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MGM Resorts Narrows Losses

LAS VEGAS (AP) — MGM Resorts says its third-quarter loss narrowed as gambling revenue improved and it paid less interest on debt.

For the period ended Sept. 30, MGM Resorts lost $31.9 million, or 7 cents per share. A year earlier it lost $181.2 million, or 37 cents per share.

Revenue is up 9 percent to $2.46 billion. Casino revenue climbed 13 percent. Sales also rose from booking hotel rooms and selling food and drinks, as well as entertainment and retail. Revenue rose 22 percent to $808 million for MGM China.

Shares of Las Vegas-based MGM Resorts International are down 3.4 percent to $19.60 in Thursday premarket trading.

 

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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