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 Stock Is Falling Today

TheMotleyFool

0 0

Shares of MGM Resorts (NYSE: MGM) are falling today, down by 6.5% as of 11:40 a.m. EDT, after the casino operator reported its third-quarter financial results. The company lost $535 million after revenue in all key markets plummeted due to the coronavirus pandemic.

MGM said revenue at its Las Vegas casinos plunged 68% to $481 million while adjusted property earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) almost completely evaporated, coming in at just $15 million. Last year, it recorded $441 million in adjusted property EBITDAR.

Image source: Getty Images.

Source Fool.com

Like: 0

MGM

Share