MGM Resorts Narrows Loss
MGM Resorts posts a smaller third-quarter loss, even as it continues to be pressured by writedowns.
NEW YORK (
) --
MGM Resorts
(MGM) - Get Report
narrowed its third-quarter loss, providing a shot of optimism regarding the Las Vegas market.
During the quarter, the casino operator lost $318 million, or 72 cents a share, compared with a loss of $750.4 million, or $1.70 a share, in the year prior. Writedowns of its CityCenter and Borgata properties weighed down results by 51 cents
Revenue rose slightly to $1.56 billion.
Analysts were calling for a loss of 23 cents a share on revenue of $1.55 billion.
--Written by Jeanine Poggi in New York.
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