Las Vegas Sands: Q3 2007 Loss

Comments

November 1, 2007 1:51 PM Posted by Hunter

This is a pretty big miss for them from what I can see in the numbers.

Believe me, I'm bullish on Cotai and I think Venetian Macau will do great there. My point originally on the occupancy was that it will take time for the market to absorb 3,000 new rooms of capacity (which is a HUGE amount for that market) and that occupancy rates will take time to climb to the 95%+ that we're used to in Las Vegas.

November 1, 2007 2:02 PM Posted by Hunter

For more info on some predictions for these numbers, back in the day, read the comments here:

http://www.ratevegas.com/blog/2006/11/wynn_resorts_po.html

November 1, 2007 6:15 PM Posted by detroit1051

"I was really wondering about occupancy at Venetian Macau: 77.5%. Detroit, we gotta check our bet - what were our metrics?"
Hunter, I honestly can't remember. I may have said 90%+ occupancy in the first Quarter. Since it was only open 34 days in the Quarter, we'll have to wait until the next report. How's that for being a weasel. I hope I don't owe you too much!

November 1, 2007 8:47 PM Posted by Hunter

Yeah, I think you're probably right, though having the first 30 days fall in the previous quarter will certainly skew in your favor. :-)

Either way, that's fine. I'm just interested to see our first numbers from Cotai - AND to hear from the WYNN call that they haven't seen a drop off in their numbers. Are these properties really growing that tilted market?

November 2, 2007 10:55 AM Posted by Hunter

The RJ article is here:

http://www.lvrj.com/business/10969061.html

Check out Sheldon's quote "Bigger Is Better..." - a direct message to Steve Wynn who has been saying 'better is better' for some time.