Wynn Resorts announced that they will be reporting earnings on Monday morning. Hard Rock May Finally Be Sold. While the deal isn’t confirmed there’s too much smoke not to see a fire. + more news and scoop
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.
Park MGM, Boyd Gaming Crushing, Free Show By The Killers + much much more. Count on TravelZork every week for all the Vegas News!
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 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.
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.
Earnings calls are boring AF. Earnings calls for casino operators aren’t entirely boring, they’re just boring. No AF. I just need to vent before diving into the MGM Resorts 3rd Quarter Earnings call this week.
These calls are intended provide information for financial investors in corporations and not for the public. I’m closer to the latter. I’m not an investor and I write for normal people that may not understand or care about the financial jargon. For the most part, I listen to these calls to see if there’s any news that mainstream news outlets don’t report or care about.
Last week various casino operators shared the stage. Quarterly earnings reports can often contain interesting news.