MGM Resorts International reported consolidated net income of $3.1 billion for the fourth quarter of 2021.
Consolidated adjusted EBITDA was $821 million, while MGM Resorts’ net income was $131 million, compared to a group attributable net loss of $448 million in the prior-year quarter.
Las Vegas Strip operations accounted for $1.8 million of total revenue, an increase of 277% over the prior-year period. Property EBITDA for Las Vegas Strip operations grew 1,196% to $699 million.
Regional operations posted revenue of $900 million, up 51% from the year-ago quarter, with Property EBITDA growing 95% to $309 million.
And MGM China’s net revenue represented $315 million of total revenue, up 3% from the year-ago quarter. MGM China’s Adjusted Property EBITDA, however, dropped 88% to $5 million.
“Our record fourth quarter results are testament to our talented team around the world, our heightened focus on operational efficiency and the proven resilience of demand for the services and experiences we offer at MGM Resorts,” said MGM Resorts CEO and President. International, Bill Hornbuckle.
“The strategic milestones we achieved in 2021 position us for greater success in 2022, and we remain excited about our long-term opportunities, including: leading the American sports betting and iGaming market through BetMGM, pursuing disciplined geographic expansion such as integrated resort in Japan, and reinvest in our core business to drive sustainable growth.”
“As part of these efforts, we are proud to have recently launched our new loyalty program, MGM Rewards, which offers an enhanced and even more streamlined experience to millions of our members around the world,” concluded Hornbuckle.
