When it comes to revenue in Las Vegas, things, simply put, things are looking good. Boyd Gaming continues to steadily grow, and experienced a modest 2.1 percent growth in revenue over last year’s fourth quarter. Boyd will revamp 1,000 rooms at The Orleans and another 400 rooms at the Suncoast as well.
Station Casinos reported fourth quarter earnings of $333.7 million, which is a 2.2 percent increase over the same period for 2013. On the year, Station’s revenue stood at a healthy $1.3 billion, up 2.8 percent from the year before.
The company’s net income was $83.3 million on the year, compared to a loss of $104.4 million in 2013. As is par for the course now in Las Vegas, food and beverage revenue increased 5.3 percent for the quarter and 1.5 percent for the year. Hotel room revenue was up 13 percent for the quarter and 6.6 percent for the year.
Speaking of food, MGM Resorts International received a whopper of some good news. During the Consumer Electronics Show in January, a part of over a dozen convention-goers sat down at the upscale Prime Steakhouse inside Bellagio and had what must have been an experience of a lifetime. At least one would hope after a $300,000 dinner bill, which included bottles of wine which went for up to $15,000 per bottle.
MGM Resorts International Chairman Jim Murren was cautiously optimistic. “It tells you there is a release valve that has opened. That isn’t a trend, but it’s a sign people are ready to spend again.” MGM’s fourth quarter saw a loss of $342.3 million, compared to a loss of $56.8 million in the same quarter of 2013.
MGM is quick to blame the slumping Macau, who’s solo casino in the region saw a 22.4 percent decline in revenue compared to the same quarter a year prior. They are hoping Floyd Mayweather and Manny Pacquiao can come to an agreement and fight once and for all, which would surely help alleviate the Macau blow.
