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Casino Gambling: MGM Resorts International Reports Best Quarter Since 2008

Company On The Uptick After Five Years Of Stagnation

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MGM Resorts International reported financial results Thursday for the quarter ending March 31, 2013, and the numbers were the best it has had since the Great Recession.

“Our first quarter 2013 results are the best we have reported since the beginning of the downturn five years ago, led by improved results at our Las Vegas Strip resorts, a record first quarter at MGM China and an all-time record at CityCenter,” Jim Murren, MGM Resorts International Chairman and CEO said in a statment. “MGM Resorts International returned to profitability in the quarter and we are excited about our future.”

Overall revenues have reached $2.35 billion.

MGM is the second largest casino developer in the world, in terms of revenue.

It operates more than a dozen properties scattered throughout the United States, but is perhaps best know for its Las Vegas Strip properties like Bellagio and Aria. MGM also has casino interests in Macau, which is the top gambling market in the world.

MGM, through a partnership with Bwin.Party Digital Entertainment, looks to be involved with a future Nevada online gambling market, one that would expand once the governor brokers deals with other jurisdictions.

While MGM is recovering, the rest of Nevada is as well. Gaming revenues are up statewide.

For more news from Nevada, check out its state page.

 
 
Tags: MGM,   Nevada,   Poker Business