MGM Resorts Q4 Loss/shr Shrinks - Quick Facts

(RTTNews) - Casino operator MGM Resorts International (MGM) posted a net loss attributable to the company of $38.34 million, or $0.08 per share in the fourth quarter 2013, after taking into account a $79.2 million net loss attributable to noncontrolling interests. This compares to a loss of $1.22 billion, or $2.50 per share in the year-ago quarter, mainly reflecting impairment charges.

On average, 22 analysts polled by Thomson Reuters expected loss per share of $0.01 for the quarter. Analysts' estimates typically exclude one-time items.

For the quarter, the company, however, recorded a net income of $40.88 million before noncontrolling interests, as against last year's loss of $1.19 billion.

Las Vegas, Nevada-based firm clocked net revenue of $2.51 billion, a 10% increase from the prior-year figure of $2.29 billion, and topped analysts' estimate of $2.46 billion for the quarter. Quarterly consolidated casino revenue went up 13% year-over-year.

On February 19, 2014, MGM China's board said it would recommend a final dividend for 2013 of $128 million to MGM China shareholders. In addition, MGM China's board announced a special dividend of $500 million, which would be paid to shareholders of record as of March 10, 2014 and distributed on or about March 17, 2014.