According to VegasInc, there were two factors that influenced the financial success of publicly traded companies in Las Vegas this quarter.
Upon close inspection of this quarter’s earnings reports, the Las Vegas companies that experienced the most success either had a connection to Macau or have plans invested in real money online poker.
Wynn Resorts, Las Vegas Sands, and MGM Resorts International had solid quarters. As the report points out, all three aforementioned casinos are in various stages of building resorts in the only legal gambling spot in China.
Announced on an earnings call, Wynn is building the Wynn Palace on the Cotai Strip. The floral-themed resort is slated to open by Chinese New Year 2016.
Sixty four percent of Las Vegas Sands revenue was generated through its China division. Like Wynn, Sands is also building on the Cotai Strip. They are building a 3,000-room Parisian Macau-themed resort.
Although not as deeply entrenched in the Macau market as Sands and Wynn, MGM does occupy a presence there. It has a 51 percent stake in MGM China that resulted in quarterly revenue rising more than 6 percent and reducing losses by more than 36 percent.
Success had by the three company’s Macau divisions translated to similar success in their respective Vegas operations.
Station Casinos with help from their Ultimate Poker online offering saw revenue increase by 1.4 percent and earnings rise by 11.4 percent. Station will also offer online gambling to residents of New Jersey.
MGM has applied for online gambling licenses in Nevada and New Jersey.
Due to additional revenue generated from its Peninsula Gaming acquisition, Boyd Gaming experienced an outstanding quarter and is also anticipating online gaming.
Join the Conversation