MGM Mirage experienced a "challenging but momentous" year in 2009, according to the company's chairman and chief executive officer Jim Murren.

The operator reported that net revenue decreased by six per cent to $1.5bn in the fourth quarter of 2009, while casino revenue decreased seven per cent. However, the company’s new Aria casino resort at CityCenter earned operating income of $7m in 15 days of operations.

"This has been a challenging but momentous year for MGM Mirage culminating with the opening of CityCenter in December," Murren said. "We generated significant cash flows and kept our buildings occupied at 90 per cent even in a brutal economy because we are equipped with the highest quality resorts, the preeminent brands and the finest employees in the industry.

"We have profoundly improved our cost structure and are actively building revenue to maximise operating leverage as the economy shifts into recovery mode. Our forward convention booking pace accelerated again in the fourth quarter with over 440,000 future room nights booked. We are keenly focused on strengthening our financial foundation and made historic progress last year."