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MGM Mirage Anticipates Good Q3 and Q419 September 2002LAS VEGAS – As reported by the Dow Jones: "MGM Mirage Chief Financial Officer Jim Murren backed analysts' earnings estimates for the year, saying the third and fourth quarters both look good. "Murren said that the conference business and group bookings in the second half have been going strong at the company. The company should have easier comparisons with the results of last year, which were hurt by the events of Sept. 11, he said. "…According to Thomson First Call, the company is expected to earn $2.03 a share in 2002 compared with $1.37 a year ago. "Murren said that upcoming acts at MGM properties, such as the Rolling Stones and Paul McCartney, will also be a boon to business in the second half. The properties will also feature tournaments around high-end card games such as baccarat, he said. "…`We had none of that last year,' Murren said of the events hosted by the company's properties. `We have high expectations for the fourth quarter. We should even beat the fourth-quarter results of the year 2000.' "The Detroit market has also continued to drive results for the company. MGM Mirage has plans to open a permanent casino in Detroit by 2006…" |