MGM Resorts reported record revenue of $4.2 billion for the third quarter of 2024. The company’s results were buoyed by record revenue of $929 million for MGM China and record adjusted property EBITDAR of $1.1 billion.

“We are pleased to report record consolidated net revenues for the third quarter, driven by record results from MGM China,” said MGM CEO and President Bill Hornbuckle in a statement.

Las Vegas resorts also provided strong returns.

“In Las Vegas, we drove sequential improvement throughout the quarter and many key metrics are demonstrating strength, including growth in ADR and occupancy,” Hornbuckle said. “MGM Resorts is well positioned for long-term growth, driven by the positive inflection to come in our digital investments, alongside the enviable integrated-resorts pipeline of development that we have in Japan, as well as opportunities in New York and beyond.”

Net income during 3Q24 was $185.0 million, compared to $161.0 million year over year.

At Las Vegas Strip properties, revenue was $2.1 billion, an increase of 1% compared to 3Q23, primarily due “an increase in non-gaming revenue, partially offset by a decrease in casino revenue,” according to a release. Adjusted EBITDAR was $731 million in 3Q24 compared to $714 million in the third quarter of 2023, a 2% increase.

At regional properties, revenue was $952 million in 3Q24 compared to $925 million year over year, an increase of 3% “primarily due to an increase in revenue.” Adjusted EBITDAR was $300 million compared to $293 million in 3Q23, an increase of 2% and including approximately $37 million of business-interruption proceeds related to the September 2023 cybersecurity issue.

MGM also announced it was returning more than $300 million to shareholders.

“Since 2021, we have consistently demonstrated our commitment to returning cash to shareholders, reducing overall shares outstanding by 40%,” said MGM Resorts CFO and Treasurer Jonathan Halkyard. “Our balance sheet, characterized by low net debt and significant liquidity, positions us exceptionally well for strategic investments and sustained growth.”