Two Way Hard Three | Las Vegas Casino & Design Blog

February 23, 2006

MGM MIRAGE: Record 4th Quarter and Year End Results

Posted by Hunter

Profit was up 31% on increased revenue for fourth quarter. Earnings were at $97.8 million and revenue to $1.75 billion. Annual profits were $444.3 million on revenues of $6.48 billion.

Since this includes the acquisition of Mandalay Resort Group, MGM MIRAGE breaks out same store numbers for more accurate comparison.

More information here:

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B5776353A%2D79DC%2D4D30%2D98DD%2DD7F952645F8F%7D&siteid=google&keyword=

Update: A few things from the conference call:

  • Continued restaurant changes at Mandalay Bay. rumjungle and 3950 are being changed around.
  • Luxor - a new nightclub is replacing Ra and the race and sports book will be moved to make way for a new restaurant.
  • Mirage - Japonois should open in August and the Cirque show in May.

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Categories: Business of Gaming, Las Vegas Strip, MGM Resorts International


Comments

Read archived comments (2 so far)
February 23, 2006 9:13 AM Posted by detroit1051

Here's an update on CityCenter from the Clark County Comprehensive Planning Dept. I was looking for the update on the Tropicana redevlopment, but I couldn't find it. I'm looking forward to checking into Wynn today. More later, including my tour of the new South Coast. I was disappointed.


http://dsnet.co.clark.nv.us/dsnetapps/agendaweb/Data/P0166576.htm

February 23, 2006 4:57 PM Posted by socalduck

I see Wynn just reported quarterly revenue of $269.4 million. This looks particularly impressive next to MGM Mirage's $1.75 billion, given that Wynn is working with only one hotel. The analysts will call it a miss, but depending on how much they beat up the stock, it could be a buying opportunity.