustained customer demand, thereby reinforcing its market leadership.
- Record Daily Visitors: The average daily visitor count in Macau rose by 14% year-on-year to 124,599, driving overall gaming revenue growth and indicating the positive impact of tourism recovery on the company's performance.
- Five-Star Recognition Reaffirmed: MGM received seven Five-Star Awards from Forbes Travel Guide, with MGM MACAU achieving its 11th consecutive Five-Star rating, highlighting the company's commitment and efforts in delivering exceptional guest experiences.
- New Dining Brand Launch: The opening of the renowned Singapore dining brand Chatterbox Café at MGM MACAU enhances the city's dining diversity, elevating Macau's global culinary reputation while attracting more visitors and further driving business growth.
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Analyst Views on MGM
Wall Street analysts forecast MGM stock price to rise
14 Analyst Rating
5 Buy
7 Hold
2 Sell
Hold
Current: 39.740
Low
29.00
Averages
40.31
High
56.00
Current: 39.740
Low
29.00
Averages
40.31
High
56.00
About MGM
MGM Resorts International is a global gaming and entertainment company with national and international destinations featuring hotels and casinos, meetings and conference spaces, incredible live and theatrical entertainment experiences, and a range of restaurants, nightlife and retail offerings. Its segment includes Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. Las Vegas Strip Resorts consists of casino resorts: Aria, Bellagio, The Cosmopolitan of Las Vegas, MGM Grand Las Vegas, Mandalay Bay, Luxor, New York-New York, Excalibur, and Park MGM. Regional Operations consists of various casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and others. MGM Digital is its online gaming portfolio which consists of LeoVegas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
MGM Resorts Misses Q1 Profit Expectations Amid Las Vegas Slump
- Profit Miss: MGM's adjusted Q1 earnings per share of 49 cents fell short of Wall Street's expectation of 53 cents, indicating challenges in profitability amid ongoing macroeconomic uncertainty.
- Las Vegas Weakness: Revenue from Las Vegas Strip Resorts reached $2.2 billion, slightly above last year, yet declining visitor numbers have led to a slump in luxury vacation demand, impacting overall business performance.
- Overall Revenue Growth: Total revenue rose 4.1% to $4.45 billion in Q1, exceeding analysts' average estimate of $4.37 billion, demonstrating resilience in other business segments despite Las Vegas challenges.
- Strong China Performance: MGM China reported a 9% revenue increase to $1.1 billion, highlighting the continued growth of the company's operations in China and Macau, which serve as a crucial support for overall revenue.
See More
MGM China Reports 10% Revenue Growth in Q1
- Significant Revenue Growth: MGM China's revenue increased by 10% year-on-year in Q1, reflecting the company's strong recovery in the Macau market and sustained customer demand, thereby reinforcing its market leadership.
- Record Daily Visitors: The average daily visitor count in Macau rose by 14% year-on-year to 124,599, driving overall gaming revenue growth and indicating the positive impact of tourism recovery on the company's performance.
- Five-Star Recognition Reaffirmed: MGM received seven Five-Star Awards from Forbes Travel Guide, with MGM MACAU achieving its 11th consecutive Five-Star rating, highlighting the company's commitment and efforts in delivering exceptional guest experiences.
- New Dining Brand Launch: The opening of the renowned Singapore dining brand Chatterbox Café at MGM MACAU enhances the city's dining diversity, elevating Macau's global culinary reputation while attracting more visitors and further driving business growth.
See More
MGM China Reports 10% Revenue Growth in Q1
- Significant Revenue Growth: MGM China's net revenue for Q1 increased by 10% year-on-year to HK$8.8 billion, demonstrating the company's strong recovery in the Macau market and solidifying its position in the competitive gaming industry.
- Record Daily Gaming Revenue: Macau's daily gross gaming revenue (GGR) surged by 19% year-on-year, reaching a historic high, reflecting an increase in visitor numbers and spending power, which lays a solid foundation for future profit growth.
- Steady Market Share Increase: MGM China's overall GGR market share stood at 15.4%, slightly down, but the mass market share grew to 16.2%, indicating enhanced competitiveness in attracting more regular tourists to its properties.
- Awards and Brand Impact: MGM China was recognized with seven Five-Star Awards from Forbes, with MGM MACAU achieving its 11th consecutive Five-Star rating, underscoring the company's ongoing commitment to delivering exceptional guest experiences and enhancing its brand image and market appeal.
See More
MGM Resorts Reports Record Q1 Financial Results Driven by MGM China and Digital Growth
- Significant Revenue Growth: MGM Resorts reported consolidated net revenues of $4.45 billion for Q1 2026, a 4.14% increase year-over-year, primarily driven by strong performances from MGM China and digital operations, indicating the company's recovery potential in global markets.
- Shareholder Return Strategy: The company repurchased approximately 2 million shares for $90 million in Q1, with a remaining repurchase capacity of $1.5 billion, demonstrating its commitment to enhancing shareholder value while maintaining a strong balance sheet.
- Regional Operations Performance: MGM's regional operations achieved casino revenues of $684 million in Q1, a 2% increase from the previous year, highlighting the growth potential in non-Las Vegas markets and further solidifying its market position.
- Strong Chinese Market: MGM China reported casino revenues of $977 million, up 9% year-over-year, with main floor table games win percentage rising to 27.1%, reflecting the company's sustained growth and profitability in the Asian market.
