BetMGM reported revenues of $944 million in the first half of the year, marking a 25% year-on-year increase, putting them on track to meet their annual target of between $1.8 billion and $2 billion. Some analysts from Jefferies even estimate revenues could reach $2.2 billion, given the historical weighting towards H2. The company’s overall market share across the 26 states where it operates, including Ontario in Canada, is 18%, and its market share in the iCasino segment stands at 27%. Both figures are slightly down compared to Q4 2022, with overall market share being 19% and iCasino market share being 30% back then. BetMGM holds an 11% share in the online sports betting (OSB) market, although data from Wells Fargo suggests it may be closer […]

Reno-based Monarch Resorts has reported a solid financial performance for the second quarter, similar to its first-quarter results. The company experienced hotel room renovations at the Atlantis and unseasonable winter weather, which affected the Reno market in both quarters. However, the Monarch Hotel and Casino in Black Hawk, Colorado, performed well, contributing to year-over-year increases in revenue, net income, and cash flow. In June, the Reno market began to improve as the Atlantis resumed full operations, and visitation in Northern Nevada increased. Monarch’s CEO, John Farahi, highlighted the competitive nature of the Reno market and their prudent investments in Atlantis to maintain a leading position. For the quarter ending on June 30, Monarch reported a revenue of $123.7 million, marking a 7.3 percent increase compared […]

Las Vegas Sands (LVS) is optimistic about the renovated Marina Bay Sands resort in Singapore, expecting to increase prices significantly with the reopening of 200 high-end suites. CEO Robert Goldstein believes that having an exemplary product that people desire gives the company pricing power, similar to luxury brands like Hermes, Chanel, and Louis Vuitton. Despite operating with ongoing renovations, Marina Bay Sands saw a 36% increase in revenues to $925 million, with property-level EBITDAR up 35% to $432 million. LVS also experienced a strong return in Macau, with revenues more than quadrupling to $1.6 billion, leading to a total revenue increase of 140% to $2.54 billion. LVS is confident in Macau’s market and expressed enthusiasm for the recently renewed concession. Additionally, all six concessionaires in […]