Casino Operators Report Mixed Q3 Results; MGM Achieves Record Revenue Despite Cyberattack, PlayAGS Posts $1.5m Net Loss

Red Rock Resorts, despite a decline in revenue, adjusted EBITDA, and net profit in Q3, anticipates a record performance in 2023. Playtika expects to meet adjusted EBITDA guidance despite reducing its revenue outlook after Q3 declines. PlayAGS posted a net loss of $1.5m in Q3, with higher expenses offsetting a 14.2% rise in revenue. MGM Resorts International reported record revenue of $3.97bn in Q3 despite a major cyberattack upheaval. Full House Resorts returned to net profit in Q3 with revenue increasing 72.7% to $71.5m, driven by improving results at its new land-based casino in Illinois. Century Casinos posted record net operating revenue of $161.2m in Q3 but slipped to a net loss following acquisitions. Wynn Resorts posted better-than-expected Q3 profit on Macau business recovery, while Macau casino stocks sank to the lowest in nearly a year, led by a slump in Wynn Macau as disappointing earnings cast doubts over the pace of recovery in the world's largest gambling hub.