MGM Falters Following Q4 Miss
MGM reported adjusted earnings of 11 cents per share vs. Wall Street expectations of 17 cents per share.
MGM Resorts Int'l (MGM) - Get Report shares not looking so lucky Thursday morning after reporting fourth quarter earnings of 11 cents per share. That missed Wall Street expectations of 17 cents per share. The casino gaming company did beat analysts' revenue expectations for the period, thanks mainly to the opening of the $1.4 billion National Harbor resort in Oxon Hill, MD and the company's purchase of the Borgata casino in Atlantic City. Separately, MGM also announced that it was initiating a quarterly dividend of 11 cents per share. MGM execs are expected to address all of this on a conference call.
