Casino operator MGM Resorts International said Wednesday its first-quarter loss narrowed to $89.9 million as its overall revenue rose slightly, but gambling revenue fell 5 percent.
The results compare with a loss of $96.7 million during the same quarter last year for the Las Vegas company in which billionaire Kirk Kerkorian is a major investor. This year's loss amounts to 18 cents per share, compared with 22 cents per share last year.
MGM Resorts said revenue rose 3 percent to $1.5 billion as room rates increased, convention business improved and its hotel-casinos had fewer vacancies.
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