MGM Resorts International reported significant revenue growth for its 2023 financial year, attributing the success to record performances in both its China and Las Vegas operations. The company highlighted the arrival of Formula One in Las Vegas last fall and Super Bowl 58 as key drivers of this growth. Super Bowl weekend alone saw Las Vegas strip clubs experiencing record business, with MGM's hotels charging an average of $1,000 per night. Additionally, the event helped produce three of the top five room revenue days ever for MGM Resorts. The Las Vegas Strip's net revenue for 2023 was $8.8 billion, a 5% increase compared to 2022. The Super Bowl and its festivities attracted up to 450,000 visitors to Las Vegas, with spending over the long weekend potentially reaching $1.1 billion. MGM China also reported strong earnings, hitting a new high in over two years and achieving solid results in Q4 of 2023, with its market share rising in January as noted by UBS. Moreover, five jackpots totaling more than $600,000 were hit on the Las Vegas Strip over Super Bowl weekend.
#SuperBowl weekend was a huge success for Nevada’s economy. Thrilled to see all the incredible impacts it's had and will continue to have on our city's economy and reputation. https://t.co/W6ydO3gIzp
As Predicted Here, The First Super Bowl In Las Vegas Was "A Smash Success" https://t.co/isWdkovaYu https://t.co/vZ7G7ddixv
All of this, everybody. @capjack2000 is spot-on, per usual. Helluva week/weekend for #SuperBowl here in Vegas. Now onto #MarchMadness!⬇️ https://t.co/SC7OkTqgE8
#SuperBowl 58 helped produce three of the top five room revenue days ever for MGM Resorts, the company said in Tuesday’s fourth-quarter earnings call with investors. https://t.co/BwpJahTBBu
‘Las Vegas is the perfect home for the Super Bowl.’ Why the NFL loves Las Vegas as a Super Bowl host city, why the game will likely return by 2030 and other thoughts an obervations on Super Bowl week in Sin City. https://t.co/Khedo3EC92
Big events like the Formula 1 Las Vegas Grand Prix and Super Bowl 58 have led to record profits, according to MGM Resorts International. https://t.co/zKiu8xl3SQ
MGM China achieved solid results in Q4 of 2023, market share rose in Jan – UBS https://t.co/EdNFjAiuZl https://t.co/J8DxGTZxPA
MGM China hit new high in over two years after reporting strong earnings for 2023 https://t.co/2Zg9Oqvlik
The number of people who visited Las Vegas for the #SuperBowl and its festivities could now reach as high as 450,000, officials say. And spending over the long weekend could reach as high as $1.1 billion. https://t.co/ycP7CuZQDk
"MGM Resorts says it rocketed to new earnings records in 2023, driven in part by the arrival of Formula One in Las Vegas. ... For Las Vegas Strip resorts, the net revenue for 2023 was $8.8 billion, up 5% compared to 2022." - @News3LV https://t.co/k8cdwOFT2L
MGM’s hotels charged $1,000 a night on average for the Super Bowl, but the stock suffers a hangover https://t.co/Eu09phSjR7
Five jackpots totaling more than 600,000 hit on the Las Vegas Strip over #SuperBowl weekend. https://t.co/sqGLasvJFN
Super Bowl 58 was big revenue driver for MGM Resorts https://t.co/PqV5HPulaA via @reviewjournal
#ICYMI: MGM is reporting new revenue records following Super Bowl LVIII. https://t.co/KoN3Sbo3HZ
Touchdown! Super Bowl brings big economic victory to Las Vegas https://t.co/Bz93RZBcJz via @reviewjournal, @mckenna_ross_
MGM Resorts says it rocketed to new earnings records in 2023, driven in part by the arrival of Formula One in Las Vegas last fall. https://t.co/uILEZ7pRMu
Las Vegas strip clubs had a RECORD weekend during the Super Bowl. Business was booming, and OutKick has the exclusive details! READ: https://t.co/v8II1tPLoD https://t.co/NPWcfs4MIe
MGM Resorts posted a year-on-year increase in revenue for its 2023 financial year following record performances by its business in both China and Las Vegas https://t.co/NSj97nOZmk https://t.co/BnrulETToz