MGM Resorts misses quarterly estimates on sluggish Las Vegas business
Oct 30 (Reuters) -MGM Resorts International MGM.N missed market expectations for third-quarter profit and revenue on Wednesday, hurt by weak sales in its Las Vegas casino business, sending its shares down more than 5% in extended trading.
Quarterly revenue from its Las Vegas casino operations fell 13% to $476million, while winnings from table games in the business came in at $328 million, down 19% from a year ago.
The company's total revenue for the quarter of $4.18 billion came in below analysts' average estimate of $4.21 billion, as per LSEG-compiled data.
MGM posted adjusted quarterly earnings per share of 54 cents, compared with analysts' estimates of 61 cents, according to data compiled by LSEG.
Reporting by Anshuman Tripathy and Aishwarya Jain in Bengaluru; Editing by Maju Samuel
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