The revenue may be going down, but that doesn't mean they have to operate at a loss (they could always cut their variable expenses to match the cut in revenue).

The revenue may be going down, but that doesn't mean they have to operate at a loss (they could always cut their variable expenses to match the cut in revenue). It would be more accurate, but not as click-baity, to describe it as "MGM getting up to $8.4M less revenue a day". A slightly more misleading use of "losing money" is for example when movie or music companies claim they are "losing" billions of dollars to piracy, when there is no reason to believe that every pirated copy would instead be purchased at full price, if only piracy were eliminated.