Options Wonderland

[3xBuBu]

MGM Mirage’s Quarterly Profit Is Down 11%
LAS VEGAS (AP) — MGM Mirage, the hotel and casino company, said its first-quarter profit fell 11 percent as revenue fell short of expectations.
MGM said it earned $105.2 million, or 38 cents a share, down from $118.3 million, or 40 cents a share, a year earlier.

The results include a gain of 44 cents a share from the sale of its Treasure Island hotel and casino in Las Vegas.

Revenue fell 20 percent to $1.66 billion from $2.06 billion, hurt in part by convention cancellations.

MGM, which is based in Las Vegas, released the results after the close of market trading. In after-hours trading, its stock rose 49 cents, or 5 percent, to $9.44 a share.

http://www.nytimes.com/2009/05/05/business/05mgm.html?ref=business