Mandalay Profit Jumps More Than Fivefold
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Mandalay Resort Group, owner of the Luxor and Mandalay Bay casinos, said fourth-quarter net income rose more than fivefold to $22.8 million after it attracted more gamblers in Las Vegas with a new hotel and convention center.
Net income climbed to 35 cents a share from $4.2 million, or 6 cents a share, a year earlier. Revenue rose 11% to $604 million, the Las Vegas-based company said.
Mandalay shares rose 62 cents to $52.76 on the NYSE. Results were released after the close of regular U.S. trading.
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