Las Vegas, NV, USA February 22, 2012 /PRNewswire/ — MGM Resorts International (NYSE: MGM) today reported improved financial results for the fourth quarter ended December 31, 2011. Loss per share was $0.23 compared to a loss of $0.29 per share in the prior year fourth quarter. The current quarter results include MGM China Holdings, Limited (“MGM China”), which the Company began consolidating as of June 3, 2011.
Key results for the fourth quarter of 2011 included the following:
“2011 was a year in which we achieved many goals: operationally, strategically, and financially. Operationally, we enhanced our customer experience through targeted reinvestment in our properties and improved relationships through our M life customer loyalty program. Strategically, we acquired a majority interest in MGM China and began expanding our brand presence in key markets throughout the world, particularly Asia. Financially, our revenues and margins have improved year over year increasing our cash flow and strengthening our financial profile,” said Jim Murren, MGM Resorts International Chairman and CEO. “Going forward we expect to build off of these strategies to grow our company and maximize shareholder value.”
Read the full press release on IPM NewsDocs
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