MGM Resorts posts quarterly loss on pandemic pain

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MGM Resorts International posted a quarterly loss compared with a year-ago profit on Wednesday, as COVID-19 travel restrictions dented business for the casino operator.

Analysts have warned U.S. casinos could be pressured by resurging COVID-19 cases in the next few quarters, although mass vaccinations could provide a clear path to recovery by 2022.

Last month, MGM ditched plans to buy Ladbrokes owner Entain after the British company rejected an $11 billion takeover approach.

 

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US needs to allow online casinos.

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