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MGM Resorts International Message Board

  • mikerogo444 mikerogo444 Jan 16, 2013 3:02 PM Flag

    MGM losing $2 million per day

    Nothing will reverse that other than debt reduction thru default. Adding a few new casinos and hoping to fill rooms on the strip isn't turning that DAILY loss into a gain. Period. MGM corporate is just TOTALLY out of touch with the daily losses.

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    • Try using a calculator, you are way off! 2M per day would be 730M a year. NOW THE FACTS BELOW:

      last 4 Qtrs were losses of .21, .09. .12 and .23 for a total of .65 times 490M shares outstanding. That is a loss of 318M They just did the refi that now saves them over 230M! Plus they spent 100M on the MD project that they don't have anymore.. MGM is now profitable and 2013 is set to be the best year ever! 2013 Conventions are set at the highest level in more then a decade....

      It's just math. Plus you have to add in what is going on with China and future plans that MGM has in the works.

      Sentiment: Strong Buy

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