Net revenues increased 74% from the same quarter last year. Even same-store net (not including Mandalay's properties) was up 10%.
The closing of Beau Rivage cost them $13M compared to the previous year.
Full details on the results: here.
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Categories: Business of Gaming, Las Vegas Strip, MGM Resorts International
Well, the biggest news seems to be the decline resulting from Beau Rivage, resulting in the stock dropping.
Here's some more from the LVRJ:
While waiting for a plane a few days ago, I spoke with an event planner who specializes in large conventions. She said that a lot of convention activity originally scheduled for Q4 and Q1 of next year in New Orleans has been moved to other locations, with Las Vegas leading the list. This would seem to be the recipe for strong earnings for MGM and the other major players.
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