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Whoo-Hoo Cosmo Made Some $$$$

Discussion in 'Casino Industry & Development' started by smartone, Aug 8, 2015.

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  1. smartone

    smartone VIP Whale

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  2. wpete

    wpete High-Roller

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    Of course all that profit will now have to go towards repairing the Bamboo pool and replacing all the flammable material in and around the entire casino.
     
  3. UTE

    UTE Plastics

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    Good to hear. Though a significant share of the "profit" was due to bookkeeping changes (i.e., re-evals) at least some of it was due to increased revenue and decreased costs. We're seeing signs the tide is rising across the market segment.

    Bill
     
  4. thecarve

    thecarve Misanthrope

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    Are you sure?

    Everything was down except casino revenues which were up huge. And they credited "marketing efforts" as one of the causes. One could argue that they're doing exactly what the folks you're :poke: want them to do.
     
    Number 50!
  5. Nevyn

    Nevyn VIP Whale

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    One would presume insurance will help cover that.

    Actually, yeah, the article even says that
     
  6. smartone

    smartone VIP Whale

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    Uh Oh... you might just have a point!!!!!
     
  7. thecarve

    thecarve Misanthrope

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    Just think how much they’d be making if they put a $2.99 steak and eggs special on the menu at STK!
     
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  8. Someone

    Someone High-Roller

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    yea as the article stated casino revenues up, baccarat tournaments being offered contributing to that, club revenue down due to competition, restaurant revenue down do to a closed venue and less entertainment focused events being offered

    who knew Vegas was about gambling :poke:
     
  9. Film-Noir

    Film-Noir High-Roller

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    Nice



    Nevermind, must stop reading TR's

    peace:
     
    Last edited: Aug 9, 2015
  10. captainron62

    captainron62 VIP Whale

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    Actually there is a rumor that STK will be turning into a Day/Night club. It will be called DCK during the daytime hours and then switch monikers to PSY during the post dark portion of the day.
     
  11. Krh2o

    Krh2o MIA

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    This spring Cosmo stopped the earning of Identity Points for table play, and made it harder to earn Identity Points for slot play (from $1.50 to $2.50 to earn 1 point).

    I just saw the whole report. They spent 23.5% more in casino expenses to make 20.9% more in casino revenue. Thats not good.

    They cut their Marketing costs by over 5 million, and their corporate expense by 5 million year over year. That coupled with the fact that they have less depreciation and amortization, due to the discounted sale, brought them into the black.

    Their margins were still better on food and beverage then they were on the casino.
     
  12. thecarve

    thecarve Misanthrope

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    :haha: Good stuff!

    DCH taken already?
     
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  13. captainron62

    captainron62 VIP Whale

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    haha, yeah I think that DCH is what they are using for the old Book and Stage.
     
  14. Mafioso

    Mafioso Low-Roller

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    MGM is Notorious for taking care of us 50 dollar minimum table games players.
    the problem is places like Wynn, Venitian and Cosmo that dont loosen their purse stings when it comes to comps.
     
  15. Terry Benedict

    Terry Benedict VIP Whale

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    Looks like they let go of two people.
     
  16. CJ's

    CJ's Low-Roller

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    When Frank and I were playing at the BJ tables earlier this month a pit critter "let slip" that MGM are "probably" going to buy the Cosmo some time soon so I guess they will be happy about being in the black at last :ssst:
     
    The way I like to start a new year
  17. leo21

    leo21 VIP Whale

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    That must be news to the group currently acquiring Cosmo now!
     
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