Strong 2nd Quarter Earnings Predicted

The July 21 Las Vegas Review Journal anticipates second-quarter profits more than 50% higher than last year for the "Big Six." Included are Boyd Gaming, Harrah's Entertainment, Las Vegas Sands, MGM Mirage, Station Casinos and Wynn Resorts.

Wall Street analysts credit the opening of Wynn, the strong leisure market, both from locals and elsewhere, and Macau's contribution to Las Vegas Sands.

Deutsche Bank's Andrew Zarnett said of Las Vegas Sands, "The Venetian once stood at the end of the Strip. Now it stands at the center because Wynn is pulling thousands of people a day up to the new end of the Strip."
Zarnett also said visitation by retirees and baby boomers is driving growth.

UNLV history professor Hal Rothman sounded a note of caution that the strong earnings "may be a harbinger of a brighter future or just a reflection of the opening of Wynn Las Vegas in April."

It certainly seems that Las Vegas is hot, in more ways than one, this summer.

The Review Journal's comprehensive article may be read at:
LV Review Journal on Gaming Revenue

Categories: Business of Gaming