Advan Notable Hits: MGM Resorts International (MGM)

November 4, 2022 By Valantis Aristeidous Tags: FINANCIAL-TRENDS, ADVAN HITS

Notable Hit: (MGM:NYSE) On Wednesday November 2, 2022 MGM Resorts International (MGM) posted revenues of $3.42bn surpassing the consensus estimate by +5% and in the same direction as Advan's forecasted sales. The revenue increased 26% YoY and in line with Advan's foot traffic data increase of 8% YoY at its resorts for Q3 2022. Advan's footfall data has a correlation of 0.99 on a YoY basis with MGM's top-line revenue over the last 15 quarters.

Advan Hits: MGM correlation traffic vs revenue

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About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.