MGM MIRAGE’s Mississippi operations slumping
Published: November 6,2009
The current year results were impacted by non-cash impairment charges totaling $1.17 billion, or $1.72 loss per diluted share net of tax, including a pre-tax non-cash impairment charge of $956 million related to the company’s investment in CityCenter and a pre-tax non-cash charge of $203 million related to impairment of CityCenter’s residential real estate under development.
MGM MIRAGE reported EBITDA of its Mississippi operations during the quarter was approximately $13.593 million, compared to $15.987 million during the same period last year. For the nine-month period, the company’s Mississippi operations saw operating income of $40.775 million, compared to $48.938 million during the comparable period the prior year.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Kemper County plant will cost at least another $496M to complete
- Molpus closes Fund after more than $662M in commitments
- State Sen. Gandy hospitalized in South America
- Cochran calls on EPA for review of Yazoo Backwater Project
- Camgian launches Internet of Things product called Egburt
- Number of requests for general election absentee ballots roughly same as primary
- Former Mississippi First Lady Carroll Waller dies at 87
- After string of losses, O'Hara sees himself as Senate 'protest vote'