MGM Mirage reports Q12007 results this morning and despite posting some strong numbers that were solid gains, they didn't meet analyst consensus estimates for net income, mostly from lower than expected Las Vegas Strip gaming revenues.
Mississippi with Beau Rivage had a strong surge in activity as the property continues to come back from Katrina. Beyond that, Strip REVPAR jumped 9% and EBITDA was up as well.
I like to look at occupancy, ADR and REVPAR more than the revenue figures to get a feel for the real property performance and there was some growth there as well. The blended ADR for the Strip was $169 for the quarter and REVPAR at $162 with occupancy of 96%.
Here's the press release.