April 26, 2018 / 12:54 PM / 7 months ago

BRIEF-MGM Resorts International Reports Q1 Earnings Per Share $0.38

April 26 (Reuters) - MGM Resorts International:

* Q1 EARNINGS PER SHARE $0.38

* Q1 EARNINGS PER SHARE VIEW $0.29 -- THOMSON REUTERS I/B/E/S

* QTRLY NET REVENUES DECREASED 1% OVER PRIOR YEAR QUARTER AT DOMESTIC RESORTS TO $2.1 BILLION

* FOR REMAINDER OF YEAR, EXPECT CONTINUED DISRUPTION AT MONTE CARLO AND ADDITIONAL TIME TO RECOVER AT MANDALAY BAY

* QTRLY NET REVENUES DECREASED 1% OVER PRIOR YEAR QUARTER AT COMPANY'S DOMESTIC RESORTS TO $2.1 BILLION

* MGM RESORTS - ADDITIONALLY IN Q2, CANCELLATION OF A "MAJOR PRIZE FIGHT" IN MAY MODERATES EXPECTATIONS, PARTICULARLY AT LUXURY PROPERTIES

* QTRLY REVPAR DECREASED 4.3% COMPARED TO PRIOR YEAR QUARTER AT COMPANY'S LAS VEGAS STRIP RESORTS

* EXPECT Q2 LAS VEGAS STRIP NET REVENUE TO BE UP SLIGHTLY AND LAS VEGAS STRIP REVPAR TO INCREASE 1 TO 3 PERCENT

* QTRLY REVENUE $2.82 BILLION VERSUS $2.71 BILLION REPORTED LAST YEAR

* Q1 REVENUE VIEW $2.82 BILLION -- THOMSON REUTERS I/B/E/S

* QTRLY DOMESTIC RESORTS ROOMS REVENUE DECREASED 5% COMPARED TO PRIOR YEAR QUARTER

* MGM RESORTS - EPS FOR Q1, INCLUDES A NON-CASH INCOME TAX BENEFIT OF $0.13 AND $0.04 DUE TO REVERSAL OF MACAU SHAREHOLDER DIVIDEND TAX ACCRUALS

* MGM RESORTS - IN H2, CITYWIDE CONVENTION ATTENDANCE IS EXPECTED TO BE UP, WITH Q3 FACING A DIFFICULT COMPARISON YOY, OFFSET BY GROWTH IN Q4 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below