WASHINGTON (dpa-AFX) - MGM Resorts International (MGM) on Wednesday reported a narrower loss for the third quarter. At the same time, revenue dropped, reflecting weaker results at its Las Vegas Strip and regional properties that offset growth at MGM China and its digital operations.
Net loss attributable to MGM Resorts narrowed to $17.1 million or $0.07 per share from $285.3 million or $1.05 per share a year earlier. Adjusted earnings per share were a loss of $0.11, compared with earnings of $0.24 in the prior-year quarter.
Revenue decreased 1% to $4.21 billion from $4.25 billion.
Revenue at Las Vegas Strip Resorts fell 2% to $1.95 billion, while Segment Adjusted EBITDAR dropped 12% to $531 million, reflecting lower room rates. Regional Operations revenue declined 8% to $883 million, although same-store revenue increased 1%.
MGM China delivered a stronger performance, with revenue rising 5% to $1.14 billion and quarterly market share reaching a record 17.1%. Segment Adjusted EBITDAR fell 7% to $264 million. MGM Digital revenue increased 6% to $184 million, while its Segment Adjusted EBITDAR loss narrowed to $4 million from $23 million.
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