MGM Resorts International (MGM)

[MCArmel1]

MGM Resorts EPS of -$0.70

Feb 17 2015, 08:08 ET | About: MGM Resorts International (MGM) | By: Mamta Mayani, SA News Editor

MGM Resorts (NYSE:MGM): Q4 EPS of -$0.70 may not be comparable to consensus of $0.06.
Revenue of $2.39B (-4.8% Y/Y) misses by $20M.
Shares +0.19% PM.
Press Release

http://seekingalpha.com/news/2301046-mgm-resorts-eps-of-0_70?auth_param=ano5b:1ae6fc7:ed158b74430baf6e9de3f963050347fa&uprof=45#email_link


MGM Resorts International Reports Fourth Quarter And Full Year Financial Results
Tue February 17, 2015 8:00 AM|PR Newswire | About: MGM

LAS VEGAS, Feb. 17, 2015 /PRNewswire/ -- MGM Resorts International (NYSE: MGM (MGM)) today reported financial results for the quarter and year ended December 31, 2014.

"MGM Resorts International reported its best fourth quarter EBITDA since the peak in 2007 and its best full year in six years at its wholly owned domestic resorts. For the full year, CityCenter resort operations and MGM China each achieved record performances," said Jim Murren, Chairman & CEO of MGM Resorts International. "When I reflect on this year, I am extremely proud of the accomplishments of the MGM Resorts International team and believe that 2015 will be another great year. In fact, we are already off to a good start with strong January results in the U.S."

Key results for the fourth quarter of 2014 include the following:
•Net revenue at the Company's wholly owned domestic resorts increased 5% compared to the prior year quarter;
•Rooms revenue at wholly owned domestic resorts increased 6% compared to the prior year quarter;
•The Company's wholly owned domestic resorts earned Adjusted Property EBITDA(1) of $373 million, a 5% increase compared to the prior year quarter;
•MGM China's net revenue was $719 million and Adjusted EBITDA was $185 million, each a 22% decrease compared to the prior year quarter; and
•CityCenter earned Adjusted EBITDA related to resort operations of $78 million, a 16% decrease compared to the prior year quarter, due primarily to a decrease in table games hold percentage at Aria.

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http://seekingalpha.com/pr/12532526-mgm-resorts-international-reports-fourth-quarter-and-full-year-financial-results