MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts posted improved fourth-quarter revenues in 2016 compared to the previous year, but the generated income fell far short of projections.

MGM Resorts CEO Jim Murren is encouraged heading in 2017 despite a disappointing fourth quarter for his company.

The Las Vegas-headquartered gaming and hospitality company reported net income of nearly $70 million for the final three months of the year. That translates to four cents per share, a far cry from the analysts’ consensus estimate of 21 cents for the quarter.

Though the company’s new property in Washington, DC, appropriately named National Harbor, brought in big money for MGM, and performance improved at the conglomerate’s 10 venues in Las Vegas and Atlantic City’s Borgata, the convention space underperformed.

Regardless of coming in well under fiscal expectations, CEO Jim Murren painted the earnings data in a rosy light.

‘The achievement of key financial and strategic milestones demonstrates our continued focus on driving profitability,’ Murren said in a release. ‘We are excited about the outlook for 2017.’

Investors on Wall Street don’t normally take the bait, and value numbers over words. Traded on the New York Stock Exchange, shares of MGM Resorts fell as much as nine percent following the financial announcement.

For the complete year, MGM generated a net income of $1.24 billion, or $1.94 per share. That’s a substantial im Read more

China Vows to Crack Down on Prohibited Casino Gambling Marketing Strategies Free Online Pokies No Download

Minster Guo further informed media that online gambling has also been targeted by the national government and police force agencies. The House Commerce Committee will too vote on HB 7037 today. Minster Guo told regional free online pokies with features media that they are going to probe comprehensively to the matter, in order to identify people who promote overseas casino gambling to Mainland Asia residents and to discipline wrongdoers ‘severely’. Gross gambling income during the casino hub soared very nearly 18% in February to MOP2991 billion, the greatest month-to-month increase for the last seven months.

Mike Los Angeles Rosa, HB 7037 would ban the addition of more slots at pari-mutuels and would additionally require those to remove player-designated games from the list of the offering. The Senate gave on Wednesday preliminary approval to Sen. Both legislative free pokies no download play online free pieces contain provisions that concern the tribe.

Chinese high roller players are a casino consumer group favored by high-class resorts into the Asia-Pacific region and Las vegas, nevada because of the investing practices. Tribal officials have pointed out that they wouldn’t normally give up on their blackjack exclusivity that effortlessly, but that they’re not ready to spend more than initially negotiated without being offered more in exchange. Nevertheless, neither of this two bills has thus far pokies to play for free appeased officials that are tribal their tries to negotiate exactly what is perfect for the tribe’s gambling operations. The state lodged an appeal in January. The arrests unlocked a high-profile scandal that, among other things, led to Crown Resorts reporting a huge decrease in VIP revenue for initial 1 / 2 of the present year that is financial.

And as mentioned above, Crown Resorts’ Perth and Melbourne properties saw a decrease that is con Read more