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.

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.

Steve Wynn Still Doesn’t Like Barack Obama

Steve Wynn seems to care only about one thing – his business.  There’s nothing wrong with that and there’s nothing wrong with the recent quarterly financial results at Wynn.  Every quarter Steve Wynn takes a few minutes of his conference call to discuss what politics are helping or hurting his business.  For the past few quarters he’s railed on President Barack ObamaThis quarter was no different.

The man who played a major role in revitalizing Las Vegas is bashing President Barack Obama as “the greatest wet blanket to business, progress and job creation in my lifetime.”

Speaking to investors on a Monday conference call, casino developer Steve Wynn – calling himself a “Democratic businessman” – went on an extended rant against Obama and his policies.

His customers and the companies he works with “are frightened of this administration,” he said, “and it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.”

“Until we change the tempo and the conversation from Washington, it’s not going to change,” added Wynn, according to a transcript of the call’s question-and-answer session.

Steve Wynn owns the company and is allowed to use his quarterly earnings reports as a soapbox, so I don’t see anything wrong here as much as I feel his constant complaints to be boring, repetitive and obnoxious.  Extreme talk like this (good or bad) just makes me tune out Steve Wynn.  Frankly, the only reason I’m passing this info on is because I know others find it interesting.

If you’re interested to hear the Wynn conference call you can get it here.