MGM Posts Steep Q4 Loss

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MGM Resorts International has reported its Q4 and 2012 results, and the numbers aren't pretty. For the quarter, consolidated net revenue amounted to $2.3 billion, essentially matching the level of the same period the previous year. Net loss, however, deepened considerably to $1.2 billion ($2.50 per share), more than 10 times Q4 2011's $114 million.

Although the revenue figure met analyst expectations, the net loss was quite a bit steeper than the $0.22 they were anticipating.

The company attributed the large loss to a set of significant, one-time charges.


For the full year, MGM enjoyed a revenue increase of 17% on an annual basis to $9.2 billion; however, the bottom line plunged into the red at $1.8 billion ($3.62 per share). The 2011 figure was a profit of $3.1 billion ($6.37 EPS).

The article MGM Posts Steep Q4 Loss originally appeared on Fool.com.

Fool contributor Eric Volkman and The Motley Fool have no position in MGM Resorts International. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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