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The ravages of lockdown appear to be in the rear view mirror for MGM Resorts after the company reported an eye-popping 87.5 percent revenue jump over 2020. But that huge number was just one of a constellation of good news MGM Resorts reported to investors late last week.
Practically every division of MGM Resorts saw their numbers rise dramatically from 2020, a year that was marked with catastrophic shutdowns.
On the top line, MGM Resorts reported revenue of $9.8 billion for the year. That’s up 87.5 percent over the $5.16 billion the company brought in in 2020. In Las Vegas, MGM took in $4.75 billion, up 110 percent from 2020. Across the globe, MGM China brought in $1.1 billion for an increase of 84 percent over the previous year. As a whole, MGM Resort’s non-Las Vegas operations were up 72 percent and brought in a total of $3.39 billion worth of revenue.
In a statement posted on the MGM Resorts website,Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International, praised the good 2021 news saying, “Our record fourth quarter results are a testament to our talented team across the globe, our sharpened focus on operational efficiency and the proven resiliency of demand for the service and experiences that we provide at MGM Resorts. The strategic milestones we achieved in 2021 position us for further success in 2022, and we remain excited about our long-term opportunities including: leading the U.S. sports betting and iGaming market through BetMGM, pursuing disciplined geographic expansion such as the Japan integrated resort, and reinvesting in our core business to drive sustainable growth.”
The global gaming company is looking to see more good news from the revenue front in 2022 and is hoping that a revamped rewards program will help bring in players and guests to bump up those numbers.