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    MGM results improve on Las Vegas Strip spending, China growth

    23.02.12

    MGM Resorts International on Wednesday said net revenue improved across the board for its Las Vegas casino resorts in the fourth quarter, helping the company narrow its loss for the period.

    Bellagio, for instance, posted quarterly net revenue of $308.8 million, up from $269.3 million in the year-ago quarter as the average daily room rate there improved from $209 to $242.

    The MGM Grand similarly saw its average daily rate grow from $117 to $136, an indication of higher demand as tourists return to the Las Vegas Strip and spend more as the local tourism industry rebounds from the recession.

    Additional revenue increases were reported at Mandalay Bay, the Mirage, Luxor, New York-New York, Excalibur, Monte Carlo, Circus Circus and at the half-owned CityCenter complex. Overall, room revenue was up 10 percent at wholly-owned domestic resorts.

    Overall, MGM Resorts said quarterly net revenue companywide was $2.3 billion vs. $1.5 billion in the fourth quarter of 2010, thanks largely to the addition of MGM China to the corporate numbers. Excluding MGM China, net revenue was up 7 percent.


    Source: VEGAS INC

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    iGaming conference gathers industry's big fish
    Covers - Apr 28, 2011 Echoes from the recent online poker arrests and domain seizures will be cascading throughout the Monte Carlo in Las Vegas next week (May 3-4) at the inaugural iGaming North America conference. Industry heavyweights and newcomers to

    Ten top-rated casino hotels around the world
    Travel Daily News International - Apr 26, 2011 Ten top-rated casino hotels around the world The Monte Carlo Casino is one of Hotel de Paris' most glamorous hotspots; the elegant dress code requirement creates a very strong sense of tradition and style. Guests can play against the house in Roulette games in the “Sale des Ameriques”,

    Casino giants' problem gambling efforts are shoddy
    Las Vegas Sun - Apr 25, 2011 Casino giants' problem gambling efforts are shoddy That encounter sprang to mind this month after I strayed accidentally into the “responsible gaming” section of the Monte Carlo website, was quite appalled, and then took an extensive and damning inventory of how major casinos handle this matter online.

    Monaco city break: An insider's guide to things to do
    Telegraph.co.uk - Apr 21, 2011 Monaco city break: An insider's guide to things to do Directly outside the Casino, the Café has the key see-and-be-seen terrace in Monaco, and the most arrogantly churlish waiters, perhaps, in the world. (That gets you out of leaving a tip.) Take a table and watch the spectacle that is Monte Carlo.

    Monaco's Royal Wedding Attracts Travelers to Principality of Romance
    PR Newswire (press release) - Apr 18, 2011 The Grand Tour open-top bus, runs between 10:00am and 6:00pm every day and takes passengers to 12 stops of interest including the Prince's Palace, Casino de Monte-Carlo and museums. After a multi-year renovation program, several public areas and rooms