LAS VEGAS, Aug. 26, 2025 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") will participate in the BofA Securities 2025 Gaming and Lodging Conference on Thursday, September 4, 2025. MGM Resorts management will speak at a session scheduled to begin at 10:40 a.m. ET. A live webcast of the session will be available under the Events & Presentation section of the MGM Investor Relations website at http://investors.mgmresorts.comAbout MGM Resorts InternationalMGM Resorts Intern ...

Core Viewpoint - Sonder Holdings Inc. reported its financial results for Q1 2025, highlighting a strategic licensing agreement with Marriott and ongoing compliance issues with Nasdaq [1][4][5]. Financial Highlights - Revenue for Q1 2025 was $118.9 million, a decrease of 11% year-over-year [9]. - Net loss for the quarter was $56.5 million, representing a 12% increase compared to the same period in 2024 [9]. - Adjusted EBITDA was $(56.7) million, a slight decrease of 1% year-over-year [9]. - RevPAR (Revenue Per Available Room) increased by 13% to $139 [9]. - Occupancy rate improved to 83%, up by seven percentage points year-over-year [9]. - Bookable nights decreased by 21% to 858,000 due to the Portfolio Optimization Program [9]. Compliance and Regulatory Issues - Sonder received a deficiency notification from Nasdaq for failing to timely file its Q2 2025 Form 10-Q [5][6]. - The company had previously received a notice for non-compliance regarding its 2024 Form 10-K filing [6]. - A compliance plan was submitted to Nasdaq, allowing up to 180 days to regain compliance [7]. Strategic Developments - Sonder completed the integration with Marriott in Q2 2025, with all properties now bookable through Marriott's platforms [4]. - The partnership with Marriott enhances Sonder's visibility and access to a broader customer base [4]. Cash Flow and Liquidity - Cash used in operating activities improved by 89% year-over-year to $4.4 million [9]. - Total cash, cash equivalents, and restricted cash amounted to $66.5 million as of March 31, 2025 [9]. - Adjusted Free Cash Flow was $(6.9) million, a 76% increase year-over-year [9].

Financial Data and Key Metrics Changes - Consolidated revenues for the first quarter were $148.8 million, an increase of $10.2 million or 7.4% compared to the prior year quarter, with revenue growth in both divisions [10] - Operating loss for the quarter was $20.4 million, a decline of $3.7 million compared to the prior year quarter [10] - Consolidated adjusted EBITDA for the first quarter was a loss of $0.3 million, a decrease of $2.6 million over the first quarter of fiscal 2024 [11] - Cash flow from operations was a use of cash of $35.3 million in the first quarter, compared to cash used by operations of $15.1 million in the prior year quarter [20] - Total capital expenditures during the first quarter were $23 million, compared to $15.4 million in the first quarter of fiscal 2024 [21] Business Line Data and Key Metrics Changes Theater Division - Total revenue for the first quarter was $87.4 million, an increase of 7.5% compared to the prior year first quarter [12] - Comparable theater admission revenue increased by 1.3% and comparable theater attendance increased by 6.9% compared to the prior year [12] - Theater division adjusted EBITDA was $3.7 million, compared to $6.2 million in the prior year quarter [17] Hotels and Resorts Division - Revenues were $61.3 million for the first quarter, an increase of 7.2% compared to the prior year [18] - RevPAR for comparable owned hotels grew by 1.1% during the first quarter, with an average daily rate (ADR) increase of 8% [18] - Hotels adjusted EBITDA increased by $1 million in the first quarter compared to the prior year quarter [20] Market Data and Key Metrics Changes - Comparable competitive hotels in the markets experienced RevPAR growth of 6.7% for the first quarter, indicating that the company's hotels underperformed the competitive set by 5.6 percentage points [19] - The upper upscale segment experienced an increase in RevPAR of 2.8% during the first quarter, indicating that the company's hotels underperformed the industry by 1.7 percentage points [19] Company Strategy and Development Direction - The company plans to maintain a focus on long-term value creation while managing short-term dynamics, with expectations for growth in both theater and hotel divisions [25] - The company is investing in enhancing customer experience through new ScreenX auditoriums and additional concession stands at Dine-in Movie Tavern locations [30][32] - The company is optimistic about the film slate for the rest of the year and into 2026, with several major franchises expected to perform well [34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the first quarter did not meet expectations but expressed optimism for the summer movie season and the overall outlook for the year [25][26] - The company is prepared to react quickly to any economic uncertainties that may arise, leveraging its diversified business model [26][40] - Management emphasized the importance of attendance and customer experience, indicating a thoughtful approach to pricing in a potentially slowing economy [29][46] Other Important Information - The company repurchased approximately 424,000 shares of common stock for $7.1 million in cash during the quarter [23] - The Hilton Milwaukee renovation is progressing as planned, with 65% of the guest rooms completed and expected to be fully operational by June 30 [39] Q&A Session Summary Question: Impact of concessions per patron - Management indicated that the change in food and beverage per caps was primarily due to pricing, with no significant changes in incidence or basket size [45] Question: Ability to take price increases - Management expressed confidence in their ability to manage pricing, noting that they have successfully passed through price increases in the past [46] Question: Hilton Milwaukee renovation pricing strategy - Management views the renovation as an opportunity to hold or potentially increase prices, especially with the upcoming convention center demand [47][50] Question: Impact of Marcus Movie Club on ticket pricing - Management reported that the initial results of the subscription product are positive, but its impact is still minimal [56] Question: Group pace and market dynamics - Management noted that group business is performing well, particularly in recently renovated properties, and that bookings are solid across several markets [58] Question: Labor expense impact and staffing levels - Management indicated that higher labor costs were due to a return to normal operating hours and that there is room for improvement in labor efficiency [75][76]

