MGM Resorts’ fourth-quarter loss narrows but fails to meet analysts’ estimates

LAS VEGAS — MGM Resorts International says its fourth-quarter loss narrowed, thanks in part to a tax benefit, while revenue climbed and occupancy improved at its Las Vegas Strip properties.

The casino operator says it lost $113.7 million, or 23 cents per share, for the period ended Dec. 31. That compares with a loss of $139.2 million, or 29 cents per share, the year before. Analysts expected a loss of 20 cents per share, according to FactSet.

Revenue rose 55 percent to $2.3 billion from $1.48 billion. The 2011 quarter includes MGM China, which went public in Hong Kong in June. Analysts predicted $2.21 billion.

MGM Resorts says it had $13.6 billion of debt at year’s end.

The Las Vegas company’s stock fell 53 cents, or 3.7 percent, to $13.66 in premarket trading.