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'Skyfall' and 'The Hobbit' Drive MGM's 2012 Revenues to $1.38 Billion

'Skyfall,' Sam Mendes Win Empire Awards in U.K'Skyfall,' Sam Mendes Win Empire Awards in U.K

Driven by the one-two punch of Skyfall and The Hobbit: An Unexpected Journey, MGM saw its 2012 revenue surge to $1.38 billion, up 97 percent over the previous year.

MGM Holdings, the parent company of MGM, reported Monday that its adjusted EBITDA for the past calendar year was $286 million, an increase of 48 percent over the prior year.

More to come...