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Best of Chris Sieroty

Gaming Guru

Chris Sieroty
 

MGM Resorts expected to report fourth quarter loss

27 January 2011

LAS VEGAS, Nevada -- MGM Resorts International is expected to report a loss for the fourth quarter and fiscal year 2010, according to analysts surveyed by Yahoo Finance.

The analysts expect Las Vegas Sands Corp. to report earnings of 38 cents per share for the fourth quarter and earnings of 98 cents per share for the year.

MGM Resorts announced Wednesday it would release the company's fourth-quarter and full year 2010 results before the market opens on Feb. 14. Las Vegas Sands, meanwhile, has scheduled a conference call to discuss its financial results on Feb. 3 after the market closes.

Both companies are listed on the New York Stock Exchange.

Analysts expects MGM Resorts to report a loss of 22 cents a share for the fourth quarter on projected revenue of $1.49 billion. For the year ended Dec. 31, estimates were for a loss of $1.09 a share on revenues of $6.03 billion.

Analysts expect Las Vegas Sands to report revenues of $2.06 billion for the fourth quarter and revenues of $6.89 billion for the year.

As of Tuesday, Wynn Resorts Ltd. had not announced a date for the release of its fourth quarter and full year 2010 earnings.
MGM Resorts expected to report fourth quarter loss is republished from Online.CasinoCity.com.