By Anastasia Tomazhenkova: The world's second-largest casino operator, MGM Mirage Inc., posted that its quarterly profit rose, helped by a gain from a contribution that the CityCenter project made to a joint venture of MGM and Dubai World.
MGM, which operates resorts including the Bellagio, Mandalay Bay and Circus Circus in Las Vegas, had fourth-quarter net income of 872 million dollars, or 2.85 dollars a share, compared with 201.6 million dollars, or 69 cents a share, in the year-earlier period
Analysts polled by Thomson Financial expected net income of 55 cents a share on revenue of 1.92 billion dollars.
Revenue for the three months ended December 31 rose to 2.11 billion dollars from 2.02 billion dollars a year earlier. Wall Street's consensus was for revenue of 1.92 billion dollars.
Shares of the Las Vegas-based casino resorts operator closed Wednesday at 64.59 dollars.
MGM Mirage says its fourth-quarter profit soared, primarily on a hefty gain related to its CityCenter project.
MGM says quarterly revenue rose 4%.
Shares rose 1.67 dollar, or 2.6%, to 66.26 dollars at the open of trading.
Russia, when signing documents for the sale of Alaska to the United States, was realizing her objective benefit
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War