{"id":55524,"date":"2017-07-28T17:00:02","date_gmt":"2017-07-29T00:00:02","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=55524"},"modified":"2017-07-28T16:56:29","modified_gmt":"2017-07-28T23:56:29","slug":"mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/","title":{"rendered":"MGM Revenues Rise But Profits Fall, Boyd Earnings Show Resurgent Locals Market"},"content":{"rendered":"

MGM Resorts intends to focus on efficiency and profitability in coming months, CEO Jim Murren told investors Thursday, during the company\u2019s earnings call, after reporting Q2 results that showed major revenue increases, but also significant earnings decreases.<\/p>\n

\"MGM
MGM CEO Jim Murren told investors, after seeing Q2 results, that he intends to focus on streamlining operations, and expects the upcoming Mayweather-McGregor fight to have a big impact on Q3. (Image: MGM Resorts)<\/figcaption><\/figure>\n

MGM reported that revenue rose 16.3 percent to $2.64 billion for Q2 2017, much of which was attributed to the performance of its new National Harbor property, in Maryland, just across the Potomac River from Washington DC.<\/p>\n

Opened in late 2016, the casino \u201ccouldn\u2019t be doing better,\u201d Murren said. Already the best-performing casino in Maryland by far, MGM National Harbor contributed net revenue of $177.8 million to MGM\u2019s total Q2 haul, which would\u2019ve ranked it fourth out of the company\u2019s nine Nevada casinos, the Las Vegas Review-Journal <\/em>noted.<\/p>\n

Still, earnings fell 53 percent to $241.6 million, compared with Q2 2016, a fact that prompted Murren to emphasize that the company would be focusing on efficiency and profit margins in coming months.<\/p>\n

Optimistic Outlook<\/h2>\n

He noted that one big profit driver expected in the second half of 2017 will be the Floyd Mayweather-Connor McGregor fight<\/a>, scheduled for August 26 at T-Mobile Arena, which MGM partly owns.<\/p>\n

\u201cThis could be the second biggest fight of all time and it will certainly drive millions of people to watch Las Vegas, watch T-Mobile, and watch Mayweather and McGregor,\u201d Murren said.<\/p><\/blockquote>\n

Murren said the company will open its new MGM Cotai \u201cwithin two to three months,\u201d while the MGM Springfield in Massachusetts remains on schedule for completion in mid-2018.<\/p>\n

The Borgata Atlantic City was also a big contributor to MGM\u2019s revenue in Q2, generating $209.4 million. MGM took over ownership of the property in 2016 when it bought out a 50-50 partnership with Boyd Gaming<\/a> for $900 million.<\/p>\n

Best Locals Market in Nearly 10 Years<\/h2>\n

Speaking of Boyd, efforts to return the company\u2019s focus back to its Las Vegas home base also seems to be paying off. Boyd Gaming President and CEO Kevin Smith was also speaking to investors on his company\u2019s earnings call Thursday. And on it, he toasted the best Q2 results for its Las Vegas locals market in almost a decade.<\/p>\n

Boyd\u2019s, which owns the Suncoast, Gold Coast, Sam\u2019s Town, the Orleans, and other off-Strip casinos in Las Vegas, reported earnings of $48.6 million on $599.9 million in revenue for the quarter. Both numbers were up significantly compared to last year\u2019s reported Q2 earnings of $30 million on $544.9 million in revenue.<\/strong><\/p>\n

\u201cStrong performances continued throughout our operations during the second quarter, reinforcing our confidence in the long-term direction of our company,\u201d Smith said.<\/p>\n

Smith said these results were \u201cdriven by ongoing improvements to our operations and a strong regional economy. Our three newly acquired Nevada properties delivered another great quarter, as we continued to successfully execute on growth and synergy opportunities.\u201d<\/p><\/blockquote>\n

Boyd\u2019s went on something of a splurge last year, acquiring the Aliante and Cannery Casino Hotels in North Las Vegas, and the Eastside Cannery Casino Hotel in the eastern part of the Las Vegas Valley.<\/p>\n","protected":false},"excerpt":{"rendered":"

MGM Resorts intends to focus on efficiency and profitability in coming months, CEO Jim Murren told investors Thursday, during the company\u2019s earnings call, after reporting Q2 results that showed major revenue increases, but also significant earnings decreases. MGM reported that revenue rose 16.3 percent to $2.64 billion for Q2 2017, much of which was attributed […]<\/p>\n","protected":false},"author":42,"featured_media":55526,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nMGM Revenues Rise But Profits Fall, Boyd Sees Resurgent Locals Market<\/title>\n<meta name=\"description\" content=\"MGM\u2019s revenues are up but earnings fall short,with Mayweather-McGregor fight promising a big Q3. Meanwhile Boyd Gaming sees best Q2 in nearly a decade.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Revenues Rise But Profits Fall, Boyd Sees Resurgent Locals Market\" \/>\n<meta property=\"og:description\" content=\"MGM\u2019s revenues are up but earnings fall short,with Mayweather-McGregor fight promising a big Q3. Meanwhile Boyd Gaming sees best Q2 in nearly a decade.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-29T00:00:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-07-28T23:56:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/\",\"name\":\"MGM Revenues Rise But Profits Fall, Boyd Sees Resurgent Locals Market\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg\",\"datePublished\":\"2017-07-29T00:00:02+00:00\",\"dateModified\":\"2017-07-28T23:56:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"MGM\u2019s revenues are up but earnings fall short,with Mayweather-McGregor fight promising a big Q3. Meanwhile Boyd Gaming sees best Q2 in nearly a decade.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg\",\"width\":800,\"height\":530,\"caption\":\"MGM CEO Jim Murren told investors after seeing Q2 results, he intends to focus on streamlining operations moving forward, and he expects the upcoming Mayweather-McGregor fight to have a big impact on Q3. (Image: MGM Resorts)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"MGM Revenues Rise But Profits Fall, Boyd Earnings Show Resurgent Locals Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MGM Revenues Rise But Profits Fall, Boyd Sees Resurgent Locals Market","description":"MGM\u2019s revenues are up but earnings fall short,with Mayweather-McGregor fight promising a big Q3. Meanwhile Boyd Gaming sees best Q2 in nearly a decade.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"MGM Revenues Rise But Profits Fall, Boyd Sees Resurgent Locals Market","og_description":"MGM\u2019s revenues are up but earnings fall short,with Mayweather-McGregor fight promising a big Q3. Meanwhile Boyd Gaming sees best Q2 in nearly a decade.","og_url":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2017-07-29T00:00:02+00:00","article_modified_time":"2017-07-28T23:56:29+00:00","og_image":[{"width":800,"height":530,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/","url":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/","name":"MGM Revenues Rise But Profits Fall, Boyd Sees Resurgent Locals Market","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg","datePublished":"2017-07-29T00:00:02+00:00","dateModified":"2017-07-28T23:56:29+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"MGM\u2019s revenues are up but earnings fall short,with Mayweather-McGregor fight promising a big Q3. Meanwhile Boyd Gaming sees best Q2 in nearly a decade.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Jim_Murren_2.jpg","width":800,"height":530,"caption":"MGM CEO Jim Murren told investors after seeing Q2 results, he intends to focus on streamlining operations moving forward, and he expects the upcoming Mayweather-McGregor fight to have a big impact on Q3. (Image: MGM Resorts)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/mgm-revenues-rise-but-profits-fall-boyd-sees-resurgent-locals-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"MGM Revenues Rise But Profits Fall, Boyd Earnings Show Resurgent Locals Market"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/55524"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=55524"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/55524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/55526"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=55524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=55524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=55524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}