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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 This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 67 19,513
MORTGAGES 68 68 22,501
FORECLOSURE NOTICES 0 0 2,922
BUILDING PERMITS 201 201 40,205
BANKRUPTCIES 62 62 12,548
BUSINESS LICENSES 17 17 6,391
UTILITY CONNECTIONS 50 50 7,445
MARRIAGE LICENSES 23 23 4,476