Record Performance in Macau
MGM China achieved record third-quarter EBITDAR despite a typhoon impact. Market share reached a record 15.5%, and October pacing shows a 16.5% market share with over $100 million in EBITDA.
Strong Digital and BetMGM Performance
BetMGM reached an all-time revenue high in 3Q, with improved profitability. It plans to start distributing cash back to MGM Resorts, expecting at least $100 million in the fourth quarter.
Strategic Sale of Northfield Park
MGM sold Northfield Park for $546 million in cash, achieving a sale multiple of 6.6x, significantly higher than MGM’s current share price valuation.
Positive Signs in Las Vegas
Despite a challenging summer, MGM sees signs of stabilization with strong group demand in November and December, driving stabilization in the business.