Macau saw a slight loss
MGM Resorts International’s sole casino in the Chinese gaming mecca of Macau has helped to keep the company stable in recent quarterly reporting periods.
But encouraging numbers from 10 Strip developments has reversed that equation, according to the Atlantic City Press. MGM Resorts reversed a second-quarter net loss for the quarter that ended June 30, the company reported.
The casino giant said its net income for the quarter was $105.5 million, or 21 cents a share. A year ago, the company lost $92.9 million, or 19 cents a share. MGM’s net revenue grew 4 percent to $2.6 billion. And revenue at the company’s Strip resorts grew 7.7 percent to $1.345 billion.
Meanwhile, MGM Macau experienced a revenue decline of 0.9 percent to $827.9 million, due in part to a drop in high-roller gambling.
MGM’s Strip holdings include Bellagio, MGM Grand, The Mirage, Mandalay Bay and the CityCenter complex.
