Who will have the largest corporate gaming revenue in 2011

Although Ceasars has not released their year end report, we can make an approximation of gaming earnings for the year. Sands and Wynn have made huge advances in 2010 based on their Asian properties.

For 2011 it is very likely that Sands will pass both MGM-Resorts total revenue (gaming and non-gaming) and will possibly pass Ceasars' gaming revenue for the year.

Interesting. So is this why Venetian/Palazzo is giving the middle finger to comp rooms - $$ in Asia?

I think it will be Sands. The revenue from the Macau and Singapore properties is nuts (especially noting that their end is less their partner's cut). It would be interesting to see the table with, "International", "LV", and "Other" broken out.

Heh ... on my work computer, the forum home page section where the recent thread titles are listed, this thread is truncated to "who will have the largest ..."

<Butt-head> heh heh ... heh ... heh heh heh .. "largest!" ... heh heh </Butt-head>

Quote: RPToro

Interesting. So is this why Venetian/Palazzo is giving the middle finger to comp rooms - $$ in Asia?

Well, most of the $$ are from their Asian markets, but the Vegas properties are as profitable as they have been in years. There is no upper limit on greed. Adelson thinks that the convention market is healthy enough to purchase his rooms, and he no longer wants to give them away.

Bottom line is that Adelson says he is primarily selling rooms in Vegas. Gaming revenue is $120m last quarter in Vegas and $80m in Bethlehem PA. Together the two US operations represent about $1 in $12 of total corporate gaming revenue.

The final numbers for Ceasars Corporation have just been posted. The fourth quarter was better than expected.

Gaming $$	CY2010	CY2009	change
Penn National	$2,242,515	$2,158,028	+3.1%
MGM Resorts	$2,442,927	$2,618,060	-6.7%
Wynn Resorts	$3,245,104	$2,206,829	47.0%
Sands Corp	$5,533,088	$3,524,798	57.0%
Vegas Strip	$5,776,570	$5,550,192	+4.1%
Ceasars Corp	$6,917,900	$7,124,300	-2.9%

Ceasars is still 25% ahead of Sands. With Sands is still planning to develop lots #5 and #6 in the Cotai Strip, but they will not be completed in 2011. They have dropped their plans to develop the lots #7 and #8.
However, revenue in the already built casinos in Macau seems to be soaring. A lot depends if revenue grows or shrinks for Ceasars

Ceasars revenue in Las Vegas only dropped 3.5% in 2010 (excluding the acquisition of Planet Hollywood; inclusive of PH it went up 5.1%). In Atlantic City Ceasars gaming revenue dropped 10.4% but non-gaming revenue increased by 54%. Atlantic City is still the largest market for gaming revenue for the company (by 10%).

I think it is probably an even money bet if Sands passes Ceasars to be the largest gambling corporation in the world this year. I think there is an overwhelming probability that it will happen by the end of 2012 (unless Ceasars magically pulls a rabbit out of their hat).