Mandalay Resort’s Profit Increases 38%
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Mandalay Resort Group, owner of the Luxor and Mandalay Bay casinos, said fiscal second-quarter profit rose 38% as gambling revenue increased at its Las Vegas resorts.
Net income increased to $58.2 million, or 85 cents a share, from $42.3 million, or 67 cents, a year earlier, the Las Vegas-based company said. Revenue in the quarter ended July 31 rose 11% to $713.8 million.
Shares of Mandalay, which is being acquired by larger rival MGM Mirage Inc., rose 13 cents to $67.85 on the New York Stock Exchange.
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