MGM Resorts International (MGM) stock surged 9.95% in pre-market trading on Thursday, following the company's impressive fourth-quarter 2024 earnings report and optimistic outlook for 2025. The casino operator reported record revenues and profitability across various segments, fueled by robust demand and successful strategic initiatives.
The key drivers behind MGM's pre-market rally were its strong performance in Macau, where it achieved record full-year segment adjusted EBITDAR, and the continued growth momentum of its digital business, BetMGM. Additionally, the company's solid performance in Las Vegas, with record slot win and hotel revenue, coupled with positive indicators for future bookings, contributed to the stock's surge.
Looking ahead, MGM expressed confidence in its ability to sustain growth across its operations. The company's strategic investments in renovations and brand integrations in Las Vegas are expected to drive increased guest visitation and spending. Furthermore, BetMGM's anticipated revenue growth to $2.4 billion to $2.5 billion in 2025, along with the expansion of MGM's digital operations in Europe and Brazil, position the company for continued success in the rapidly growing online gaming market.
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