Americas Gaming: Indiana and Michigan GGR in April

April GGR showed a rebound in Indiana and Michigan, growing +5% and +8% y/y respectively. MGM regional performance is accelerating 2QTD while CZR remains slightly negative.

Key Takeaways

• 1.April GGR results for Indiana (+5% y/y) and Michigan (+8% y/y) indicate a trend improvement after a decelerated March.
• 2.MGM regional property performance is tracking positively at +9% y/y 2QTD, led by significant growth at MGM Grand Detroit.
• 3.CZR regional GGR is tracking slightly down at -1% y/y 2QTD, though individual property performance in Indiana varies.

Table of Contents

• Bottom Line
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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