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MGM Resorts International (NYSE:MGM) reported third-quarter results Thursday that missed Wall Street estimates, confirming recovery on the Las Vegas Strip is a slow-moving process. us casino online no deposit bonus MGM’s Bellagio on the Strip, seen here. draftkings casino website Las Vegas results improved in Q3, but there’s still work to be done. (Image: CNBC)The Bellagio operator lost . 08 a share on revenue of $paragon casino winners1. 13 billion during the July through September period. ocean online casino no deposit bonus code Analysts expected a per share loss of . River Spirit Casino Shuttle Napc 06 on turnover of . 30 billion. Adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA) of -. 8 million beats the consensus estimate of - million. 7 in 1 casino roulette

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We saw sequential improvements in all of our markets in the third quarter, and our regional properties have led the pace of recovery with several properties generating record operating performance,” said CEO Bill Hornbuckle on a conference call with analysts and investors. Still grappling with the effects of the coronavirus pandemic, the Mirage operator posted third-quarter EBITDA of million in its home market on revenue of 1 million. Admiral Casino Hounslow Prqx That’s up from a second-quarter EBITDA loss of 4 million on sales of 1 million. cashman casino online free The Strip, where it’s the largest operator, accounts for approximately half of MGM’s EBITDA. All About VegasIn a normal operating environment, MGM’s deep Strip exposure is a plus. bellagio casino covid But 2020 is anything but normal, and with a COVID-19 vaccine still months away, the gaming company remains vulnerable to sluggish business traffic and tourists’ reluctance to fly to destination markets. “With no signs that the group/convention business will be recovering anytime soon, we would prefer to stay on the sidelines,” said Stifel analyst Steven Wieczynski in a note out late Thursday. He rates MGM stock “hold,” with a price target, implying modest upsparagon casino winnerside from the Oct. riverwind casino wallflowers casino extreme blog 29 close of . big dollar casino new player bonus 29. 2 casino bonus On the bright side, all of the company’s Strip venues are reopened and generated positive earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) during September.

Additionally, the pandemic forced gaming companies to reach for cost savings. That’s something MGM is executing in significant fashion, with executives saying the operator found 0 million in reductions, which it expects will remain permanent even as business gradually returns to normal. Harrah S Casino App Wgpb Following a recent debt sale, MGM had . 50 billion in domestic liquidity as of Sept. 30, excluding stakes in MGM China and MGM Growth Properties. nearest casino to nashville Not Focusing on M&AWhile consolidation is brisk in the gaming industry these days and Strip venues are up for sale, presumably at lower prices than were available pre-pandemic, Hornbuckle said acquisitions aren’t a priority for the company today. “And look, we’ll be opportunistic. We’re not

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