MGM Resorts reports Q1 adjusted EPS 74c, consensus 56c

Reports Q1 revenue $4.4B, consensus $4.24B. “Our strategic growth plan to drive sustainable free cash flow from our resort operations, develop free cash flow by investing in international digital and luxury integrated resorts, and return capital to shareholders through share repurchases continued to develop in the first quarter of 2024,” said Bill Hornbuckle, Chief Executive Officer & President of MGM Resorts International. “We achieved record consolidated revenues in the first quarter. The January launch of our license agreement with Marriott has surpassed our initial expectations with over 130,000 room nights booked and we expect the strategic relationship will be a growth driver this year.”