MGM’s Q2 earnings in Las Vegas double

In the second quarter, MGM Resorts International earned $825.3 million in pre-tax earnings at its Las Vegas properties, representing a 108% year-over-year increase, along with $3.26 billion in total revenue, up 44% from the same period last year. The positive results are largely due to the $4.4 billion in cash the company received from a deal with VICI Properties that deconsolidated MGM Growth Properties, and MGM’s subsequent purchase of the operations of The Cosmopolitan of Las Vegas.