Two Way Hard Three | Las Vegas Casino & Design Blog

October 29, 2008

MGM Mirage Reports Third Quarter Results

Posted by Hunter |

MGM Mirage announced their 3rd quarter results for 2008:

http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=IROL-NewsText&t=Regular&id=1219027&

and

http://www.lvrj.com/news/breaking_news/33503729.html

Profits are way down from the year ago quarter. MGM Grand Macau is doing a bit better and Bellagio had an unexpected uptick but generally, they're feeling the pinch as you can see in the figures.

Categories: Bellagio, Business of Gaming, Las Vegas Strip, MGM MIRAGE, Macau Casinos and Hotels, Project CityCenter


Comments

Post a comment (4 so far)
October 29, 2008 8:55 AM Posted by Brian Fey

They really are not that bad at all. But I think the 4Q might be. Stock is up 25% now, and LVS is up 70% today. Amazing.

October 29, 2008 11:59 AM Posted by socalduck

It appears they are backing off any new developments and focusing on City Center. Also, the Detroit numbers are way up.

October 29, 2008 3:04 PM Posted by Nico

Profits are down, but it is still a profit. Boo hoo!

October 30, 2008 12:04 PM Posted by Judy Jenner

There we have it, more proof that our beloved city is not recession proof; not that any of us thought that recently. I hear reports of an empty I-15 (there is such a thing?) on Friday afternoon coming into Vegas: not a good sign.

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