Well, we do like to keep a handle on casino stocks and shares (just in case you want a flutter on the stock market).
One of the Vegas big boys, Caesars Casino (who incidently have a great online casino in the UK- but not in the US (land of the free??!!) have just released their year end and Q4 numbers for 2011.
Here’s the summary:
Well, that’s enough of the numbers. Suffice to say, they are heading north and there’s lots of black numbers on the year on year percentages.
According to the management, this was all down to their brilliant management skills, (obviously), but also thanks to strong results in Las Vegas and from their international resorts and online activities (so said Gary Loveman, chairman, president and CEO and General Man About Town (one who does not get the coffees in por la mañana) at Caesars Entertainment).
On the poor side, “challenges in certain regional domestic markets” didn’t do so well. Errrr, Atlantic City then?
So says Gazza:
“The continued growth in Las Vegas was driven by robust international play and higher room and occupancy rates at our properties. The outlook for continued strong group bookings and increased visitation to that market bodes well for the success of our Caesars Palace projects, including the Nobu hotel tower and restaurant additions and the Octavius Tower completion, which opened to the public in January this year. Work is progressing on the Linq retail, dining and entertainment experience that will open on the Strip in phases in mid to late 2013.”
Roughly translated, this means:
“Vegas was up thanks to the Out of Towners, and we got alot of bums in beds. All the new stuff is coming on nicely, like the new posh Sushi and hotel which has just opened. Watch this space for more shopping girls, plus more posh nosh and razamatazz next year. Looking good, people”.
The company has got a grip on their expenses with a corporate initiative called Project Renewal and there are 2 Ohio casino projects on the go with Rock Gaming which are going full steam ahead.
Horseshoe Cleveland is opening May this year and Horseshoe Cincinnati should be opening its doors for a Q3 2013 opening.
There’s also plans afoot for a 3,750-slot mega gaming palace in Baltimore,” he said. Plus they are teaming up with Suffolk Downs that plans to bid for the Zone 1 casino license in Massachusetts.
And Caesars are really going hell for leather online as well. They bought the remaining 49% of online social-games operator Playtika, with more than 3 million active daily users and they have applied for a license to offer online poker to Nevada players, which has set out regulations for intra-state online gambling, and will go after similar licenses in other states as the US market opens up.