Harrah's Entertainment - Net Income: -$274 million (loss) Revenue: $2.2 billion More Info
MGM Resorts International - Net Income: -$883.5 million (loss) Revenue: $1.53 billion More Info
Boyd Gaming - Net Income: $3.4 million Revenue: $578.4 million More Info
Wynn Resorts - Net Income: $52.4 million Revenue: $1.0 billion More Info
Las Vegas Sands - Net Income: -$4.7 million (loss) Revenue: $1.59 billion More Info
This thread will be updated as other companies report.
We're back with another installment of 'Simpson on Vegas' and this time around, Jeff examines the situation in Downtown Las Vegas.
This is part one of a two part series. Continue after the jump for the article.
I am very happy to announce that Vegas Podcast-a-palooza 3 will take place October 30th, 2010 at the Fabulous Flamingo on the Las Vegas Strip.
We'll do the three podcasts in the afternoon, followed by a little cocktail get-together - this is your chance to explain to me why the iPhone sucks, tell Chuck all about remembering to breathe or to ask Steve Friess if he knows how to make the Asian Equation.
Seriously, this is going to be a really fun time and we want all of you guys to come out, hang out, meet us and have some fun.
All the details: http://www.vegaspodcastapalooza.com
We're hoping to have some room deals for folks so if you think you might like to stay at The Flamingo, stay tuned.
Thanks to Chuck for the great site and big thanks to the folks at Harrah's Entertainment for hosting this year.
This morning Wynn Resorts pre-announced 2nd quarter results for their operating subsidiary that runs the Wynn Las Vegas / Encore resort complex on the Las Vegas Strip. These results do not include Macau operations.
The complete news release is here: http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1449953&highlight=
The results clearly show that Las Vegas is struggling. Wynncore is arguably the very top of the market and compared to a year ago, they are taking a bigger loss. That said, occupancy and ADR don't look as horrible as they could have been. Despite increased occupancy, REVPAR was down.
I'm sure the folks at Wynn are looking down the road at CityCenter without a distinct lack of kind words - adding thousands of rooms into the market has only served to depress rates further (we're still waiting for an increase in supply to raise room rates, as some analysts have suggested would be the case when more rooms come online later this year).
The news release also mentions increased health care costs. Can't wait to hear another episode of the Steve Wynn vs. Obama Show on their next conference call.
Podcast-a-palooza - Oct. 30th, 2010. Full details coming very soon.
* Wynn Wins Tip Battle
* Cosmopolitan of Las Vegas Discussion
* Riviera Bankruptcy
* 10 Years of MGM Mirage Resorts International, Inc.
* Vegas Gang 'Sure Bets'
Check out the show: http://www.vegasgangpodcast.com
Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to firstname.lastname@example.org.
Ah, the Nugget. Once Steve Wynn's design scratchpad, since then it's changed hands several times. Current owner Landry's has added a new tower, nightclub and renovated pool.
In my opinion, the Nugget has a lot of charm. I haven't seen the new Rush Tower yet but I'm told it's quite nice.
Way back in 2006, Wynn Las Vegas bucked a long standing casino trend and decided to split casino dealers tips with their supervisors.
Since then, it has been the subject of much ink and several trips through various parts of the legal system. Today, the Nevada Labor Commissioner has spoken: no state laws were violated.
How long until other properties start to do this? Harrah's has already asserted their right to do this at Caesars, despite the fact they also say they're not planning to do so.
This is a big milestone in this case and a major setback for those fighting it. Expect appeals though, this isn't over.
Admittedly, when I first saw the M Resort was I bit underwhelmed and I'm still not sure I like it as much as some others do. Still, I think the building is striking from some angles, such as this one.
July already? Time flies when you're thinking of Vegas.
The Las Vegas Sun has a story about a Las Vegas company which is placing commercials on idle slot machines. It looks like Palms is the only casino using this marketing product now, but I bet other casinos will follow. I don't want to be bombarded with beer, car or other ads as I'm walking through a casino. The ads don't have sound now, but how long until that changes? Less offensive would be infomercials for the casino's own offerings like restaurants, clubs, lounges, rooms, etc.
The next time any Las Vegas readers are in the Palms, let us know what you think.
Here are links to the Sun story and then the Reel TV site which has an informative introductory video.
I'm always game for a new Roger Thomas interview and when this one popped into my RSS reader, it didn't disappoint. Happy to see a bit of new ground covered - Thomas profile and interview pieces are often much of the same over and over.
Local food expert Max Jacobson sits down with Thomas to discuss his origin, background and influences.
Part one of a two part series.
Jeff Simpson is back with his latest column. This time around, Jeff looks at a sometimes complicated choice for casino operators - whether to invest in a renovation project and if so, how much to spend.
There are many examples of this on The Strip - some, like MGM Grand, have been dramatic and raised the bar significantly. Others, not so much...
Anyway, keep reading after the jump for Jeff's latest.
Happy Fourth of July to all!