MGM's net revenue increased by more than a third in the latest quarter amid a rebound in leisure travel and the company's acquisition of Cosmopolitan of Las Vegas. Net income rose tenfold in the first quarter of 2023 after the company purchased Barstool Sports and recorded a $500 million gain from reclassified lease components. It operates both gaming properties nationwide and online sports betting services.
Light & Wonder's quarterly earnings shrunk in the most recent quarter following the company's divestiture of its lottery and sports betting business.
The company recently repaid $4.8 billion in debt, reducing its total outstanding debt by 55%. Light & Wonder Inc.: Light & Wonder, formerly known as Scientific Games Corporation, designs gaming content for casinos and related businesses.