{"id":2921,"date":"2010-04-14T15:01:57","date_gmt":"2010-04-14T23:01:57","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=2921"},"modified":"2019-12-17T07:28:09","modified_gmt":"2019-12-17T15:28:09","slug":"mgm-pre-reports","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/mgm-pre-reports\/","title":{"rendered":"MGM pre-reports"},"content":{"rendered":"

\"DSCN1282\"<\/p>\n

Aria: Nice rooms; anybody there?<\/em><\/p>\n

First, the good news: A managerial shakeup at MGM Grand Macau<\/strong> yielded a $54 million swing in operating income, turning what had been a modest loss last year into a considerable profit in 1Q10. Also, MGM Mirage<\/strong> continues to pay down debt, aided by $24 million in deposits that would-be condo buyers forfeited. (Easy come, easy go.) MGM Grand Detroit<\/strong> was a tower of strength, only $47,000 off last year’s pace and, on the Strip, Bellagio<\/strong>‘s cash flow continued to lead all MGM properties by a extremely wide margin.<\/p>\n

Now the not-so-good news. All Strip properties were down from last year, with Circus Circus<\/strong>‘ cash flow falling to $1.6 million. Some of this– not the problem at the clown house — can be attributed to CityCenter<\/strong> cannibalization … but with miserable 63% occupancy<\/a> at Aria<\/strong>, that explanation only goes so far. (George Wallace<\/strong>‘s joke about what’s it like to be the only person at Aria is beginning to obtain the ring of truth.) Also, Grand Victoria<\/em> in Elgin, Ill., looks like a money-loser. That may good news in disguise should Illinois<\/strong> regulators force MGM to sell its 50% share of the riverboat as a consequence of the company’s flirtations with Stanley Ho<\/strong>. Oh, and MGM’s white-on-black typeface is murder to read.<\/p>\n

Casino play on the Strip continues to trace a bifurcated course. Baccarat just seems to go up and up (+17% volume) while everything (other tables -4%, slots -1%) remains in a shallow decline. High-end play is propping up the Strip while we wait for Middle America to return.<\/p>\n","protected":false},"excerpt":{"rendered":"

Aria: Nice rooms; anybody there? First, the good news: A managerial shakeup at MGM Grand Macau yielded a $54 million swing in operating income, turning what had been a modest loss last year into a considerable profit in 1Q10. Also, … 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":[56,44,14,58,62,11,110,61,9,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/2921"}],"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=2921"}],"version-history":[{"count":6,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/2921\/revisions"}],"predecessor-version":[{"id":25638,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/2921\/revisions\/25638"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=2921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=2921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=2921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}