Michigan strips two clerks in small town of election duties over hand count plan
What you need to know about the 2024 US presidential election
BOJ to keep rates steady as politics muddles outlook
IMF board approves Kenya's reviews, unlocking access to $606 million
Siemens to buy engineering software firm Altair for $10.6 billion
Accuser of Sean 'Diddy' Combs cannot remain anonymous, judge rules
‘Emily in Paris’ star Lucas Bravo mulling exit from show because he’s ‘frustrated’ with his character’s direction
Second gambler admits trying to cash in on scheme involving ex-NBA player Jontay Porter
(Reuters) - MGM Resorts International beat Wall Street's second-quarter estimates on Wednesday, thanks to a strong recovery in Macau following the easing of pandemic-related restrictions last year.
Shares of the company were up 1.5% in extended trading.
Casino operators such as MGM and Wynn have seen increased traffic at their Macau gaming hubs, driven by a resurgence in travel and tourism spending in China, the world's second-largest economy.
Quarterly revenue at MGM China came in at $891 million, up 33% compared to last year.
MGM's total revenue rose 9.7% to $4.33 billion in the quarter through June, beating analysts' average estimate of $4.22 billion, according to LSEG data.
The Nevada-headquartered company's quarterly adjusted profit per share of 86 cents also came ahead of Wall Street expectations of 62 cents.
(Reporting by Anandita Mehrotra and Aishwarya Jain in Bengaluru; Editing by Tasim Zahid)
