Why MGM Resorts Is Tumbling 10% Today

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. 

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Source Fool.com