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MGM Resorts Beats Street With Second Quarter Results

MGM Resorts reported second-quarter results that beat street expectations. The casino and resort operator reported earnings of 21 cents a share on revenue of $2.58 billion. Earnings per share reported by the company were 10 cents higher than Wall Street estimates. MGM's latest report is the second strong quarter for the company after three disappointing quarters in a row. Chairman and CEO of MGM Resorts International, Jim Murren, said that a driving force for profit this quarter was casino and room revenue both grew 6% compared to last year's second quarter. TheStreet's Kathryn Mykelseth reports from New York.