MGM2020 Discussion - Page 4 - Las Vegas Lifestyle Forum - Las Vegas Entertainment and Living Information

I think we talked about it in the other thread already. People fail to understand that big changes at a huge business like Wynn are months or even years in the making and something that happened a couple weeks after Steve left was certainly green lit way before that happened.

It’s still pretty impressive how successful Wynn has been over the last decade, considering that back when they built Encore the thinking was that the North Strip would be the new hot spot. Then everything else up there went up in flames and thanks to City Center / Cosmo the center Strip is king.

Quote

05-28-2019 , 11:57 AM

#77

Gzesh

Carpal \'Tunnel

Join Date: May 2011 Posts: 7,643

Quote:

Originally Posted by madlex

I think we talked about it in the other thread already. People fail to understand that big changes at a huge business like Wynn are months or even years in the making and something that happened a couple weeks after Steve left was certainly green lit way before that happened.

It’s still pretty impressive how successful Wynn has been over the last decade, considering that back when they built Encore the thinking was that the North Strip would be the new hot spot. Then everything else up there went up in flames and thanks to City Center / Cosmo the center Strip is king.

Curious, how profitable has City Center been since it opened , in the sense of operating income of its components ?

Have its components in the aggregate turned an annual operating profit, ever ?

Just curious.... heavy may be the head that wears the crown as "King of the Strip".

Quote

05-28-2019 , 12:39 PM

#78

madlex

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 17,404

Quote:

Originally Posted by Gzesh

Curious, how profitable has City Center been since it opened , in the sense of operating income of its components ?

Have its components in the aggregate turned an annual operating profit, ever ?

I’m too lazy to look up actual numbers and operating income is a little bit tricky in that context because it includes depreciation (but not interest) but in general the main problem with CityCenter is the price tag close to $10bln. No matter how well your properties do, going $5bln over construction budget is something that’s almost impossible to overcome in the hospitality industry.

Quote

05-28-2019 , 04:38 PM

#79

SenatorKevin

veteran

Join Date: May 2007 Posts: 2,905

Quote:

Originally Posted by Gzesh

MGM 2018 Operating Income:

Bellagio - 405m
MGM Grand - 304m
Mandalay - 175m
CityCenter* - 138m
NYNY - 112m
Mirage - 95m
Excalibur - 91m
Luxor - 81m
CircusCircus - 43m

* MGM's share as Dubai receives 50% of profits per their bailout agreement.