MGM Resorts International is striving to build upon previous profits growth plan, by outlining its new strategy which it expects to deliver adjusted EBITDA uplift of $300m across its domestic resorts.
Designed to build upon its previous profits growth the plan implemented four years ago, as well as themes outlined in MGM’s 2018 Investor Day, the company is aiming to position itself to maximise profitability.
Jim Murren, CEO and Chairman of MGM, said: “Today, we are taking the next step in our evolution as an organisation. We are building on the strong foundation that we have solidified over the past few years, to deepen our efficiencies and achieve sustained growth and margin enhancement enhancement.
“When we launched our profit growth plan a few years ago, we transformed our culture to embrace a ‘one company’ approach to operations, create best practices and efficiencies, and drive significant adjustment EBITDA growth and Margin Expansion.
“Importantly, during this time, we established Key centralised strategic function and developed crucial operational expertise to enable best practices. These Cornerstone strengths allowed us to exceed our initial expectation on our profit growth plan, as we currently operate many of the most profitable destinations in Las Vegas and across our regional markets.”
“We will enter two attractive markets in New York and Ohio. We will continue to work towards cementing MGM Resorts as the leader in sports, following the Milestone achieved in 2018 with GVC and the professional sports league.”