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MGM Resorts Narrows 4Q Loss

MGM Resorts International says it narrowed its loss for the fourth quarter, though the company saw casino revenue and room revenue decline.

The casino operator, in which billionaire Kirk Kerkorian is a major investor, said it had a loss of $139 million, or 29 cents a share, during the quarter, compared with $433.9 million, or 98 cents a share, a year earlier when results were weighed down by a charge.

Excluding one-time items, MGM Resorts says it lost 20 cents per share.

The

Las Vegas company says revenue was $1.47 billion, up from $1.45 billion.

Analysts polled by FactSet expected MGM Resorts to lose 21 cents per share on $1.49 billion in revenue.

 

(Copyright 2011 The Associated Press)

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