MGM Resorts (MGM) reported Q4 EPS of ($1.53), $0.06 worse than the analyst estimate of ($1.47). Revenue for the quarter came in at $3.6 billion versus the consensus estimate of $3.34 billion.
- On February 8, 2023, the Company announced that its Board of Directors had authorized a new $2.0 billion share repurchase plan. Furthermore, the Company announced that our Board of Directors had determined to suspend our ongoing regular dividends in order to focus on our preferred method of returning value to shareholders through our share repurchase plan. To the extent the Company determines to reinstate the dividend in the future, the amount, declaration and payment of any future dividends will be subject to the discretion of the Board of Directors who will evaluate the Company's dividend policy from time to time based on factors it deems relevant, and contractual limitations.