Loss of MGM Resorts International fourth quarter decreased, MGM Vegas helped by lower costs. The casino operator lost $ 38.3 million, or 8 cents per share for the period ended December 31. This compares to a loss of $ 1.22 billion, or $ 2.50 per share, a year earlier. Analysts, whose estimates typically exclude one -time items, predicted a loss of a penny per share. Costs were reduced to MGM Vegas $ 2.2 billion $ 2.72 billion.
Revenue increased 10 percent to $ 2.51 billion $ 2.29 million. Casino revenues increased, as it did for the quarterly revenue, food and beverage and entertainment. Wall Street forecast revenue of $ 2.47 billion. The Board of Directors of MGM China also announced a special dividend of $ 500 million on Wednesday.
MGM Resorts shares lost 20 cents to $ 25.65 in parakeet trading 45 minutes before the market opening. Copyright 2014 The Associated Press. All rights MGM Vegas reserved. This material may not be published, broadcast, rewritten or redistributed.
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