MGM Resorts Q2 Loss Reduces - Quick Facts

(RTTNews) - Casino operator MGM Resorts International (MGM) reported a narrower second-quarter net loss attributable to the company of $92.96 million, or $0.19 per share, compared with a loss of $145.45 million, or $0.30 per share, in the prior-year quarter.

The comparability of the current and prior year consolidated results was affected by certain items. The recent quarter and the year-ago quarter results were affected by non-cash impairment charges of $37 million and $85 million, respectively, related to the company's joint venture investment in Grand Victoria. Further, the firm recorded an impairment charge of $45 million in the latest quarter related to corporate buildings that are expected to be removed from service.

Revenues amounted to $2.48 billion in the period, compared with $2.32 billion a year earlier. Consolidated casino revenue increased 11% during the second quarter of 2013.