The upside was attributed to the removal of COVID-19-related travel restrictions in Macau and an increase in visitation. MGM Chinaĭuring the third quarter, MGM China's net revenues surged 829% year over year to $813 million. This was marginally offset by a decline in revenues at MGM’s Las Vegas Strip Resorts and Regional operations due to dispositions of The Mirage and Gold Strike Tunica as well as the cybersecurity issue in September 2023. The top line improved 16% year over year on the back of a rise in revenues at MGM China following the removal of COVID-19-related entry restrictions in Macau.

Total revenues were $3,973.2 million, outshining the Zacks Consensus Estimate of $3,846 million by 3.3%.

In the prior-year quarter, it incurred adjusted loss per share of $1.39. MGM Resorts reported earnings per share (EPS) of 64 cents, outpacing the Zacks Consensus Estimate of 55 cents. Following the results, the stock rose 2.5% in the after-hour trading session on Nov 8. The top and bottom lines increased on a year-over-year basis. Both metrics beat the consensus estimate for the fourth consecutive quarter. MGM Resorts International ( MGM Quick Quote MGM - Free Report) reported impressive third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate.