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.
The initial excitement for the launch of the Las Vegas Grand Prix (LVGP) next year is coming to an end. The first batches of tickets for the event are sold out but some more will be released early next year.
This week we will get to a new construction update as well as some current renovations. We mentioned that MGM Resorts planned on renovating a portion of the rooms at MGM Grand after the company’s recent earnings call. Some of the rooms in the newly named Studio Tower (former West Wing) will be available in late October. The rest should be completed before the end of the year.
We’re going to start Vegas News with a look at casino earnings again. The season is over, so we can get back to regular news about what’s happening in and around Las Vegas next week. Also, some sparkling news about Caesars Palace Las Vegas and why Caesars Palace Casino shines!
Before we get to the big loyalty news and MGM Rewards Details, we are happy to report that The Consumer Electronics Show (CES) went off as planned this week. CES says that more than 40,000 people attended the convention this year.
Fontainebleau Las Vegas construction is resuming again for the third (?) time! + lots of casino news and scoop!
This week Caesars Entertainment, MGM Resorts, and Wynn Resorts reported earnings. This provides a lot of insight into Vegas Casino Earnings for 2021. Much like Station Casinos and Boyd Gaming earnings last week, there was a similar theme with the earnings calls. Casino corporations have learned how to effectively operate with a smaller staff and fewer amenities for guests.
Boy, the Covid-related news escalated quickly. Last week, a few Las Vegas casinos were approved to increase capacity to 100% and remove plexiglass. Early this week Caesars, MGM Resorts, and more joined the “100% Club”. That was just the beginning. On Thursday, the CDC updated its mask guidelines. Nevada followed suit allowing businesses to change their policy. Next, Nevada Gaming Control announced that it’s allowing casinos to update their policy.
Casino earnings season came to an end with a bang this week. Caesars reported fourth-quarter and full-year earnings for 2020. We all know last year was bad for casinos. You can see that in the release. On the good news side, Vegas Pool Season arrives.
Before we share a huge amount of Vegas Quick Hits and the rumor about Hamilton in Vegas….. We’re going to start Vegas News off a bit differently this week. I received a rare Saturday morning marketing email from a gaming company that I have to share.
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