I just left their Resort and it is sweet ! Lots of 100 % payback Video Poker machines and a nice sportsbook with some of the best futures in all of Las Vegas. It is located on the far South side of town right off the I-15 just before you get into Vegas. This is already one of my favorites and I have only been there once ! I can't wait until tomorrow when I will hit the Video Poker machines to scarf up some easy $$, Comps etc. I have already detected a few mistakes.
you do realize it's in the middle of nowhere, right?
and I give it 24 months before it's going under. $1 billion debt to pay off with what.....300 rooms? That's Holiday Inn size. Room revenue is the biggest moneymaker for casino chains and I am confident that their revenue projections during planning estimated room rates would keep rising every year......not take a 60% decline like the Strip has seen in the past 6 months.
Even worse is the fact they are going up against the only debt-free casino in Vegas, SouthPoint.
The same steak size you'll buy for $45 at M Resort will be sold, with probably better imported beef, for $12 at the closest casino.
I also expect MGM Mirage to declare Chapter 11 by end of summer.
* Las Vegas Sands fell from a high of $144.46 to less than $3.40.
* Wynn Resorts fell from a high of $164 to less than $26.
* MGM Mirage has fallen from a high of $99.75 to less than $5.20.
* Melco Crown Entertainment fell from $22.20 to less than $2.50.
* Trump Entertainment fell from $20+ to less than a quarter.
* And Boyd Gaming has been trampled, tumbling from $50+ to less than $5.
and I give it 24 months before it's going under. $1 billion debt to pay off with what.....300 rooms? That's Holiday Inn size. Room revenue is the biggest moneymaker for casino chains and I am confident that their revenue projections during planning estimated room rates would keep rising every year......not take a 60% decline like the Strip has seen in the past 6 months.
Even worse is the fact they are going up against the only debt-free casino in Vegas, SouthPoint.
The same steak size you'll buy for $45 at M Resort will be sold, with probably better imported beef, for $12 at the closest casino.
I also expect MGM Mirage to declare Chapter 11 by end of summer.
* Las Vegas Sands fell from a high of $144.46 to less than $3.40.
* Wynn Resorts fell from a high of $164 to less than $26.
* MGM Mirage has fallen from a high of $99.75 to less than $5.20.
* Melco Crown Entertainment fell from $22.20 to less than $2.50.
* Trump Entertainment fell from $20+ to less than a quarter.
* And Boyd Gaming has been trampled, tumbling from $50+ to less than $5.
