MGM MIRAGE REVENUE FOR CALENDAR YEAR 2009

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.

Total	$4,657	profit
Bellagio	$1,065	14.8%
MGM Grand LV	$976	12.6%
Mandalay Bay	$725	9.1%
The Mirage	$624	12.0%
Luxor	$345	10.9%
New York	$250	18.2%
Excalibur	$265	18.1%
Monte Carlo	$206	8.0%
Circus Circus	$200	2.0%

Previous Year's Totals
2009=$4,656.87
2008=$5,889.08
2007=$6,473.79
2006=$6,227.77

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?

Quote: pacomartin

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 earnings from each casino.

Mirage is still a money maker 20 years later. All figures are in $millions.

I assume you mean TI had REVENUE of $400MM/year? If $400MM was the profit someone stole it for $750MM purchace price.

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.

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!! :)

Quote: primastar

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!! :)

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

	2010	2009	change
Bellagio	$1,036	$1,065	-2.72%
MGM Grand Las Vegas	$926	$976	-5.12%
Aria	$734	--	N/A
Mandalay Bay	$719	$725	-0.88%
The Mirage	$558	$624	-10.67%
Luxor	$316	$345	-8.42%
New York-New York	$246	$250	-1.82%
Excalibur	$250	$265	-5.84%
Monte Carlo	$224	$206	8.68%
Circus Circus Las Vegas	$183	$200	-8.45%

Quote: pacomartin

Bellagio is a five diamond property and is one of the choices for the whales.... Excalibur is the most profitable of all of the MGM casinos on the strip by percentage of gross revenue.

This is an old thread. Is Excalibur's profit still greater (percentage-wise) than Bellagio's? I read a statistic today that Bellagio's Conservatory & Botanical Gardens grow 255,000 plants annually. Supposedly Bellagio has a staff of 120 employees growing and arranging all those flowers.

Quote: reno

This is an old thread. Is Excalibur's profit still greater (percentage-wise) than Bellagio's? I read a statistic today that Bellagio's Conservatory & Botanical Gardens grow 255,000 plants annually. Supposedly Bellagio has a staff of 120 employees growing and arranging all those flowers.

No, but they are still very close.

Total Owned 2012	$5,933	Profit
Bellagio	$1,147	18.0%
MGM Grand LV	$961	9.8%
Mandalay Bay	$717	9.0%
The Mirage	$600	10.9%
Luxor	$322	6.4%
New York	$275	25.0%
Excalibur	$258	17.0%
Monte Carlo	$259	14.8%
Circus Circus Las Vegas	$204	2.2%
MGM Grand Detroit	$569	23.0%
Beau Rivage	$346	11.8%
Gold Strike Tunica	$151	18.2%
Other resort operations	$123	-0.7%

Does not include:
MGM China
CityCenter (50%)
Other unconsolidated resorts
Management and other operations


REPEAT OLD TABLE FOR COMPARISON

Total Vegas 2009	$4,657	profit
Bellagio	$1,065	14.8%
MGM Grand LV	$976	12.6%
Mandalay Bay	$725	9.1%
The Mirage	$624	12.0%
Luxor	$345	10.9%
New York	$250	18.2%
Excalibur	$265	18.1%
Monte Carlo	$206	8.0%
Circus Circus	$200	2.0%