(Reuters) -Casino operator MGM Resorts (NYSE: MGM ) International on Wednesday beat Wall Street’s estimates for first-quarter profit, driven by strong performance in its online sports-betting unit, and announced a $2 billion share buyback program.

Shares of the Las Vegas, Nevada-based casino operator were up 3.2% in extended trading.

The surge in online gambling, particularly in sports betting, is benefiting companies such as MGM Resorts and Caesars (NASDAQ: CZR ) Entertainment.

Earlier this week, MGM and Entain’s sports-betting joint venture, BetMGM, and peer Caesars reported profits aided by a surge in the online betting market.

MGM Resorts’ quarterly adjusted per-share profit of 69 cents came above Wall Street expectations of 46 cents, according to LSEG compiled data.

However, revenue from MGM China (OTC: MCHVY ), representing the company’s operations in China and Macau, fell 2.7% to $1.03 billion for the quarter, compared to analysts’ estimate of $1.02 billion.

MGM’s total revenue fell 2.4% to $4.28 billion in the first quarter ended March 31, compared with the analysts’ average estimate of $4.30 billion, as per data compiled by LSEG.