(Reuters) - MGM Resorts (NYSE:MGM) International beat market estimates for third-quarter profit and revenue on Wednesday, as the casino operator benefited from easing pandemic-related entry restrictions in its key markets.
The post-pandemic travel rebound in China and Macau has been a tailwind for casino operators such as MGM Resorts and Las Vegas Sands (NYSE:LVS) Corp.
"MGM China (OTC:MCHVY) is performing exceptionally well," MGM's CEO Bill Hornbuckle said in the statement.
Shares of the company were up 2.6% at $39.61 after the bell.
Last month, MGM had said it expects a $100 million hit to its third-quarter results after a cyberattack disrupted its operations, forcing a shutdown of its systems.
MGM, along with Wynn Resorts (NASDAQ:WYNN), also faces a potential strike after about 35,000 Las Vegas hospitality workers are ready to walk off the job on Nov. 10 if they do not have a labor contract by then.
MGM's total revenue rose about 16% to $3.97 billion in the quarter through September, compared with analysts' average estimate of $3.87 billion, according to LSEG data.
Its per-share adjusted profit of 64 cents in the quarter also beat analysts' expectations of 49 cents.