MGM Mirage announces record profits, expansion plans

04/21/2004 | Washington Post, The

MGM Mirage hit the jackpot in first-quarter earnings, reporting the most profitable quarter in the gambling giant's history. Riding high on booming visitor levels and strong customer spending, the company doubled its net income to $105.8 million, or 72 cents per share, compared with $51 million, or 33 cents per share, during the same period last year. The company also plans to build resorts in Atlantic City, N.J., and on the Strip between the Bellagio and Monte Carlo hotels.

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