Here’s a preview of Fontainebleau. The casino floor looks great, and I can’t wait to check it out. Jonathan Halkyard, MGM Resorts CFO, recently spoke at the Leveraged Finance Conference. He mostly discussed how the Las Vegas Grand Prix weekend went from one of the slowest of the year to the “highest-grossing weekend in hotel revenue in the history of the company.”
Only a small COVID-19 update for Las Vegas during this long holiday weekend. There are no major changes to COVID-19 protocols when you visit a casino. You still have to wear a mask inside of casinos unless you’re eating, drinking, or smoking. The larger scoop of the week is that Cosmo Vegas is for sale.
No major Vegas COVID-19 update again this week. It hasn’t gone anywhere, and casinos remain under the same protocol. Read this if you’re curious about the local bar situation. Layoffs seem like they’re about to hit some non-gaming hotels too. You can always visit the Nevada Independent for Nevada COVID data. Perhaps, our most significant news is that Mirage is ready to open.
This is going to be a different look at the news from Las Vegas. We’re going to focus mainly on earnings from MGM Resorts and Caesars Entertainment before diving into a few quick hits. The earnings reports didn’t have much top-line news but they both touched on leisure travelers similarly, and that was interesting. (And, also a look at New Vegas….)