While 2020 was undeniably a bad year, MGM Resorts managed to just barely beat expectations with their Q4 financial report. Huge declines were bolstered by a few bright points of optimism for the future.

Overall, MGM reported a 53% decline in revenue for the quarter, still seeing the effects of Covid-19 at all of their brick-and-mortar locations. Revenue was down to $1.5 billion, dropping from $3.2 billion for the prior year’s last quarter.

Overall, that resulted in an operating loss of $364 million, down from the income of $3 billion in 2019.

The company noted optimistically at the top of their report that it’s recovery will be led by local casinos, rather than vacation destinations like Las Vegas or Macau. But Bill Hornbuckle, Chief Executive Officer and President, talked up BetMGM as the real excitement driving the company to recovery. “BetMGM gained significant market share throughout 2020 while successfully launching in seven new states. We expect to be in 20 markets by the end of the year, and are very pleased with the January launches in Iowa, Michigan, and Virginia.”