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Benzinga
Benzinga
Business
Wayne Duggan

MGM Resorts Analysts React To Q1 Earnings Beat, LeoVegas Acquisition, Macau Weakness

MGM LeoVegas Vegas Macau MGM Resorts International NYSE Thomas Allen Bank of America Credit Suisse Las Vegas Strip

MGM Resorts International (NYSE:MGM) shares traded lower by 3.5% on Tuesday after the company reported first-quarter earnings and revenue beats but a quarterly drop in Las Vegas Strip occupancy.

On Monday, MGM reported adjusted first-quarter EPS of 1 cent, exceeding analyst estimates of an 8-cent loss. Revenue for the quarter was $2.9 billion, slightly ahead of analyst expectations of $2.8 billion. Revenue was up 73.2% from a year ago.

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