MGM Resorts International "achieved many goals" in 2011, chairman and CEO Jim Murren said.
The US-based operator reported that during the fourth quarter of the year net revenue stood at $2.3bn, which was seven per cent higher than the corresponding quarter in 2010.
Property EBITDA reached $482m during the three-month period, up from $294m a year earlier. Operating income fell however, from $107m in the fourth quarter of 2010 to $91m in 2011.
MGM China's property EBITDA increased 23 per cent to $174m, while CityCenter, the company's latest casino resort in Las Vegas, recorded a 62 per cent increase in EBITDA.
Murren said the company had met many operational, strategic and financial targets.
"Operationally, we enhanced our customer experience through targeted reinvestment in our properties and improved relationships through our M life customer loyalty programme," he said. "Strategically, we acquired a majority interest in MGM China and began expanding our brand presence in key markets throughout the world, particularly Asia. Financially, our revenues and margins have improved year over year increasing our cash flow and strengthening our financial profile.
"Going forward we expect to build off these strategies to grow our company and maximise shareholder value."
Earlier this year, MGM unveiled plans to develop a 150-acre site in the US state of Massachusetts into a "world-class" casino resort.
The company is expected to be among a number of major operators vying for casino licences in the state following Governor Deval Patrick's decision to legalise commercial casinos in November.
