MGM Mirage Reports 17% Increase
MGM Mirage has reported a 17 percent increase in profit, based on the strong performance of its Las Vegas Strip properties and the Beau Rivage resort in Mississippi during the first quarter, but results failed to meet analyst expectations.
MGM’s earnings were up 55 cents per share to $163 million, compared to 48 cents per share, or $139.9 million, during the same quarter last year.
Analysts polled by Thomson Financial had apparently forecast earnings of 63 cents per share. Following the announcement, shares of MGM mirage fell 2.3 percent, or $1.57, to $66.75 during morning trading.