MGM Grand Inc.: The Beverly Hills company,...

MGM Grand Inc.: The Beverly Hills company, owner of a three-plane, all luxury airline and a Las Vegas casino, reported profit of $5.9 million in the first quarter, up from $900,000 a year ago. This quarter marked the start of the company’s second year as a publicly traded entity. Sales in the current quarter were $64.5 million, up from $37.1 million a year earlier. Operating income for the company improved over 1988 as a result of a full quarter of operations (1988 results include hotel and casino operations for only the February-March period). In addition, casino revenues increased substantially compared to the like period last year.