TITLE

Cash infusion boosts earnings for MGM Mirage in fourth quarter

AUTHOR(S)
Stutz, Howard
PUB. DATE
March 2008
SOURCE
Las Vegas Business Press (10712186);3/3/2008, Vol. 25 Issue 9, p21
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the fourth-quarter earnings of Nevada-based MGM Mirage boosted by a $1 billion cash infusion from its joint-venture partner Dubai World in 2007. Half of the CityCenter development of MGM was sold by the casino operator to Dubai World during the quarter ended December 31. As a result of the sale, the net income of MGM has risen to $872.2 million. The gaming revenues of MGM has increased by 2% and its overall quarterly revenues increased by 5.6%.
ACCESSION #
31523180

 

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