MGM Resorts International's net profit fell by 60.3%

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.

Telegram channel new bonuses and free spins every day
Richard "Boz" Bosworth is the main partner and CEO of the young company JC Hospitality, LLC ...
Position: Author of analytical materials Higher education Age: 24 years old Experience: more than 5 years Brief biography: Born on March 24, 1997 in the city of Volkhov, Leningrad Region. In 2015, he successfully graduated from a comprehensive school, after which he entered the Faculty of Mechanics and Mathematics...
There are no reviews yet. Help other users with a choice - be the first to share your opinion about this review and get a unique bonus.
In order to add a comment, please log in: