PR Newswire
LAS VEGAS, Feb. 13, 2024
LAS VEGAS, Feb. 13, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter and year ended December 31, 2023.
"Our Las Vegas Strip Resorts and MGM China set new all-time records for full year and fourth quarter Adjusted Property EBITDAR," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts. "Our premium positioning and offerings in Las Vegas enable us to capture incremental profit during major events such as the inaugural Formula 1 race and our first Super Bowl. 2024 is off to a winning start with the launch of our Marriott relationship as well as opportunities to increase our convention room nights and international mix."
"Yesterday, we closed on an amendment and extension to our senior secured credit facility, providing us with $610 million in additional capacity and extending the maturity by over two years to 2029," said Jonathan Halkyard, Chief Financial Officer and Treasurer of MGM Resorts. "We continue to see great value in our shares and are returning capital to shareholders by repurchasing our shares. We have already bought back approximately 6 million shares for an estimated $249 million year-to-date, adding to the approximate 54 million shares that we repurchased in 2023, totaling $7.1 billion of repurchases since 2021."
Fourth Quarter 2023 Financial Highlights:
Consolidated Results
Las Vegas Strip Resorts
Kurzfristig positionieren in MGM Resorts International Ltd. | ||
VM1PJA
| Ask: 0,58 | Hebel: 4,01 |
mit moderatem Hebel |
Zum Produkt
| |
Regional Operations
MGM China
Adjusted EPS
The following table reconciles diluted earnings per share ("EPS") to Adjusted EPS (approximate EPS impact shown, per share; positive adjustments represent charges to income):
Three Months Ended December 31, | 2023 | | 2022 |
Diluted earnings per share | $ 0.92 | | $ 0.69 |
Property transactions, net | 0.02 | | (2.74) |
Non-operating items: | | | |
Gain related to debt and equity investments | (0.11) | | (0.10) |
Foreign currency transaction loss (gain) | 0.25 | | (0.04) |
Change in fair value of foreign currency contracts | (0.06) | | — |
Income tax impact on net income adjustments (1) | 0.04 | | 0.65 |
Adjusted EPS | $ 1.06 | | $ (1.54) |
| |
(1) | The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the jurisdiction in which it occurs. |
Full Year 2023 Financial Highlights:
Consolidated Results
Las Vegas Strip Resorts
Regional Operations
MGM China
Adjusted EPS
The following table reconciles EPS to Adjusted EPS (approximate EPS impact shown, per share; positive adjustments represent charges to income):
Twelve Months Ended December 31, | 2023 | | 2022 |
Diluted earnings per share | $ 3.19 | | $ 3.49 |
Property transactions, net | (1.04) | | (2.53) |
Gain on REIT transactions, net | — | | (5.52) |
Non-operating items: | | | |
Gain related to debt and equity investments | — | | (0.03) |
Foreign currency transaction loss | 0.28 | | 0.01 |
Change in fair value of foreign currency contracts | 0.02 | | 0.09 |
Change in fair value of unhedged MGP swaps | — | | (0.03) |
Income tax impact on net income adjustments(1) | 0.22 | | 1.79 |
Adjusted EPS | $ 2.67 | | $ (2.73) |
(1) | The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the jurisdiction in which it occurs. |
The current year includes a non-cash income tax benefit of $149 million due to a decrease in the valuation allowance on foreign tax credit carryforwards. The prior year also included a non-cash income tax benefit of $296 million to record the deferred tax impact of the extension of the exemption from the Macau 12% complementary tax and a non-cash income tax benefit of $37 million to record the impact of the VICI transaction on state deferred tax liabilities, partially offset by a non-cash income tax charge of $90 million resulting from an increase in the valuation allowance on Macau deferred tax assets and a non-cash income tax charge of $59 million to record the deferred tax impact of income tax regulations governing combined reporting in New Jersey that were issued in the prior year.
Las Vegas Strip Resorts
The following table shows key gaming statistics for Las Vegas Strip Resorts:
Three Months Ended December 31, | 2023 | | 2022 | % |
| (Dollars in millions) | | ||
Casino revenue | $ 589 | | $ 554 | 6 % |
Table games drop | $ 1,702 | | $ 1,569 | 8 % |
Table games win | $ 540 | | $ 375 | 44 % Werbung Mehr Nachrichten zur MGM Resorts International Ltd. Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. |