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VOL. 133 | NO. 38 | Wednesday, February 21, 2018

MGM Misses Q4 Profit Forecasts

The Associated Press

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LAS VEGAS (AP) – MGM Resorts International on Tuesday reported fourth-quarter net income of $1.4 billion.

The Las Vegas-based company, whose holdings include Gold Strike Casino Resort in Tunica, said it had a profit of $2.42 per share. Earnings, adjusted for pretax gains, were less than 1 cent on a per-share basis.

The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The casino and resort operator posted revenue of $2.6 billion in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.5 billion.

MGM shares have climbed 3 percent since the beginning of the year. The stock has climbed 30 percent in the last 12 months.

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This story was generated by Automated Insights (automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGM at www.zacks.com/ap/MGM

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 59 232 11,757
MORTGAGES 80 254 13,681
FORECLOSURE NOTICES 0 19 1,877
BUILDING PERMITS 93 480 24,644
BANKRUPTCIES 61 179 7,652
BUSINESS LICENSES 41 100 4,007
UTILITY CONNECTIONS 34 118 4,799
MARRIAGE LICENSES 10 48 2,592

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