20 January 2019

MGM Resorts rides Macau demand, WSJ says

Casino operator MGM Resorts International posted improved fourth-quarter revenue as it continued to benefit from stronger demand in Macau, the Wall Street Journal reported Wednesday. The performance, which marked continuing revenue momentum for more than three years, was helped by increased traffic at its Las Vegas hotels and casinos. MGM Resorts reported a loss of US$38.3 million compared with a year-earlier loss of US$1.22 billion, the report said. Revenue rose 9.5 percent to US$2.51 billion. MGM owns about a dozen casinos on the Las Vegas Strip and a few elsewhere in the United States. At its wholly owned domestic resorts, revenue rose 1.2 percent to US$1.48 billion, the report said.

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