MGM Grand Inc. reported a third-quarter loss...

MGM Grand Inc. reported a third-quarter loss of $955,000, considerably less than the loss of $4.35 million a year ago. The loss from operations was $757,000 on net revenue of $54.2 million. The Beverly Hills-based casino, hotel and airline company completed the acquisition of the Desert Inn and Sands Hotel in Las Vegas on Feb. 1. In April, the company agreed to sell the Sands, but the deal is awaiting completion. The company noted that it was in the development stage during most of 1987, meaning that results for that year will not be comparable to 1988.