Vegas News January 24, 2021
Casino Earnings Season
We’re coming up on casino earnings season. The quarterly earnings calls and reports are useful to learn about Las Vegas casino operators. The reports allow us to look back at the quarter. This quarter will also look back at the entire year of 2002. The calls offer more commentary as the casino operators look to the future.
Personally, I enjoy listening to the calls and weeding through the corporate stock shilling to get useful information for people who enjoy visiting Las Vegas.
The mainstream news outlets exist to provide information. So they just offer the information provided without digging deeper. That’s useful for most people.
There’s a good chance that you’d like to know more if you’re reading a Vegas news blog. Taking the news at face value is certainly helpful. However, diving deeper offers information most news outlets don’t cover.
Boyd Casino Earnings Thoughts
For example, we started looking at Boyd Gaming’s B-Connected loyalty program when it changed back in 2018. Boyd continues to tout the loyalty club changes. These updates allow the company to focus on the most profitable customers. This is helping them keep business going well through the coronavirus pandemic.
This isn’t news for TravelZork readers but customers are still seeing cutbacks. During its next earnings call, I expect Boyd will once again discuss how the company is maximizing its loyalty program.
Maximizing Profits – Casino Earnings
They’re not alone. Caesars, MGM, and Wynn are also focused on maximizing profits from loyalty club members. This doesn’t mean offers are gone. This just means the companies are paying closer attention to how much every guest spends. Players are rewarded accordingly based on whatever algorithm the companies use.
First-quarter earnings calls will be a bit different for me too. I typically skip Las Vegas Sands (The Venetian/The Palazzo) earnings because the company only operates one property in Las Vegas. However, with Sheldon Adelson passing away I’m curious to hear how the company will move forward this week.
A Few Things You Could Learn – Casino Earnings Calls
Here are a few more things we could learn during earnings calls and reports over the next few weeks.
- Boyd Gaming – When will Main Street Station open?
- Caesars – The company said they expect to sell at least one casino in Las Vegas by next quarter. Will there be an announcement around earnings time?
- MGM Resorts – Between openings and closings, I’m curious about everything here.
- Red Rock Resorts (Station Casinos) – Will they commit to selling Palms or the other closed casinos?
- Wynn – They’ve expanded Wynn Bet to eight states. When will it come to Nevada?
That’s just the tip of the iceberg. Fourth-quarter earnings should be interesting as Las Vegas seemed to be busy during the holidays but quiet otherwise. The earnings release period for casinos lasts a few weeks. We’ll keep you updated starting next Sunday.
Las Vegas Quick Hits
Las Vegas Quick Hits
I’m not sure what happened but there was a slew of Vegas news to drop late in the week. That’s not normally the case. Anyway, let’s get to it with a massive report that was released on Friday afternoon.
- Nevada Gaming released its 2020 abstract. This report covers all revenue for casinos throughout the state. The official press release highlights the full report. Local news highlights the highlights.
- The full 2020 Abstract breaks every penny down that went in and out of Nevada casinos. If you want to get granular you can learn what percentage of drinks are paid for or comped. You can also learn how much revenue is earned for each square foot of casino floor. This is fascinating. I’ll do a deep dive next week.
- Heads up chip collectors. Plaza has some 50th Anniversary chips available.
- Remote sports betting registration has been shelved for Nevada. Read more here.
- March Madness dates have moved. Check here if you plan on visiting Las Vegas. The first weekend of viewing will overlap into Monday.
- Let’s talk Big Game while we’re on the topic of visiting Las Vegas for sports. Super Bowl parties will have reduced capacity like all other venues inside of casinos. Read more here.
- The CSI Experience has closed at MGM Grand. I thought this happened last year but what do I know. Read about it here.
- The Venetian has a Lunar New Year display near The Palazzo casino. Read and see more here.
- The Bellagio Conservatory and Botanical Gardens have switched over to its Lunar New Year display. It’s gorgeous as always. Read and see more here.
- The new owners of the RIO All-Suite Las Vegas Hotel and Casino say the hotel will be linked with Hyatt in the future. Specific details haven’t been released. Read more about Rio’s plans here.
- Affinity Gaming (Silver Sevens) is looking to acquire more casinos. Read more here.
- Encore is a host venue for Covid-19 vaccinations. Read more here.
- The Venetian, Wynn Las Vegas, and Waldorf Astoria Las Vegas have all been listed on Sharecare Verified with Forbes Travel Guide for optimal health and safety protocols in Las Vegas. You can find an explanation about the program and see the full list here.
- Wanna buy Steve Wynn’s house? It’s available for $110 million. Read more here.
- Elio at Wynn has been permanently closed. They’ll announce a new restaurant when people start to return to Las Vegas. Read more here.
- Does it even count as a Las Vegas residency if the magic show is somewhere I’ve never been? Read more here.
- Downtown Summerlin is expanding. Read more here.
- Tivoli Village, also in Summerlin, has added six new restaurants and retail outlets. Read more here.