MGM Resorts Q4 Loss Widens - Quick Facts

(RTTNews) - Casino operator MGM Resorts International (MGM) said fourth-quarter attributable loss widened to $342.26 million from $56.81 million in the previous year.

Loss per share widened to $­­­0.70 from $0.12 in the prior-year fourth quarter. The company's income tax provision per share was $0.67 for the quarter. On average, 18 analysts polled by Thomson Reuters expected earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues dropped to $2.582 billion from $2.706 billion in the prior year. After promotional allowances, it was $2.386 billion, compared to $2.513 billion last year. Analysts expected revenues of $2.41 billion.

MGM China's Board of Directors announced a final dividend for 2014 of $120 million to MGM China shareholders. If approved, MGM Resorts International will receive $61 million, its 51 percent share of this dividend.

In addition, MGM China's Board of Directors announced a special dividend of $400 million, which will be paid to shareholders of record as of March 10, and distributed on or about March 19. MGM Resorts International will receive $204 million, its 51 percent share of the special dividend.