STAYHotel Dive · 2h ago
MGM Resorts amends deal with People Inc., shares Q3 results
Executive Brief
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MGM Resorts has amended its voting agreement with its largest shareholder, People Inc., immediately preceding the release of third-quarter financial results. The company reported year-over-year declines in both total revenue and adjusted EBITDA for the period.
- 01MGM Resorts modified its existing Voting Agreement with major shareholder People Inc.
- 02Third-quarter financial results show a decrease in total company revenue
- 03Adjusted EBITDA declined during the most recent reporting period
- 04The corporate governance amendment was finalized just hours before the earnings release
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Hours before reporting revenue and adjusted EBITDA declines for the quarter, MGM announced it amended its existing Voting Agreement with its largest shareholder.