MGM’s Q1 loss balloons to US$217.3 mil. on back of increases in costs, one-time charges


AP

LAS VEGAS — MGM Resorts International said Thursday its first quarter loss ballooned as higher costs and some one-time charges overshadowed a huge jump in sales. MGM shares dropped nearly 4 percent in morning trading.

The Las Vegas casino and hotel operator lost US$217.3 million, or 44 cents per share, in the January-March quarter, compared with a loss of US$89.9 million, or 18 cents per share, a year earlier.