Vegas News | Casino Earnings, New Places To Gamble And MSG Sphere Touts Opening + U2 Shows
The casino biz was abuzz with casino earnings last week, with MGM Resorts, Red Rock, and Wynn reporting. As expected, all had very good financial results for the fourth quarter and the full year in 2022.
Vegas News | The Mirage Finally On The Market And Lots Of News From Casino Earnings
The day is finally here! MGM Resorts is finally selling The Mirage. + lots of casino earnings news and scoop!
Remembering Jimbo’s (CEO Jim Murren) Days At MGM Resorts
By now you should know that MGM Resorts chairman and CEO, Jim Murren, informed the company’s board of directors that he will step down from his positions before his contract expires.
Vegas News | Casino Earnings, Cat Cafe and Lots Of Beer!
This week in Vegas news was dominated by casino operators reporting earnings. Sometimes these calls offer insight into future plans for the businesses. Other times these casino earnings calls offer financial information that helps explain the Vegas experience. This earnings period has a combination of both without any major breaking news.
Vegas News | MGM Resorts News and Three Renovations
We’re a week removed from the Kentucky Derby and Cinco De Mayo weekend in Las Vegas. I didn’t think I’d feel this way but Derby Day felt incomplete without a big fight. I haven’t been a boxing fan for a few years but the excitement a big fight brings to Las Vegas is unmatched. Boxing also brings in the biggest customers according to MGM Resorts.
[Jimbo needs a hug] MGM Resorts Earnings and Park MGM Delays
There’s no way to sugar coat MGM Resorts first quarter earnings. I opened the quarterly MGM Resorts earnings presentation as soon as I woke up and saw a slew of red down arrows. After a cup of coffee and actually spending time reading the why there were red arrows it’s easy to see that MGM Resorts just had a bad quarter.
Steve Wynn Announces Wynn West on Former Frontier and Alon Land
I knew there was big news coming from Wynn Resorts today. On top of a massive revenue increase, Steve Wynn dropped a Las Vegas news bomb.
Caesars Entertainment Investors Call And Presentation Notes
Caesars just had their first investors call since emerging from bankruptcy and I have a lot spinning in my head. Corporate earnings calls usually focus on revenue. This call was used more to discuss the future plans for Caesars Entertainment.
Caesars Looks Outside Of Casinos For Revenue
Most casino operators in Las Vegas prefer to have a revenue split close to MGM than Caesars. In fact, Caesars wants to have a revenue split closer to MGM Resorts. The two casino operators have different approaches to their companies. MGM Resorts is expanding with new casinos and a massive profit growth plan. Meanwhile, Caesars Entertainment is looking elsewhere to generate revenue.
First Quarter Was Great For Las Vegas Casino Operators
First quarter earnings were great for the largest Las Vegas casino operators. New Year’s Eve bled into the first quarter. The extra day of revenue was helpful for casino operators. The year always starts with a bang. The Consumer Electronics Show (CES) is the largest convention and expo of the year with well over 100,000 attendees.
