Two Way Hard Three | Las Vegas Casino & Design Blog
MGM Mirage 2007 First Quarter Results - Some Good, Some Bad
Posted by HunterMGM 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.
Technorati Tags: bellagio, gaming industry, las vegas, lasvegas, luxor, macau, mandalay bay, mgm grand, mgm mirage, mirage, project citycenter, treasure island
Search
Categories
- About Vegas (38)
- ARIA (21)
- Atlantic City (49)
- Bellagio (90)
- Books (10)
- Boyd Gaming (57)
- Business of Gaming (870)
- Caesars/Harrah's (130)
- Casino Design (369)
- Casino Design Photo of the Week (12)
- CityCenter (158)
- Columbia Sussex (11)
- Condo-Hotels (15)
- Cosmopolitan (20)
- Detroit Casinos (10)
- Device Manufacturers and Games (6)
- Downtown Las Vegas (71)
- Dr. Dave Schwartz (68)
- Fontainebleau (30)
- Gaming Numbers (8)
- Genting (2)
- Interviews (13)
- iPhone (43)
- Landry's (1)
- Las Vegas Photography (98)
- Las Vegas Strip (740)
- Las Vegas/Casino History (3)
- Linq (4)
- Macau Casinos and Hotels (164)
- MGM Resorts International (418)
- Monte Carlo Fire (5)
- Online Gaming (2)
- Open Topics (20)
- Palazzo (59)
- Paolo Mello (1)
- Planet Hollywood (10)
- Podcasts (149)
- Poker (11)
- Press Releases (19)
- RateVegas.com (111)
- Reader Questions (3)
- Reader Reviews (54)
- Simpson on Vegas (38)
- SLS Las Vegas (2)
- Station Casinos (49)
- Strip Walk (32)
- Stripping (Reviews) (13)
- Travel (1)
- Trip Reports (95)
- Tropicana (4)
- Vegas Gang Podcast (115)
- Vegas Internet Mafia Picnic (7)
- Vegas Mate (21)
- Vegas Tips (9)
- Vegas Uncorked (6)
- VegasDelivered.com (1)
- Venetian/LV Sands (198)
- Video (9)
- Wynn Resorts (396)
Subscribe
- Grab our RSS Feed.
New to RSS? Learn more...
Recent Comments
- All Recent Comments on one page.
- detroit1051 recently commented "Lanni makes his position on the NBA very clear: "The company said the NBA A..." in MGM Mirage 2007 First Quarter Results - Some Good, Some Bad
Archives
- January 2018
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
- May 2006
- April 2006
- March 2006
- February 2006
- January 2006
- December 2005
- November 2005
- October 2005
- September 2005
- August 2005
- July 2005
- June 2005
- May 2005
- April 2005
- March 2005
- February 2005
- January 2005
Comments
Lanni makes his position on the NBA very clear:
"The company said the NBA All-Star game in February, which fell on the same weekend as Chinese New Year, had a detrimental effect on normally higher table games revenue in Las Vegas.
During the All-Star game weekend there was a spike in arrests and complaints about rowdy behavior. Five people were shot during the weekend, including three outside a Las Vegas strip club. Tennessee Titans cornerback Adam "Pacman" Jones and two friends are being investigated for their roles in an earlier brawl outside the same venue.
"The gang-bangers and others who came for purposes other than attending the game, they weren't very good for Las Vegas," chief executive Terry Lanni told The Associated Press.
Instead of gambling, many people stayed in their hotel rooms, Lanni said.
Lanni said the weekend soured the company's support for bringing an NBA team to Las Vegas, a move under consideration by commissioner David Stern.
"Mr. Stern can keep his basketball franchises out of Las Vegas as far as I'm concerned," Lanni said."
http://www.sunherald.com/306/story/45643.html