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MGM Resorts Expects Reduced Q3 RevPAROctober 13, 2010 By: Staff
MGM Resorts International released its expectations of financial results for the third quarter 2010, announcing that revenue per available room for Las Vegas Strip properties has dropped 2 percent since Q3 2009. The Bellagio and Mandalay Bay, however, both enjoyed increases in RevPAR over the same period.
MGM Resorts reported occupancy of 93 percent for the quarter in Las Vegas, with an average daily rate of $105. The company expects an operating loss of $206 million for the quarter, due to impairment charges related to the Borgata and new CityCenter development.
Full results for the quarter will be released during the week of November 1.