Wynn misses third-quarter profit, revenue estimates on weak Las Vegas business [Yahoo! Finance Canada]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: Yahoo! Finance Canada
Revenue from its Las Vegas operations declined by 1.9% to $607.17 million, mainly due to a 13.6% year-over-year dip in casino revenue. This was partially offset by a 20% rise in entertainment, retail and other sales. Last week, rival MGM Resorts also posted weak sales from its Vegas casinos, attributing the decline to a loss of "high-end bulk business" in the third quarter. "The timing of the trips from these largest customers is not, of course, our choice and so some of that just didn't fall in this third quarter as we would have expected it to," MGM said during its post-earnings call last week. Wynn's total revenue for the third quarter came in at $1.69 billion, compared with analysts' average estimate of $1.73 billion, according to data compiled by LSEG. The company reported a lower-than-expected quarterly adjusted profit per share of 90 cents, missing Wall Street's projected earnings of $1.10. (Reporting by Anshuman Tripathy and Aishwarya Jain in Bengaluru; Editing by M
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MGM
News
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- MGM casino exec flags major headwinds hurting its pockets in 2025 [Yahoo! Finance]Yahoo! Finance
- MGM Resorts International (MGM) Yet Again Delivers Record Revenue in Q3 [Yahoo! Finance]Yahoo! Finance
- The Rose Gaming Resort brings jobs, revenue, and slots to Virginia [Yahoo! Finance]Yahoo! Finance
- Wynn misses third-quarter profit, revenue estimates on weak Las Vegas business [Yahoo! Finance]Yahoo! Finance
MGM
Earnings
- 10/30/24 - Miss
MGM
Sec Filings
- 11/12/24 - Form SC
- 10/30/24 - Form 10-Q
- 10/30/24 - Form 8-K
- MGM's page on the SEC website