MGM Resorts International Addresses Financial Impact Of COVID-19 And Steps To Mitigate COVID-19 Impact

Las Vegas March 27, 2020 / Prnewswire = Kyodo News As a result, we reported on the effects of COVID-19 microorganisms in business and measures to minimize financial results. "Bill Hornbakuru, the general manager and president of MGM Resorts, said," I will take all the MGM resorts to reduce the impact of facilities in the United States due to Cobid-19 infections. "The highest probability. So, despite the fact that this will definitely have a big bad impact on our business, in consideration of our powerful fluidity and expensive asset portfolio, we have all opportunities to get out of today's recession. In fact, we are convinced that the execution of the planned MGM 2020 and the bold cost reduction initiative will be able to overcome this unprecedented event. In real time, it will be a very difficult conclusion, but in the long term, Hornbakl has been a video message to the employee. Website www.Updated business informationSince March 16, 2020, all domestic facilities have been visited, increasing the number of large business trips. This is an unprecedented retreat in the social medical field, and the company may limit the consequences of fashion to protect the welfare and protection of residents of their employees, guests, and the company. I think it is necessary to arrange everything with. The company will cooperate with district health authorities to speed up the process of stopping Pandemia COVID-19.

• For the first two months in 2020, the consolidated no n-distributed income belonged to the MGM Resorts reached $ 1. 3 billion, which sacrificed the ta x-donated amount of $ 1. 5 billion in the real estate trading MGM Grand/ Mandalay. It is important to increase about $ 27 million in the first two months of 2019;
• Updated business information
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• {space}. Las Vegas March 27, 2020 / Prnewswire = Kyodo News As a result, we reported on the effects of COVID-19 microorganisms in business and measures to minimize financial results. "Bill Hornbakuru, the general manager and president of MGM Resorts, said," I will take all the MGM resorts to reduce the impact of facilities in the United States due to Cobid-19 infections. "The highest probability. So, despite the fact that this will definitely have a big bad impact on our business, in consideration of our powerful fluidity and expensive asset portfolio, we have all opportunities to get out of today's recession. In fact, we are convinced that the execution of the planned MGM 2020 and the bold cost reduction initiative will be able to overcome this unprecedented event. In real time, it will be a very difficult conclusion, but in the long term, Hornbakl has been a video message to the employee. Website www.

Updated business information

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After adjusting the regional business, EBITDAR indicators increased 42 % from the same period of the previous year, except for the Empire City and MGM North Field Park, and 26 % per store.

The company had a significant business loss in March, and it is unlikely that the history of the pandemic period, the seriousness, and the time when the company's guest facilities can be resumed, will not be expected to make significant improvements.

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Efforts to reduce costs and Valutet

The company has made an management conclusion on a significant cost reduction to protect the economic state. According to the company, 60-70 % of internal real estat e-level operating costs are regarded as variable costs, for example, to minimize these costs, for example, hiring, dismissal, and other employment reductions. We are doing strict tests. The company is currently actively analyzing its inseparable operating costs, such as real estate costs and corporate costs, and finds skills to reduce costs. Apart from this, the company plans to consider all serious spending plans and not set at least 33 % of the heavy costs in the domestic market planned in 2020.

Balance sheet update

After adjustment, EBITDAR (1) RESORT LAS Vegas Stip increased 24 % compared to the two months of the previous year, or 27 % on a single store basis except Circus Circus Las Vegas.

After adjusting the regional business, EBITDAR indicators increased 42 % from the same period of the previous year, except for the Empire City and MGM North Field Park, and 26 % per store.

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The company has made an management conclusion on a significant cost reduction to protect the economic state. According to the company, 60-70 % of internal real estat e-level operating costs are regarded as variable costs, for example, to minimize these costs, for example, hiring, dismissal, and other employment reductions. We are doing strict tests. The company is currently actively analyzing its inseparable operating costs, such as real estate costs and corporate costs, and has found skills to reduce costs. Apart from this, the company plans to consider all serious spending plans and not set at least 33 % of the heavy costs in the domestic market planned in 2020.

Balance sheet update

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After adjustment, EBITDAR (1) RESORT LAS Vegas Stip increased 24 % compared to the two months of the previous year, or 27 % on a single store basis except Circus Circus Las Vegas.

{space}.

After adjusting the regional business, EBITDAR indicators increased 42 % from the same period of the previous year, except for the Empire City and MGM North Field Park, and 26 % per store.