Las Vegas – Gaming | Three Quarterly Casino Earnings Reports To Watch
The year has just gotten underway and most of us are looking forward and planning for the future. The casino operators have started to do so as well. However, the largest casino corporations in Las Vegas will take some time out to look back at last year. It’s quarterly earnings season where corporations share information on their previous quarter. Hopefully, some of the luxury and large casino operators will also spend some time looking forward informing up what they have in store for Las Vegas. Here are the reporting dates for Las Vegas casino operators that I’m looking forward to.
This is when Las Vegas Sands (LVS) reports earnings. They’re one of the largest casino operators in the world even though they only operate two casino-resorts, The Venetian and The Palazzo, in Las Vegas. The majority of their earnings calls will cover their overseas operations. I’m hoping that there will be an update on the 17,500 seat theater they’re supposedly building with MSG (Madison Square Garden). I say supposedly because there hasn’t been much discussion about construction plans and progress. We also haven’t heard a completion date or timeframe proposed.
Wynn Resorts (WYNN) reports earnings on February 9. Again, they’re one of the largest casino operators in the world and have only two casino-resorts currently operating in America. Wynn and Encore are usually marketed as one property, Wynn, with two resort towers – Wynn and Encore. Construction is ongoing for a two-story 75,000-square-foot luxury retail mall in the area where the poker room and Ferrari dealership once stood. I expect an update since the mall should be opening later this year and maybe we’ll hear something about that. The real curiosity for this earnings report will be if construction on Wynn Paradise Park will get underway. The expansion to include a new hotel, casino, and lagoon is interesting to say the least.
MGM Resorts International (MGM and MGP) should have at least one action-packed earnings call on February 16. They have the most casinos in Las Vegas and around America of the three companies listed here. I’ve come to expect a lot of useful information in MGM Resorts earnings reports. Here are a few things to look forward to in Las Vegas from this report: 2016 revenue will give an idea of price trends for 2017, success of the Profit Growth Plan (see info on Q3 here), what new fees and cutbacks to expect in 2017, potential Excalibur renovation, what will happen with MGM fairgrounds and other potential projects for the new year. This is typically the most informative earnings call of all the casino companies.
N/A – Cosmopolitan
Cosmopolitan isn’t a public company and doesn’t report quarterly earnings. However, it seems as though 2016 was a good year for the casino-resort. If there is spectacular news to share regarding 2016, I expect them to share it in the next few weeks.