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MGM Resorts Q3 Earnings Miss Estimates, Revenues Rise Y/Y, Stock Down
ZACKS· 2025-10-30 17:51
Core Insights - MGM Resorts International reported third-quarter 2025 results with earnings missing estimates but revenues slightly exceeding expectations, leading to a 3.8% decline in shares after hours [1][4][8] Financial Performance - Earnings per share (EPS) for the quarter was 24 cents, below the Zacks Consensus Estimate of 37 cents, and down from 54 cents in the prior-year quarter [4][8] - Quarterly revenues reached $4.25 billion, surpassing the consensus mark of $4.22 billion by 0.8%, and increased by 1.6% year over year [4][8] - Consolidated adjusted EBITDA decreased by 12% year over year to $505.8 million [5] Segment Performance - MGM China's net revenues rose 17% year over year to $1.1 billion, driven by higher casino revenues, which increased by 18% to $947 million [6][7] - Adjusted property EBITDAR for MGM China was $284 million, up from $237.4 million in the prior-year quarter [7] - Domestic operations on the Las Vegas Strip saw net revenues of $2 billion, down 7% year over year due to room remodels and declines in RevPAR, table games win percentage, and food and beverage revenues [9][10] - Regional Operations reported net revenues of $956.9 million, slightly up from $952.1 million in the prior-year quarter, with adjusted property EBITDAR at approximately $295.5 million [10] - MGM Digital's net revenues increased to $174 million from $141.2 million in the prior-year quarter, although adjusted property EBITDAR loss was approximately $23.2 million [11] Strategic Developments - The company's performance was supported by portfolio diversification, strategic partnerships, and strong contributions from the BetMGM venture and regional operations [2] - MGM Resorts remains optimistic about future growth opportunities in Brazil and Dubai despite challenges in Las Vegas [3] - The company took a loan of $300 million at an interest rate of approximately 2.5% to support the MGM Osaka project [13] Balance Sheet - MGM Resorts ended the quarter with cash and cash equivalents of $2.13 billion, down from $2.42 billion at the end of 2024, while long-term debt decreased to $6.16 billion from $6.36 billion [12]
Nature’s Sunshine Appoints Kenneth Romanzi as CEO
Globenewswire· 2025-10-15 13:00
Core Insights - Nature's Sunshine Products, Inc. has appointed Kenneth Romanzi as the new CEO, effective October 29, 2025, succeeding Terrence Moorehead [1][3] Company Overview - Nature's Sunshine is a leading manufacturer of high-quality herbal and nutritional supplements, operating in over 40 countries and focusing on natural health and wellness [8] - The company manufactures most of its products in state-of-the-art facilities to ensure high quality, safety, and efficacy [8] Leadership Experience - Kenneth Romanzi has over 40 years of experience in the consumer packaged goods (CPG) industry, including significant roles at B&G Foods, Nabisco, and Ocean Spray [4][5] - At B&G Foods, he expanded revenue from $1.6 billion to $2 billion and improved profitability while reducing leverage [2][4] - Romanzi has held various leadership positions, including President and CEO of The Ultimate Juice Company and President of the U.S. toys division at Hasbro [5] Strategic Vision - The Board of Directors believes Romanzi's transformational leadership will accelerate the company's digital empowerment and omnichannel offerings [3] - Romanzi expressed commitment to driving sustainable, long-term profitability and shareholder value while enhancing the company's global brand promise [3]
Galaxy Gaming® and Hasbro Announce Licensing Agreement for World-Famous Games
Globenewswire· 2025-07-01 13:30
Core Insights - Galaxy Gaming, Inc. has entered into a multi-year licensing agreement with Hasbro, Inc. to develop casino table games based on Hasbro's iconic titles [1][2] - The partnership aims to combine Galaxy Gaming's expertise in casino experiences with Hasbro's well-known brands, including MONOPOLY, YAHTZEE, and BATTLESHIP [2][3] - The first games from this collaboration are expected to debut at the Global Gaming Expo (G2E) 2025 and will be available in casinos by early 2026 [3] Company Overview: Galaxy Gaming - Galaxy Gaming is a leading independent developer and distributor of casino table games and technology, headquartered in Las Vegas, Nevada [4] - The company offers innovative games and technology solutions to both physical and online casinos worldwide, holding 131 licenses globally, including in 28 U.S. states [4] Company Overview: Hasbro - Hasbro is a prominent games, IP, and toy company with over 164 years of experience, focusing on creating joy and community through play [5] - The company reaches over 500 million consumers globally through various mediums, including physical and digital games, toys, and entertainment [5][6]