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MGM Mirage sees lower hotel, conference revs

Tue May 6, 2008 11:29am EDT

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LOS ANGELES, May 6 (Reuters) - Casino operator MGM Mirage (MGM.N) expects second-quarter hotel revenue to fall from year-earlier levels, its chief operating officer said on Tuesday.

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Speaking on a conference call, COO Jim Murren also said MGM expects its convention business results to post a single-digit drop in the second quarter, compared with a decrease of about 10 percent in the first quarter.

He said MGM is working to enhance revenue and reduce costs in the face of ongoing U.S. economic weakness.

"When the economy picks up, as it will ... we will be in a position to outperform our peers," Murren said. (Reporting by Deena Beasley; editing by Jeffrey Benkoe)

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