Mgm Resorts International (MGM) has reported 209.66 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $206.85 million, or $0.36 a share in the quarter, compared with $66.80 million, or $0.12 a share for the same period last year.

Revenue during the quarter grew 22.56 percent to $2,708.18 million from $2,209.69 million in the previous year period. Gross margin for the quarter expanded 167 basis points over the previous year period to 91.69 percent. Total expenses were 81.64 percent of quarterly revenues, down from 85.70 percent for the same period last year. This has led to an improvement of 406 basis points in operating margin to 18.36 percent.

Operating income for the quarter was $497.18 million, compared with $315.95 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $763.71 million compared with $542.88 million in the prior year period. At the same time, adjusted EBITDA margin improved 363 basis points in the quarter to 28.20 percent from 24.57 percent in the last year period.

“MGM Resorts had a strong start to the year, as evidenced by our first quarter diluted earnings per share which tripled last year’s results, double digit same-store Adjusted Property EBITDA growth at our domestic resorts, record results at CityCenter and solid performance at MGM China. MGM National Harbor and Borgata, our newest additions on the East Coast, are leading their respective markets, and we continue to work toward expanding our footprint in Macau with the opening of MGM Cotai later this year," said Jim Murren, chairman & chief executive officer of MGM Resorts. "Every year, we take steps to further this Company as an innovative market leader positioned for operational strength, financial flexibility, and prudent growth. We remain focused on building upon this effort as we continue to execute on our strategies to profitably grow our Company and return value to our shareholders."