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a****g
发帖数: 8131 | 1 hard to interpret
but happy to hold | y*****l
发帖数: 5997 | 2 你牛，运气真好，呵呵。
【在 a****g 的大作中提到】
: hard to interpret
: but happy to hold
| a****g
发帖数: 8131 | 3 纯属运气
【在 y*****l 的大作中提到】
: 你牛，运气真好，呵呵。
| b**t
发帖数: 656 | 4 re
沾点儿运气....
【在 a****g 的大作中提到】
: 纯属运气
| D****9
发帖数: 10889 | 5 what failed?
【在 a****g 的大作中提到】
: hard to interpret
: but happy to hold
| a****g
发帖数: 8131 | 6 er
【在 D****9 的大作中提到】
: what failed?
| y*****l
发帖数: 5997 | 7 ER beat的跌停，ER miss的涨停。
我也沾点你的运气。
UPDATE: MGM Resorts Narrows 3Q Loss, CEO Says Bottom Is Here
Wednesday 11/03/2010 3:08 PM ET - Dow Jones News
Related Companies
Symbol Last %Chg
MGM 12.31 10.40%
As of 4:00 PM ET 11/3/10
(Updates with additional CEO comments; adds details, background)
By A.D. Pruitt
DOW JONES NEWSWIRES
As MGM Resorts International (MGM) continues to see a profit drain related
to a weak tourism and business environment in Las Vegas, the company's chief
executive says declines in gaming in Sin City have hit a bottom this year.
Although gaming executives touted last year that declines in room rates and
occupancy at casino resorts were stabilizing, conditions continued to
deteriorate as unemployment mounted amid a brutal recession. This forced
gamblers and tourists to continue to cut back spending on discretionary
activities, particularly on gambling and glitzy vacations.
"It was worse last year," CEO Jim Murren said in an interview Wednesday,
adding a "bottom is happening this year." He said a stronger recovery in Las
Vegas last year was elusive given that consumers continued to pull back on
spending. "Las Vegas has lagged the U.S." recovery, he said.
Murren expects activity will be robust during the first quarter of 2011
because of strong booking for conventions, which were severely curtailed
during the downturn as corporate travel waned. He also said that October
showed marked improvement for MGM's convention bookings in Las Vegas.
Nonetheless, casino operators are still struggling to turn the odds in their
favor in Las Vegas. The company reported Wednesday that its third-quarter
loss narrowed amid sharply lower write-downs related to its struggling Las
Vegas City Center complex. The company posted a combined $357 million in
write-downs tied to the City Center complex and the planned sale of its 50%
stake in the Borgata Hotel Casino & Spa in Atlantic City, N.J. A year
earlier, City Center-related write-downs were $1.17 billion.
MGM and Dubai World, joint owners of the massive City Center casino complex
opened last December, are still scrambling to figure out how to fix the $8.7
billion project's financial problems. They have studied closing two of the
site's three hotels, according to The Wall Street Journal, and have outlined
a plan to seek relief on terms of the complex's $1.8 billion loan. If the
terms can't be renegotiated, City Center could be in default as soon as the
middle of next year.
During an earnings call Wednesday with analysts and investors, Murren said
the company is currently exploring refinancing opportunities and the debt
should be reconciled in short order.
"The bond market is very hot. The bank market, and in real estate in
particular, is very strong, and there's a high degree of interest in
participating in a new facility, a new debt structure, at City Center,"
Murren said during the call. "We think this is not only imminently doable,
but it won't take long," he said, adding that "we want to get something done
hopefully by the end of the year."
Analysts said such upbeat comments about the City Center loan and improving
business in Las Vegas fueled the company's stock price 8.6% higher to $12.10
in recent trading.
Between Jan. 1 and Sept. 30, MGM reported, City Center had a net loss of
nearly $1 billion, including $600 million in write-downs. Meanwhile, revenue
at most of MGM's other casinos weakened this year.
The company reported a third-quarter loss of $318 million, or 72 cents a
share, compared with a prior-year loss of $750.4 million, or $1.70 a share.
Write-downs totaled 51 cents and $1.72, respectively.
Net revenue increased 1.6% to $1.72 billion as casino revenue dropped 9.4%.
But excluding reimbursed costs, revenue mainly related to the company's
management of City Center, net revenue fell 3%.
The company last month said revenue per available room, an important lodging
industry measure of performance, fell 2% at its Las Vegas Strip properties
amid lower occupancies and flat average daily rates.
【在 a****g 的大作中提到】
: hard to interpret
: but happy to hold
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