Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why MGM Resorts Is Tumbling 10% Today

TheMotleyFool

0 0

MGM Resorts (NYSE: MGM) fell 10% on Friday after reporting earnings yesterday that showed the casino operator swung to a $0.45-per-share adjusted loss in the first quarter, compared to a $0.14-per-share profit a year ago.

The coronavirus pandemic hit casinos hard, but as a global operator, MGM's casinos were also hurt by shutdowns worldwide as well as the decline of air travel and bookings at hotels. Revenue for MGM tumbled by nearly $1 billion, falling to $2.25 billion from $3.18 billion a year ago.

Image source: Getty Images.

Source Fool.com

Like: 0

MGM

Share