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sabato 1 novembre 2014

MGM Resorts reduces third-quarter net loss

LAS VEGAS -- MGM Resorts International narrowed its third-quarter net loss, but said the company’s results on the Strip were somewhat tempered by construction activity related to its various renovation projects.

MGM’s Strip properties as a whole suffered from a lower year-over-year table games hold on wagers.

“We made some customers very happy in the quarter,” MGM Resorts Chairman and CEO Jim Murren said on a conference call with analysts and investors.

The casino operator, which owns 10 Strip hotel-casinos and the CityCenter development, said Thursday its net loss of $20.3 million for the quarter that ended Sept. 30 was an improvement over the company’s net loss of $22.3 million a year ago. MGM Resorts lost 4 cents per share in the quarter, compared to a loss of 5 cents per share in 2013.

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