One of the largest casino and hotel operators MGM Resorts International published a report for the first financial half of 2020 year ending June 30. Due to the restrictions associated with the coronavirus pandemic, the company's performance has deteriorated sharply.

Compared to the data for the same period last year, the organization's net profit fell by 60.3%, stopping at $2.54 billion. MGM Resorts International posted a net loss of $50.4 million for the two quarters.

The coronavirus pandemic has had a direct impact on the company's performance. For most of the reporting financial period, casinos and hotel complexes in the US and Macau, owned by MGM Resorts International, were closed.

Despite the sharp decline, the company plans to continue expanding by opening new properties in Japan and increasing its share in the Macau gambling sector.

Note that the crisis did not stop Eldorado Resorts, one of the main competitors of MGM Resorts International,acquire Caesars Entertainment for $17.3 billion.