MGM Q3 results fall below expectations

MGM Resorts’ third quarter results revealed a net loss widening to US$534.7 million, a figure that was worse than what some analysts had predicted. MGM China reported an Adjusted EBITDA loss of HK$730.6 million (US$94 million) during the same period.

Bill Hornbuckle, CEO of MGM Resorts International, stated, “We remain focused on responding to the pandemic with effective health and safety protocols. We have modified our operating model to adapt to the current environment and we are executing on our long-term growth initiatives, particularly in US sports betting and iGaming, where BetMGM has gained significant momentum.”

MGM Resorts International reports third quarter financial and operating results (press release)

MGM China Inside Information (HKSE filing)