See More
MGM Resorts to Announce Q1 Earnings on April 29
- Earnings Announcement: MGM Resorts is set to release its Q1 2023 earnings report on April 29 after market close, with consensus EPS estimate at $0.53, reflecting a 23.2% year-over-year decline, and revenue estimate at $4.38 billion, indicating a 2.6% year-over-year increase.
- Historical Performance: Over the past two years, MGM has beaten EPS estimates 75% of the time and revenue estimates 75% of the time, showcasing a consistent financial performance that investors may rely on.
- Estimate Revision Trends: In the last three months, EPS estimates have seen one upward revision and eight downward revisions, while revenue estimates have experienced five upward and five downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Market Analysis: Recent analyses suggest that MGM's momentum in the Chinese market could lead to a clean earnings beat, while its expansion plans in Osaka are viewed as potential growth drivers for the company.
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
MGM Resorts Misses Q1 Profit Expectations Amid Las Vegas Slump
- Profit Miss: MGM's adjusted Q1 earnings per share of 49 cents fell short of Wall Street's expectation of 53 cents, indicating challenges in profitability amid ongoing macroeconomic uncertainty.
- Las Vegas Weakness: Revenue from Las Vegas Strip Resorts reached $2.2 billion, slightly above last year, yet declining visitor numbers have led to a slump in luxury vacation demand, impacting overall business performance.
- Overall Revenue Growth: Total revenue rose 4.1% to $4.45 billion in Q1, exceeding analysts' average estimate of $4.37 billion, demonstrating resilience in other business segments despite Las Vegas challenges.
- Strong China Performance: MGM China reported a 9% revenue increase to $1.1 billion, highlighting the continued growth of the company's operations in China and Macau, which serve as a crucial support for overall revenue.
See More
MGM China Reports 10% Revenue Growth in Q1
- Significant Revenue Growth: MGM China's revenue increased by 10% year-on-year in Q1, reflecting the company's strong recovery in the Macau market and sustained customer demand, thereby reinforcing its market leadership.
- Record Daily Visitors: The average daily visitor count in Macau rose by 14% year-on-year to 124,599, driving overall gaming revenue growth and indicating the positive impact of tourism recovery on the company's performance.
- Five-Star Recognition Reaffirmed: MGM received seven Five-Star Awards from Forbes Travel Guide, with MGM MACAU achieving its 11th consecutive Five-Star rating, highlighting the company's commitment and efforts in delivering exceptional guest experiences.
- New Dining Brand Launch: The opening of the renowned Singapore dining brand Chatterbox Café at MGM MACAU enhances the city's dining diversity, elevating Macau's global culinary reputation while attracting more visitors and further driving business growth.
See More
MGM China Reports 10% Revenue Growth in Q1
- Significant Revenue Growth: MGM China's net revenue for Q1 increased by 10% year-on-year to HK$8.8 billion, demonstrating the company's strong recovery in the Macau market and solidifying its position in the competitive gaming industry.
- Record Daily Gaming Revenue: Macau's daily gross gaming revenue (GGR) surged by 19% year-on-year, reaching a historic high, reflecting an increase in visitor numbers and spending power, which lays a solid foundation for future profit growth.
- Steady Market Share Increase: MGM China's overall GGR market share stood at 15.4%, slightly down, but the mass market share grew to 16.2%, indicating enhanced competitiveness in attracting more regular tourists to its properties.
- Awards and Brand Impact: MGM China was recognized with seven Five-Star Awards from Forbes, with MGM MACAU achieving its 11th consecutive Five-Star rating, underscoring the company's ongoing commitment to delivering exceptional guest experiences and enhancing its brand image and market appeal.
See More
MGM Resorts Reports Record Q1 Financial Results Driven by MGM China and Digital Growth
- Significant Revenue Growth: MGM Resorts reported consolidated net revenues of $4.45 billion for Q1 2026, a 4.14% increase year-over-year, primarily driven by strong performances from MGM China and digital operations, indicating the company's recovery potential in global markets.
- Shareholder Return Strategy: The company repurchased approximately 2 million shares for $90 million in Q1, with a remaining repurchase capacity of $1.5 billion, demonstrating its commitment to enhancing shareholder value while maintaining a strong balance sheet.
- Regional Operations Performance: MGM's regional operations achieved casino revenues of $684 million in Q1, a 2% increase from the previous year, highlighting the growth potential in non-Las Vegas markets and further solidifying its market position.
- Strong Chinese Market: MGM China reported casino revenues of $977 million, up 9% year-over-year, with main floor table games win percentage rising to 27.1%, reflecting the company's sustained growth and profitability in the Asian market.
See More
MGM Resorts to Announce Q1 Earnings on April 29
- Earnings Announcement: MGM Resorts is set to release its Q1 2023 earnings report on April 29 after market close, with consensus EPS estimate at $0.53, reflecting a 23.2% year-over-year decline, and revenue estimate at $4.38 billion, indicating a 2.6% year-over-year increase.
- Historical Performance: Over the past two years, MGM has beaten EPS estimates 75% of the time and revenue estimates 75% of the time, showcasing a consistent financial performance that investors may rely on.
- Estimate Revision Trends: In the last three months, EPS estimates have seen one upward revision and eight downward revisions, while revenue estimates have experienced five upward and five downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Market Analysis: Recent analyses suggest that MGM's momentum in the Chinese market could lead to a clean earnings beat, while its expansion plans in Osaka are viewed as potential growth drivers for the company.
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