Financial Data and Key Metrics Changes - The company reported consolidated revenues of $188 million for the fourth quarter, an over 16% increase compared to the same period last year [7] - Fourth quarter operating loss was $2.2 million, impacted by a $6.4 million noncash impairment charge in the theater division and $2.4 million of non-recurring expenses [7] - Adjusted EBITDA for the fourth quarter was nearly $26 million, a 42% increase over the prior year [7] - For the full year, consolidated revenues increased just under 1%, with operating income of $16.2 million negatively impacted by $6.8 million of non-cash impairment charges [8] Business Line Data and Key Metrics Changes - The theater division's fourth quarter revenue was $121.2 million, a nearly 23% increase compared to the prior year [9] - Comparable theater admission revenue increased by 15.4%, with attendance up 29.1% due to a stronger film slate [10] - The hotel division's fourth quarter revenue was $57.6 million, a 5.4% increase compared to the prior year, with RevPAR growing 3.6% [15][16] Market Data and Key Metrics Changes - U.S. box office receipts increased 22.9% during the fourth quarter compared to the previous year, indicating the company's theaters underperformed the industry by approximately 7.5 percentage points [12] - The upper upscale hotel segment experienced a RevPAR increase of 2.2% during the fourth quarter, indicating the company's hotels outperformed the industry by 1.4 percentage points [18] Company Strategy and Development Direction - The company plans to transition to a calendar fiscal year starting in fiscal 2025 to better align performance comparisons with industry peers [25] - Capital expenditures for fiscal 2025 are expected to be between $70 million and $85 million, focusing on hotel renovations and enhancing customer experience in theaters [22][23] - The company is committed to returning capital to shareholders, having returned $19 million or approximately 18% of cash from operations in fiscal 2024 [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming film slate for 2025 and 2026, anticipating strong attendance growth driven by blockbuster films [35] - The hotel division is expected to see low to mid-single-digit RevPAR growth in 2025, supported by strong group business and improving business travel [43] - Management highlighted the importance of maintaining momentum in attendance through various promotional programs [30] Other Important Information - The company completed significant renovations in its hotel properties, including the Hilton Milwaukee, which is expected to enhance the quality of offerings for meeting and event planners [42] - The company is actively seeking growth investment opportunities in both the theater and hotel divisions [24][44] Q&A Session Summary Question: Thoughts on average ticket price and screen count growth - Management is closely monitoring pricing strategies and emphasizes attendance as a key driver of revenue [49][51] Question: Strategies to enhance per capita spend on concessions - Management believes digital ordering can increase basket size and enhance customer experience [60][63] Question: Impact of Movie Club on attendance and engagement - Management sees potential for the Movie Club to drive steady cash flow and enhance attendance [65][66] Question: Views on market share and capacity - Management believes they have the capacity to grow market share and are focused on executing their business strategy [73][75] Question: Leisure environment and its impact on overall views - Management noted a shift from leisure to more business and group travel, with their assets well-positioned to adapt [78][80]