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MGM Resorts slips to Q2 loss as COVID-19 hits revenue

31st July 2020 9:51 am GMT
MGM Resorts

New York-listed casino operator MGM Resorts International has posted a net loss of $857.3m for the second quarter of 2020, as the impact of COVID-19 pushed revenue down to just $289.8m.

Net revenue fell by 91 per cent year-on-year due to the temporary suspension of domestic casino operations, continued travel restrictions in Macau, and social distancing restrictions in place at all properties.

Q2 2020 Net Revenue Comparison (US$)

The company’s Las Vegas Strip Resorts saw net revenue decline [...]

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