MGM Resorts International on Tuesday posted a second-quarter loss, double what Wall Street forecast, but that didn’t rattle investors. They focused instead on the casino and resort operator’s surging revenue, driven by better-than-expected results in China and higher revenue for hotel rooms.
Shares jumped more than 10 percent.
Executives discussing the results during a conference call said they expect revenue from hotel rooms to be lower in the third quarter.
The visitors who traveled in the second quarter, MGM said, spent more at casinos and paid higher hotel rates but saw fewer shows, bought cheaper food and shopped less.