MGM Resorts withdraws 2020 financial targets on coronavirus hit

(Reuters) - MGM Resorts International MGM.N withdrew its forecast for 2020 on Wednesday, as it assesses the fallout of the coronavirus epidemic on its business.

The company, whose Chief Executive Officer Jim Murren is stepping down, said it had suspended its Macau operations as the virus continues to spread.

The epidemic, which originated in mainland China and has killed more than 1,100 people, has taken a toll on casino operators as travel restrictions and fear of the virus spreading have led to cancellations of trips in the Far East.

Shares of the company reversed course to trade down 4% in extended trading.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D’Silva