Aug. 3--MGM Mirage lost $216.6 million in the second quarter, due primarily to the steps the casino operator took to straighten out its financial health.

The Las Vegas-based company, which operates nine Strip resorts and is building the $8.5 billion CityCenter, said the loss translated into 60 cents per share for the period ended June 30. In the same quarter last year, it posted a profit of $113.1 million, or 40 cents per share.

MGM Mirage recorded non-cash impairment charges of $188 million, or 34 per diluted share net of tax, recorded losses of $58 million, or 11 cents a share, after retiring some debt. Both move were done as the company completed a $2.65 billion restructuring plan.

Analysts polled by FactSet Research predicted MGM Mirage would lose 7 cents a share.

Company revenue fell 22 percent in the quarter to $1.49 billion compared with $1.9 billion a year ago.

"This has been a monumental quarter for us, as the significant capital market transactions and other corporate finance activities meaningfully improved our financial position," MGM Mirage Chairman and Chief Executive Officer Jim Murren said in a statement. "Perhaps as important, we saw a more stabilized, though still difficult, operating environment in the second quarter."

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