MGM Mirage, the biggest casino owner on the Las Vegas Strip, reported a $212.6 million second-quarter loss after a writedown and drop in gambling revenue, but shares rose 3 percent, or 22 cents, to $7.45 after cash flow beat analysts’ estimates.

Revenue slid 21 percent to $1.49 billion, beating the $1.48 billion average estimate of 15 analysts.

The Las Vegas company slashed hotel room rates to attract tourists after companies cancelled conferences, leading to 400,000 fewer convention room nights this year, the company estimated.

Cash flow, or property earnings before interest, taxes, depreciation and amortization, totaled $379 million excluding some items. Analysts had forecast $333.1 million.