Major casino providers see profit boost

2007-10-31 11:07:37

The third quarter earnings of two of the gambling world's most famous casino providers were announced today.

MGM Mirage and Wynn Resorts both saw profit increases, with Wynn being able to thank its new Macau casino for a massive revenue boost, the Reno Gazzette-Journal reported.

Wynn's revenue increased by more than 100 per cent to $653.4 million and it tallied a net income of $44.7 million.

MGM's revenue increased by $100 million, rising from $1.8 billion to $1.9 billion.

Its earnings increased by $27.6 million compared to the previous year, raking in $183.9 million, according to the Las Vegas Review-Journal.

President of MGM Mirage Jim Murren said: "Key volume indicators that we have come to rely on to gauge our Las Vegas business remain strong.

"These metrics suggest continued growth over the upcoming quarters."

MGM Mirage owns major casinos such as the MGM Grand, Mandalay Bay and the Bellagio.

Wynn Resorts owns Wynn Las Vegas and Wynn Macau.