CityCenter Reduces Shortcomings In MGM Mirage Casino Revenue

Casino News - February 18th, 2010 - Written By Glen

MGM Mirage, one of the leading casino operators in the world, has been in a downward spiral over the year of 2009. With debt increasing and revenue dropping, the company has been in trouble. The fourth quarter, however, watched as the $8.5 billion dollar CityCenter complex opened on the Las Vegas Strip.

When the CityCenter, a veritable city within a city, had finally opened, people had begun flocking to this establishment. A beautiful casino, the Aria resort and casino, rivaling even Nevada Online Casinos, a gorgeous shopping center, and many amenities await those who would visit the CityCenter. The CityCenter is MGM Mirage's ace in the hole.

In the fourth quarter, MGM Mirage lost almost $434, which equated to 98 cents per share. Their losses had totaled at $1.29 billion over the year. This was significantly worse than the previous year, or a loss of $855.3 million. MGM's revenue slump is expected to narrow significantly now that the CityCenter is amongst their choices in Vegas. With Atlantic City Casinos desperately grasping for straws to increase revenue, or conversely turning to bankruptcy, that portion of MGM's future may also help to turn around their slump.

The Las Vegas Strip has been showing gains over the last few months, possibly attributed to the CItyCenter's development. With a large number of booking, over 440,000 future nights in fact, MGM's future is beginning to look up. Having opened in the middle of December, the CityCenter and Aria Resort and Casino has already begun to turn things around for the hamstrung company.