by Michael J. Shapiro | February 26, 2014
In 2013, MGM Resorts International enjoyed its best operating performance since the recession, according to chairman and CEO Jim Murren. In the fourth quarter, the company reported 6 percent adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) growth at its wholly owned domestic resorts, and both CityCenter and MGM China had record quarters. The company's $2.5 billion consolidated net revenue in the fourth quarter represented a 10 percent year-over-year increase, while consolidated casino revenue grew by 13 percent. "In 2014, we expect our Las Vegas properties to continue to improve," said Murren, "driven by a strong convention calendar and the completion of several capital initiatives on the Las Vegas Strip."