MGM Resorts has reported both its nine- and three-month results for the periods ending September 30, showing a record Q3 net revenues of US$4.2bn.

MGM Resorts

The Las Vegas resorts brought in a net revenue for Q3 of $2.1bn, a one per cent increase against the previous year, while $952m came from regional operations and $929m from MGM China.

Adjusted EBITDAR was $1.1bn.

"We are pleased to report record consolidated net revenues for the third quarter, driven by record results from MGM China,” said Bill Hornbuckle, CEO and president of MGM Resorts International. “In Las Vegas, we drove sequential improvement throughout the quarter and many key metrics are demonstrating strength including growth in ADR and occupancy.

"MGM Resorts is well positioned for long-term growth driven by the positive inflection to come in our digital investments alongside the enviable integrated resorts pipeline of development that we have in Japan as well as opportunities in New York and beyond."

Jonathan Halkyard, CFO and treasurer of MGM Resorts International, added: "During the quarter, we returned over $300m to shareholders through share repurchases, bringing our year-to-date total to approximately $1.3bn.

"Since 2021, we have consistently demonstrated our commitment to returning cash to shareholders, reducing overall shares outstanding by 40 per cent. Our balance sheet, characterised by low net debt and significant liquidity, positions us exceptionally well for strategic investments and sustained growth."