MGM Mirage 3rd-Quarter Profit Rises, Wynn Resorts Reports Third Quarter Results

31.10.2007, Lesen Sie hier den Bericht über «MGM Mirage 3rd-Quarter Profit Rises, Wynn Resorts Reports Third Quarter Results».

LAS VEGAS - MGM Mirage, the world's second-largest casino company, said Tuesday its third-quarter profit climbed 18 percent on revenue growth in non-gaming operations and income from Hurricane Katrina insurance recoveries. Earnings rose to $183.9 million, or 62 cents per share, compared with $156.3 million, or 54 cents per share, in the prior-year period. Analysts polled by Thomson Financial expected net income of 50 cents per share. The company received an additional $92 million of insurance recoveries related to Hurricane Katrina during the quarter. Quarterly revenue rose 6 percent to $1.9 billion from $1.8 billion in the previous year. Consensus estimates put sales at $1.91 billion. MGM said it experienced increased non-gaming revenue from its restaurants, nightclubs and shows, while room rates remained strong. MGM raised the budget for its Macau project to $1.25 billion from $1.1 billion and boosted its CityCenter budget to $7.8 billion from $7.4 billion.

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Wynn Resorts, Limited Reports Third Quarter Results Wynn Las Vegas Adjusted Property EBITDA of $93.2 million Wynn Macau Adjusted Property EBITDA of $92.8 million LAS VEGAS--(BUSINESS WIRE)--Oct. 30, 2007--Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the quarter ended September 30, 2007. More….

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