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MGM Resorts shares dip as $1.5bn write-down in China hits bottom line

19th February 2016 9:06 am GMT
MGM Resorts

Casino operator MGM Resorts International has seen its 2015 net loss widen to $447.7m, with results negatively impacted by a $1.5bn write-down related to its MGM China business during the fourth quarter.

Total net revenue for the year fell 9 per cent to $9.19bn, following a 33 per cent drop in MGM China revenue to $2.21bn.

Revenue from the company’s wholly owned domestic resorts rose 2 per cent to $6.50bn, with the Bellagio and MGM Grand Las [...]

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