MGM Resorts Slumps After Surprise Loss on Macau Business Expense
The MGM Cotai casino resort in Macau, China.
Photographer: Billy H.C. Kwok/BloombergThis article is for subscribers only.
MGM Resorts International fell in late trading after reporting a surprise loss that included a $1.2 billion expense for its Macau properties.
The largest casino operator on the Las Vegas Strip reported an adjusted third-quarter loss of $1.39 a share on Wednesday. Analysts had been expecting a profit of 24 cents. Revenue in the period reached $3.41 billion, higher than the $3.25 billion analysts estimated.