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Net income attributable to MGM Resorts was $161 million in the current quarter compared to a net loss of $577 million in the prior year period.

The turnaround was attributed to the increase in net revenues in the current quarter and a decrease in amortization expense of $1.2 billion relating to the MGM Grand Paradise gaming sub-concession. The company recorded an operating income of $370 million compared to an operating loss of $1 billion in the prior-year quarter. With the incident now behind us, we are a stronger company having been through the challenge,' said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts. While we were faced with a difficult cybersecurity issue in September, our employees rose to the occasion with incredible resilience and determination. 'We started the quarter with great momentum across our businesses. The gains in China partially offset the decrease in revenues at its Las Vegas Strip Resorts and Regional Operations due to the dispositions of The Mirage and Gold Strike Tunica, as well as the cybersecurity issue in September 2023. This was primarily attributed to an increase in revenue at MGM China due to the removal of COVID-19-related entry restrictions in Macau. Benefiting from the relaxation of pandemic-related entry restrictions in Macau, MGM Resorts International exceeded market expectations for the third quarter, witnessing a substantial upswing in both profit and revenue.Ĭonsolidated net revenues increased 16% to $4 billion in Q3 from $3.4 billion in the same period last year.

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