Friday, April 16, 2010

MGM MIRAGE Reports Preliminary First Quarter Results

The Company expects to report its full results for the quarter, and conduct a conference call to discuss its earnings, during the week of May 3, 2010. 

Adjusted Property EBITDA(2) attributable to wholly-owned operations is expected to be approximately $267 million in the 2010 quarter, down 19% excluding insurance recoveries related to the Monte Carlo fire in the prior year.

Las Vegas Strip REVPAR(1) decreased by 8% to $94 for the first quarter of 2010 compared to $103 in the first quarter of 2009, with occupancy of 85% and an average daily rate of $111 in the 2010 first quarter.

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