Mandalay Resort Says Loss Will Top Forecasts
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Mandalay Resort Group said its fiscal fourth-quarter loss will exceed analysts’ estimates, citing a drop-off in New Year’s bookings.
The company, whose Las Vegas properties include the Mandalay Bay, Luxor, Excalibur and Circus Circus hotel-casinos, will have a “double digit” loss for the three months ending Jan. 31, it said in a regulatory filing Analysts were expecting a loss of 7 cents.
Mandalay said the Sept. 11 terrorist attacks disrupted booking for New Year’s weekend.
It also said that the Super Bowl and Chinese new year, both popular times for gamblers to visit Las Vegas, will fall in February, Mandalay’s fiscal second quarter, instead of January as they did last year.
Shares of Las Vegas-based Mandalay rose 57 cents to $21.95 on the NYSE.
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