July 30 (Reuters) - Casino operator MGM Resorts
International ( MGM ) on Wednesday reported a rise in
second-quarter revenue, driven by strong performance in its
online sports-betting operations as well as its China unit.
The company's China unit reported a 9% revenue growth at
$1.11 billion as its casinos in the region generated more
revenue from participations in main floor and VIP table games.
Revenue from its regional operations segment, which
encompasses casinos in U.S. markets outside Las Vegas, also rose
4% to $964.6 million.
Its digital unit, which offers online gaming product
offerings such as iGaming, as well as digital slots, table
games, live dealer and online sports betting, recorded a 14%
revenue growth to $163.9 million.
There has been a surge in demand for online gambling,
especially in sports betting, in the last few years, benefiting
companies such as MGM Resorts ( MGM ) and Caesars Entertainment ( CZR ).
Caesars had posted a narrower loss on Tuesday, while BetMGM,
MGM's sports-betting joint venture Entain ( GMVHF ), had also
raised its annual forecast due to strong demand in online sports
betting and its iGaming division.
However, MGM Digital's adjusted operating loss widened,
and weighed on the company's overall earnings.
MGM Resorts' ( MGM ) adjusted per-share profit for the
second-quarter came in at 79 cents, compared to 86 cents, a year
earlier.
Total revenue rose 1.8% to $4.40 billion for the quarter
ended June 30, from $4.33 billion a year earlier.