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| MGM Mirage Reports Record Third Quarter Results MGM Mirage based in Las Vegas reported its third quarter 2005 financial results. Adjusted earnings increased to a third quarter record of $0.38 in 2005, an increase of 36% over the previous third quarter record of $0.28 earned in the 2004 quarter. The strong earnings were driven by the accretive acquisition of the Mandalay Resort Group properties, as well as continued strength in core hotel and gaming operations. Current quarter results were negatively impacted by the closure of Beau Rivage following Hurricane Katrina as well as the impact of Hurricane Dennis in July. MGM Mirage owns and operates 24 properties located in Nevada, Mississippi and Michigan, and has investments in four other properties in Nevada, New Jersey, Illinois and the United Kingdom. MGM MIRAGE has also announced plans to develop Project CityCenter, a multi-billion dollar mixed- use urban development project in the heart of Las Vegas and has a 50% interest in the MGM Grand Macau, a development project in Macau S.A.R. write your comments about the article :: © 2005 Construction News :: home page |