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MGM still counting money from big fight weekend | News

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MGM still counting money from big fight weekend
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LAS VEGAS (AP) -- MGM Resorts International CEO Jim Murren says the company is still counting all the money earned from the Mayweather-Pacquiao fight it just hosted. Results will wait until the company makes its second-quarter report, though.

Officials said Monday MGM made a $169.9 million profit in the first three months of the year, up 65 percent compared to the same time a year ago.

Results were boosted in part by a legal settlement related to its CityCenter development and a dividend payout from the project.

On a per-share basis, the Las Vegas-based company earned 33 cents. The results easily beat Wall Street expectations.

The casino and resort operator posted revenue of $2.33 billion in the period which did not meet Street forecasts of $2.44 billion.

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