MGM Resorts, Caesars Entertainment, Cosmopolitan, LVS, Wynn Casino Earnings
MGM Resorts International (corporate name), Caesars Entertainment (corporate name), LVS (Palazzo & Venetian corporate name), Wynn (corporate and real name) and Cosmopolitan (not corporate name) all recently reported earnings from the last quarter in the past week. Here’s a quick recap.
- MGM Resorts suffers net loss of $145.5 million in second quarter – Big earnings in Macau, strip underwhelming. Small revenue increases at Aria is probably good news.
- Loveman: Economy hurts Caesars’ results – Las Vegas hotel room rates increased slightly but middle income customers still spending less. Atlantic City properties net revenu down almost 9% from last year.
- Las Vegas Sands Earnings Miss Estimates On Slump In Asia – Forget Palazzo and Venetian. They’re more concerned with international growth that’s slowing.
- Wynn Resorts earnings hit by slumps in Las Vegas, Macau – While focused on international growth like LVS, casino revenues at Wynn Las Vegas and Encore were $98.6 million, down 37.7 percent from the second quarter of 2011. That’s not good. They’ve also stopped sending me offers. Karma. 🙂
- 2nd-quarter revenue up, losses down at Cosmopolitan – The only bright sign in casino earnings in Vegas. Gambling income increased over 37% from last year. Surprisingly, table game income was lower. The increase is said to be from higher foot traffic in the casino.
Even though they are still losing money the increases in revenues at Cosmo are impressive. – especially while every other company in Vegas lost money.
Each casino (company) section links to an article with more detailed information if you care to read more.
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