Profit was up 31% on increased revenue for fourth quarter. Earnings were at $97.8 million and revenue to $1.75 billion. Annual profits were $444.3 million on revenues of $6.48 billion.
Since this includes the acquisition of Mandalay Resort Group, MGM MIRAGE breaks out same store numbers for more accurate comparison.
More information here:
Update: A few things from the conference call:
- Continued restaurant changes at Mandalay Bay. rumjungle and 3950 are being changed around.
- Luxor - a new nightclub is replacing Ra and the race and sports book will be moved to make way for a new restaurant.
- Mirage - Japonois should open in August and the Cirque show in May.
Technorati Tags: gaming industry, las vegas, mandalay bay, mgm grand, mgm mirage, mirage, project citycenter, treasure island
Comments
Here's an update on CityCenter from the Clark County Comprehensive Planning Dept. I was looking for the update on the Tropicana redevlopment, but I couldn't find it. I'm looking forward to checking into Wynn today. More later, including my tour of the new South Coast. I was disappointed.
http://dsnet.co.clark.nv.us/dsnetapps/agendaweb/Data/P0166576.htm
on February 23, 2006 9:13 AMI see Wynn just reported quarterly revenue of $269.4 million. This looks particularly impressive next to MGM Mirage's $1.75 billion, given that Wynn is working with only one hotel. The analysts will call it a miss, but depending on how much they beat up the stock, it could be a buying opportunity.
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