Mirage Earnings Off

M-G-M Mirage is blaming a sharp drop in third-quarter earnings on the September eleventh terrorist attacks. The Las Vegas based casino giant lost nine cents a share for the three months ending September 30th, a 51 cent swing from the 42 cents a share it earned in the same period a year ago. Company executives say they expect earnings to rebound by the end of the year. Mirage is the parent of Beau Rivage Casino in Biloxi, Mississippi.

The Beau Rivage recently laid off 340 workers. The company's six Las Vegas resorts averaged unprecedented low occupancy levels of 64 percent from September eleventh to September 30th. Occupancy rates are usually in the high 90s. It laid off six-thousand-400 of its 37-thousand-300 Las Vegas employees. But 21-hundred workers have been hired back, leaving four-thousand-300 out of work.

The company posted net revenues of 993 million in the quarter, down five-point-three percent compared to the same quarter a year ago.