MGM Mirage Inc.'s chief executive said Thursday that the NBA All-Star game potentially hurt its earnings and soured the company on a franchise coming to Las Vegas.
Terry Lanni made the comment after the company, which owns the most casinos of any operator on the Las Vegas Strip, reported first-quarter earnings that fell below analyst forecasts, sending MGM Mirage shares down more than 4 percent. They rebounded 2.4 percent in after-hours trading.
The company said the earnings shortfall was partially due to the rowdy crowd that surrounded the All-Star game in February, which fell on the same weekend as Chinese New Year, a crucial period for bringing in high-rollers from Asia.