{"id":17748,"date":"2016-02-19T14:25:10","date_gmt":"2016-02-19T22:25:10","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=17748"},"modified":"2016-02-19T14:25:10","modified_gmt":"2016-02-19T22:25:10","slug":"banner-week-for-wynn-station-life-after-macao-for-mgm","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/banner-week-for-wynn-station-life-after-macao-for-mgm\/","title":{"rendered":"Banner week for Wynn, Station; Life after Macao for MGM"},"content":{"rendered":"

\"red_rock\"Station Casinos<\/strong> closed out the year on a strong note, posting its 11th straight quarter of net revenue growth and 19th of improved cash flow. It marked blue-ribbon finish to a year that saw the highest revenues for the company since 2008. Net revenues in the company’s breadbasket, Las Vegas<\/strong>, were up 3% and the tribal-management sector had a breakout 2015, with revenues up 67%. With the company’s IPO on hold again, management kept mum about it<\/a>.<\/p>\n

* Congratulations to Wynn Resorts<\/strong> for being the third-highest-rated company in the hospitality sector in Fortune<\/em>\u00a0Magazine’s 2016 World’s Most Admired Companies roster. Wynn topped the\u00a0Quality of Products\/Services, and got high marks for management and as a long-term investment.<\/p>\n

* MGM Resorts International<\/strong>‘s Macao<\/strong>-related writedown of $1.5 billion didn’t put a damper on JP Morgan<\/strong> analyst Joseph Greff<\/strong>‘s enthusiasm for the stock. “We are also bumping our Macau property \"MGM_Cotai\"level estimates to take into account better margins and less bad mass table game revenues,” he wrote, while describing Las Vegas Strip<\/strong> performance as “better than expected,” with 6% room-revenue growth. Return on investment at MGM Grand Detroit<\/strong>, Beau Rivage<\/strong> and CityCenter<\/strong> also exceeded expectations. Convention business on the Strip pushed room revenues at the core properties up 18%, compared to ‘only’ a 9% increase at luxury properties. As for Caesars Entertainment<\/strong> CEO Mark Frissora<\/strong>‘s claim that he’s eating the competition’s lunch, I will simply note that MGM cash flow on the Strip is up 14%.<\/p>\n

The lion rode out a modest decline in gambling revenues, driven mainly by lower volume of table-game play, but slots were up 1%. VIP play in Macao was worse than expected but mass-market play was higher than anticipated, making for $499 million in revenue rather than the anticipated $484 million. All told, it could have been a lot worse. Meanwhile, the company’s plan to start charging for customer parking is playing to rave reviews<\/a> from The Motley Fool<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Station Casinos closed out the year on a strong note, posting its 11th straight quarter of net revenue growth and 19th of improved cash flow. It marked blue-ribbon finish to a year that saw the highest revenues for the company … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[56,44,7,62,11,35,57,32,9,19,100,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/17748"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=17748"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/17748\/revisions"}],"predecessor-version":[{"id":17752,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/17748\/revisions\/17752"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=17748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=17748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=17748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}