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Home » Forums » Questions and Answers » Las Vegas (other than gambling) » MGM MIRAGE REVENUE FOR CALENDAR YEAR 2009
MGM MIRAGE REVENUE FOR CALENDAR YEAR 2009
| February 18th, 2010 at 9:38:37 PM permalink | |||||||||||||||||||||||||||||||
| pacomartin Member since: Jan 14, 2010 Threads: 547 Posts: 6224 | MGM posted their individual revenue for calendar year 2009, which is down from $6.474 billion in the year 2007. Treasure Island was making roughly $400M/YR before it was sold. This is the first time in six years (since they bought Mandalay Resort Group in 2004) that they have published the individual gross revenues from each casino. Mirage is still a money maker 20 years later. All figures are in $millions.
Previous Year's Totals 2009=$4,656.87 2008=$5,889.08 2007=$6,473.79 2006=$6,227.77 Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear | ||||||||||||||||||||||||||||||
| February 19th, 2010 at 5:19:59 AM permalink | |
| Niblick Member since: Dec 12, 2009 Threads: 15 Posts: 108 | Paco, the range of revenues in and between the properties is far broader than I would have imagined. The negative growth rate (7% over the four year period says my HP12C) is not a big surprise. I just never perceived that the Bellagio could be greater than four times the revenue size of NYNY. Sure, the Bellagio is big...but by a factor of four? And this is pre-Aria. What are your impressions? Nemo Omnibus Horis Sapit |
| February 19th, 2010 at 7:54:26 AM permalink | |
| AZDuffman Member since: Nov 2, 2009 Threads: 153 Posts: 2913 |
I assume you mean TI had REVENUE of $400MM/year? If $400MM was the profit someone stole it for $750MM purchace price. "The Roman Empire wasn't planned, but neither did it 'just happen.'" |
| February 19th, 2010 at 8:29:15 AM permalink | |
| pacomartin Member since: Jan 14, 2010 Threads: 547 Posts: 6224 | Treasure Island had a gross revenue of $400 million per year. All the figures are gross revenue. Casinos revenues are only loosely related to number of rooms. Bellagio is a five diamond property and is one of the choices for the whales. It has twice as many rooms, but four times the net revenue as NY-NY. In general the "meat and potato" gambling (blackjack, craps roulette, slots, carnival games) have been slipping all over Vegas at extreme rates, while only baccarat and penny slots are growing. The old Primadonna resorts (NY-NY, Excalibur, and Luxor) are seen as passe with their themes. MGM-MIRAGE is trying to de-theme them as much as possible. Excalibur is the most profitable of all of the MGM casinos on the strip by percentage of gross revenue. Excalibur makes $32.79 per room per day, while Circus Circus makes $2.91 per room per day in "operating income". Mandalay Bay and Circus Circus dropped badly (about 20% in one year). MB lost all the convention business, and people are probably upgrading for cheap out of CC. Gaming revenue at Circus Circus dropped below $72 million per year. The Circus Circus in Reno has dropped below $36 million. Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear |
| September 13th, 2011 at 10:11:40 AM permalink | |
| primastar Member since: Sep 13, 2011 Threads: 0 Posts: 1 | I would love to see this report for the 2010 year end...how much improvement or decline posted. Is there a 2010 and I missed it!? Like the fact that the Mirage is hanging on. It's one of my favorites places when I come to vegas!! :) |
| September 15th, 2011 at 8:06:08 AM permalink | |||||||||||||||||||||||||||||||||||||||||||||
| pacomartin Member since: Jan 14, 2010 Threads: 547 Posts: 6224 |
Revenue in nearly all properties was down even lower in 2010, but has been slowly going up in 2011. The company is in serious trouble, but it is simply too big too fail as it is the largest employer in Las Vegas. Previous Year's Totals 2010=$4,456.89 without Aria 2009=$4,656.87 2008=$5,889.08 2007=$6,473.79 2006=$6,227.77
Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear | ||||||||||||||||||||||||||||||||||||||||||||
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