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.



Comments

Read archived comments (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.