China Write-Down Weighs Over MGM's Q4 Earnings

MGM Resorts recently reported its Q4 and full year 2015 earnings, which came in below the street estimates and the Q4 loss widened due to a big write-down in China. While MGM Macau continued to face the headwinds amid lower gaming volume, a double-digit RevPAR (revenue per available room) growth boosted the domestic revenues. The company was able to expand its company-wide EBITDA margins by 300 basis points amid cost efficiencies. Macau continues to remain fragile and the overall market saw a 27...