MGM Resorts sees hotel occupancy spike to 73%
Monday 03 de May 2021 / 08:25
⏱ 1 min read
(Las Vegas).- MGM Resorts trades higher in premarket action after topping Q1 estimates as customers flooded back into U.S. casinos. Importantly, Las Vegas hotel occupancy averaged 62% in March before accelerating to 73% in April (month-to-date).
"Notably, March was one of the best months on record for total gross bookings in MGM's Las Vegas history, evidencing the amount of pent-up leisure demand. With the influx of bookings, weekend occupancy in the spring and summer months is tracking near 90%. This should allow MGM to begin yield optimizing its room base, with ADR expected to firm up in 2H21 and potentially hit or exceed 2019 levels in 4Q21," updates Union Gaming analyst John DeCree on the big quarter.
MGM also surprised by returning to a capital allocation mode with share buybacks of $119M in Q1.
Union Gaming raises its FY21 Las Vegas adjusted property EBITDAR estimate to $653M from $512M. The firm bumps its price target up to $54 following the Q1 print.
Shares of MGM are up 1.44% premarket. Peer Caesars Entertainment (NASDAQ:CZR) is 1.05% higher.
Categoría:Casino
Tags: Sin tags
País: United States
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
ProntoPaga Consolidates Its Position at Peru Gaming Show 2026
(Lima, SoloAzar Exclusive).- Juan Carlos Loza, Head of Sales Latam at ProntoPaga, spoke exclusively after the company's participation in Peru Gaming Show 2026, highlighting the agreements reached, the interest in their payment solutions, and the expansion plans that will drive their growth across Latin America.
Monday 03 Aug 2026 / 12:00
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
