MGM Resorts misses quarterly estimates on sluggish Las Vegas business

(Reuters) - MGM Resorts (NYSE:MGM ) International 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 $476 million, 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.

Source: Investing.com