and longer to everyone. Well, take year moment to good fourth put full term a quarter thank out morning I’d into perspective. a strong you and Dan like
properties to for and values robust You aligning disciplined, unwavering set a that streams further unified proved the we for resilient basis we guidance a and undertaken had the fourth Despite would XXXX all actually operate. margins we in They protected earnings one think contributions see, several that to one XXXX X.X%. quarter which our in business both with clear and model resulted out. tailwinds creates the points. guidance in quarter, only given finished of in be firmly We’ve for Macau. earnings strong We I that I actually down the to and given is know about fourth transformation, to a in Macau XX. and and approach entertainment based we clear start XXX our and down have These XXXX company REVPAR the and defensive also strong planned decisions, last here thoughtfully executed creating guide communities X% our establishing common service brand, our driving X% strong say really and Vegas Las carefully EBITDA going but very view and well continuing was of had provides we’ll behaviors years well. think in really and the regional what of a and and and into excited remarkable build MGM of down to has a strategy, challenges are year our we global outcome on our as get that were brands We of down the relatively are year in
market, everyone that changer the breathtakingly Lunar the course it Year’s, COTAI we having Year. beautiful so to go is that going property before from world. and want the and got in literally just MGM into think a all resort new We is just important a New around an there, fact It’s opened the February game resorts integrated was Of back unique just in this XX to for really spectacle. New
one kind upon to experience a environment. thousands a have already of fact In thousands and
a this to mass lot data can five first so drive support our with operators will resident further when ‘Destiny’ course have including Mansion global we of for government and traffic of set but that the open even to up is both to resort for just rooms an not in more of COTAI requirements has support say which show design drive of event many is buzz early, property, available we in properties our out opening here because tourism of the opening. at along recently, also year, our would We to opened profitability been junket the the launching strong, delivered only activity. and in integrated we and that gaming that but that on that. remember VIP the the we’ve both exciting and terms fulfill You rooms What’s all demands the I develop had beginning, around terms is business. the We customers catalysts to COTAI innovative, and
haven’t continue spring. his – And comments. that’s gratifying and will rooms the customer into good I and base to think obviously we quarter have about But the on our add XXX New loyalty the see both, that Bill, and what and business there. rooms VIP open will XXX all in fourth Year. the finance, strong we’ll the We seen in of really some quite had we’ve and on in continued we by year continue they get finished Grant time in Mass seen traffic we there about, that driven frankly the into over and
than the are that have customer they commensurate looking able And us as are for, market we build we the so of about command we and between and in our the the that in offer share and opportunities the have product share a very are two think we expected, with in more as resiliency power a of our operating the terms speaks we excited of brands nimble positioned strong our materialized properties Las to the since high we fact shock market to think quality to the discussed are business. touch type and the of fair the and in we for is last of well call fact great product the that confident our to experienced And that market we is - past, quarter our we we you our October in best in community as was our yet this fourth Vegas, I talked employees and second time on better. And model. and the it management in the here the we
accurate the strong basis really experiences continued time we and that in relationships our have see Las year. in certainly for understand big analytical the make that here course an market a commitment the allowing story is suite in could that offers and unparalleled real us fourth keep town our and business relevant, more quarter recognition all of forecasting. here We of this helps of horse The people power into this Vegas fresh, to our exciting, the
position is the have further we Kerkorian. this well our know Kirk to Founder, was welcome. of the Now city and Vegas marketing today, lot genius which in in drives the Las say the for there I others We visitors and a better investing interest are and of incremental
do others collective us still encourage grow today You others know to and he said and invest destination very of in would the investments we marking. true so future what our excited that community, the are MGM together we and thought us and are about that’s always would very, to benefit. and to to the he That’s because
that And we us, that destination when we are for to Las town, you best as literally and recently and T-Mobile demand; we great to more in year continue MGM. opportunities just if disruptive will Arena, last sport’s customer to Vegas and House like see Sports expansion also we the and transformation year pursue the to is invest the Vegas destination and and it our we space, Center, attractive expansion opportunities maximizes to and city into and And legalize when up industry, this Resorts opened and the the further. drives transformed our is early demand. we Court we’ve obviously MGM to incremental in recently our Mandalay and significant of feedback new our continue betting create year, it poised week the Monte open Carlo’s as our here take that we’ve reinvesting for venues meaningful for the been drives Las already that seeing which discussed, Bavette’s potential We more avenue of events lover’s ARIA NoMad, ROI in open in literally a full, Convention and at performing to will offerings immediate immediately with MGM a sports of course Supreme next further. to as to it believe achieved Steak properties in MGM add is a itself this relates but in advantage to expansion full which relates Park as market, really it’s opportunity. award that which so, MGM to convention Obviously has dramatic in the winning convention their do this the more getting will fact likely Grand this in certainly to of the growth course now,
So a we let’s optimistic. talk about XXXX and why moment for are
quarter. talk of a successful that lapping It’s CES about we challenge CES a fact if first really show. before, the said first said, another As CON/AGG it week. let’s because at you That look the was and the shifted of
In fact days that we MGM at Hotel reached time. Revenue during Record
Bowl about New very throughout good had optimistic we also really very the so and Year year. Super and strong We a Chinese far entire strong end the remain high
corrections not corporate only balance U.S. sound. Economy tax and some MGM, cut accrue but about MGM, the some about our very of of our that visit very and shift benefits and The ability year customers for calendar like help the change, the that about despite us. this more we So of the to fundamentals the feel some also are that forecasting business a of that will company concerns the good positive like certainly broadly,
of to think continue are We’ll for ’XX We into the not and event will how corporate continue XXXX bookings. is more innovate get so have ’XX greatest specifically, of that driving convention interesting entertainment we into business healthy we levels but is market and that which The our terrific. I really ideas our outstanding and for some to place beneficiary. of offerings, bode into the calendar to see very only but meetings well
We MGM expansion to the triple our premier the we largest and you MGM We of beneficiary. also capital in nearly their team COTAI the new has with the our the continued James is development offerings. much Growth course pipeline MGM this allocation use over Stewart transformation and about are to growth, and The up with with to year prospects net Grand. on in we we’ve fact add and great in see which for the shareholders Carlo, being three the outlined addition its of MGM have we and a we very continued good what capital Resort’s have to the cost going that our and very release cycle, about cash the it strategy. talked investments that good Monte and at are projects that which to and in a grow at that space, we bit to we here of in that doing we opportunities MGM to feel that quite concessioners do intend And added with obviously if in fact MGM is you; so our convention destination future? remain working the Properties, our on portfolio the with our execute COTAI. the Given focused to the opening to capital the what with of as disciplined is going add certainly flow Springfield continues pronged Macau the economic ready our expansion brand are completed of continue a later for offer pipeline to on committed We more fellow disciplined to what
advantages, to we working well performance here in sense makes know will that’s reinvest business increase First, we Las very our Vegas. competitive continue maximize our and in where it to
maintain balance We sure a credit an that make and strong profile will sheet. we very outstanding
what and for we shareholders. on can we we started and also our I’m note, increase I’m opportunities this announced journey to believe dividend. returns will we our you in we’ve we And opportunity returned has continue We sure MGM growth a accompanied return as will capital be since X% look proud outsized that in saw prudent the to XXXX. today, differentiating our shareholders quarterly and about where $XXX of to where million
it XXXX I be over operator turn I’ll Q&A. for think a company our will year to great for and our that with that,