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MGM Resorts and Evolution Gaming state a profitable year

Evolution Gaming’s operating income increased by 38% to € 245.4 million ($ 287.5 million) in 2018. Improvement in performance also noted MGM Resorts.

The company’s EBITDA increased by 107% (€ 107.7 million), and the profit amounted to € 83.5 million (an increase of 26%). The stock price also increased by 34% and is € 2.32.

MGM Resorts Evolution Gaming

In the fourth quarter, Evolution Gaming’s operating revenue grew by 38% compared to the same period last year and amounted to € 70.2 million.

EBITDA increased by 40% to € 31.6 million, and profit for the period amounted to € 25.5 million, an increase of 42%.

Martin Carlesund, CEO of Evolution Gaming, commented on the performance: “The company continues to strengthen its position in North America. In the fourth quarter, we entered into contracts with several new customers in the United States. In addition, we made the first acquisition in the history of Evolution – Ezugi, with which the company will expand its presence in the United States. ”

MGM Resorts consolidated profit increased by 9% in 2018 and amounted to $ 11.8 billion.

Nevertheless, the company’s results are not uniform, the Las Vegas Strip resorts’ net sales decreased by 1%, regional companies increased by 8%, and MGM China increased by 32%.

Consolidated operating profit for the year was $ 1.5 billion, a decrease of 13%, and MGM Resorts’ net profit was $ 467 million (a decrease of $ 1.5 million).

The operator announced an increase in EBITDA by 1% compared to last year’s figure – $ 3.1 billion. Losses amounted to $ 23 million.

Jim Murren, Chairman of the Board of Directors and CEO of MGM Resorts International, said: “We managed to successfully complete the year. The fourth quarter spurred growth in all segments of the Las Vegas business. The Las Vegas Strip has reached record EBITDA since 2007. ”

Recall that MGM Resorts International entered the Forbes list as one of America’s best employers for diversity in 2019.

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