Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of casino operator MGM Resorts International (NYSE: MGM) popped 11.3% in intraday trading today after the company narrowed its third-quarter loss.

So what: A narrower third-quarter loss may sound like a reversal of fortunes for MGM Resorts, but that doesn't mean the company's out of the woods. Although total revenue increased a smidge, revenue from gambling and room rates slid 9% and 3%, respectively, signaling that some pain remains.

Now what: Let's not forget it wasn't long ago that MGM shares plunged on a secondary debt offering, reminding investors of the company's precarious position and highly indebted balance sheet. It's also selling land, and that could help it pay off obligations, but that may translate into a long-term risk. Given the economic malaise in the U.S., maybe investors should look at casino operators like MGM, Las Vegas Sands (NYSE: LVS), and Wynn Resorts (Nasdaq: WYNN) with a "what happens in Vegas, stays in Vegas" attitude ... and stay away.

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Alyce Lomax does not own shares of any of the companies mentioned. The Fool has a disclosure policy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.