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MGM Mirage reports $750.4 million quarterly loss. Submitter didn't lose quite that much the last time he was at the MGM



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tnpir
2009-11-06 10:36:58 AM


I have a bad feeling that the Citycenter project, even if it gets finished and opened, is going to sink that company, especially in this economy. I wouldn't be surprised to see MGM sell off a few properties just to get some case (as they did with TI).

 
make me some tea
2009-11-06 10:51:09 AM


tnpir: I have a bad feeling that the Citycenter project, even if it gets finished and opened, is going to sink that company, especially in this economy. I wouldn't be surprised to see MGM sell off a few properties just to get some case (as they did with TI).

Is that thing done yet? They've been building it for over 2 years already.

 
tnpir
2009-11-06 11:01:09 AM


make me some tea: tnpir: I have a bad feeling that the Citycenter project, even if it gets finished and opened, is going to sink that company, especially in this economy. I wouldn't be surprised to see MGM sell off a few properties just to get some case (as they did with TI).

Is that thing done yet? They've been building it for over 2 years already.


Try four years. According to the article, the Vdara condo tower and the Mandarin Oriental hotel are due to open in a just a few weeks, with the entertainment sector of the property opening right after that. The big centerpiece - the Aria Hotel & Casino - opens in mid-December, adding another 4000+ really expensive rooms to the strip during a time where gambling revenue is way off.

I have a bad feeling about MGM, but if it translates into selling off some of the strip properties to independent owners, thereby breaking up some of the corporate stranglehold that has run a lot of the charm out of Vegas, I'm all for it. MGM should sell off Luxor, Monte Carlo and Circus Circus to start.

 
Tom_Slick
2009-11-06 11:08:04 AM


tnpir: MGM should sell off Luxor, Monte Carlo and Circus Circus to start.

But if somebody buys Circus Circus, they might improve the buffet then where will we go for the bad buffet challenge, the boardwalk is long gone. The Sahara is pretty bad, but not as absolutely inedible as Circus Circus.

 
make me some tea
2009-11-06 11:09:51 AM


tnpir: Try four years. According to the article, the Vdara condo tower and the Mandarin Oriental hotel are due to open in a just a few weeks, with the entertainment sector of the property opening right after that. The big centerpiece - the Aria Hotel & Casino - opens in mid-December, adding another 4000+ really expensive rooms to the strip during a time where gambling revenue is way off.

I have a bad feeling about MGM, but if it translates into selling off some of the strip properties to independent owners, thereby breaking up some of the corporate stranglehold that has run a lot of the charm out of Vegas, I'm all for it. MGM should sell off Luxor, Monte Carlo and Circus Circus to start.


Wow... has it been that long? Jeez, time flies. That makes sense, I attended the pre-sales Realtor party for City Center (woo free booze) with my ex-wife, and I separated from her in April '08.

Agreed, it certainly wouldn't hurt to shake things apart a bit on the Strip.

 
tnpir
2009-11-06 11:23:53 AM


Tom_Slick: tnpir: MGM should sell off Luxor, Monte Carlo and Circus Circus to start.

But if somebody buys Circus Circus, they might improve the buffet then where will we go for the bad buffet challenge, the boardwalk is long gone. The Sahara is pretty bad, but not as absolutely inedible as Circus Circus.


Circus Circus buffet is bad, yes. Sahara buffet is bad, yes. And the Boardwalk buffet was borderline criminal in its badness.

But have you tried Excalibur's buffet? Dear God, I wouldn't feed that crap to my dog.

Next time try the GOOD buffet challenge - Mandalay Bay, Paris, Bellagio.

 
HaywoodJablonski
2009-11-06 11:29:44 AM


If Harrah's manages to turn a profit this quarter... you're welcome

 
make me some tea
2009-11-06 11:38:38 AM


tnpir: Tom_Slick: tnpir: MGM should sell off Luxor, Monte Carlo and Circus Circus to start.

But if somebody buys Circus Circus, they might improve the buffet then where will we go for the bad buffet challenge, the boardwalk is long gone. The Sahara is pretty bad, but not as absolutely inedible as Circus Circus.

Circus Circus buffet is bad, yes. Sahara buffet is bad, yes. And the Boardwalk buffet was borderline criminal in its badness.

But have you tried Excalibur's buffet? Dear God, I wouldn't feed that crap to my dog.

Next time try the GOOD buffet challenge - Mandalay Bay, Paris, Bellagio.


Paris' buffet is overrated. It's good, but not great.
Haven't tried Bellagio or Mandalay Bay so I can't say.

Honestly the best buffets are the mom and pop places offstrip. Like Thai food? Lotus of Siam around noonish. Best. Buffet. Evar.

 
Pocket Ninja
2009-11-06 11:39:15 AM


Don't worry, subby, I made up the difference for you.

 
Tom_Slick
2009-11-06 11:48:40 AM


tnpir: Circus Circus buffet is bad, yes. Sahara buffet is bad, yes. And the Boardwalk buffet was borderline criminal in its badness.

But have you tried Excalibur's buffet? Dear God, I wouldn't feed that crap to my dog.

Next time try the GOOD buffet challenge - Mandalay Bay, Paris, Bellagio.


I forgot about Excalibur but, the point of the challenge is to see who will make the fewest trips back to buffet. Whoever loses has to pay for dinner at Tony Roma's on E. Sahara. Which is where we were led to believe that Lefty's car blew up.

 
make me some tea
2009-11-06 11:54:05 AM


Tom_Slick: I forgot about Excalibur but, the point of the challenge is to see who will make the fewest trips back to buffet. Whoever loses has to pay for dinner at Tony Roma's on E. Sahara. Which is where we were led to believe that Lefty's car blew up.

If you like good German, try Cafe Heidelberg in the same shopping center. Much better food.

 
The_Sponge
2009-11-06 12:16:43 PM


That explains why my friends and I will have to shell out $55 per person to watch the Pac-Man Cotto fight on CCTV at The Mirage.. Yeesh.


tnpir: I have a bad feeling that the Citycenter project, even if it gets finished and opened, is going to sink that company, especially in this economy.


I'm doing another Vegas trip in January, and that's where we're all staying.

/Friend's b-day party.

 
Gig103
2009-11-06 12:38:47 PM


tnpir: Next time try the GOOD buffet challenge - Mandalay Bay, Paris, Bellagio.

Add in Planet Hollywood. They had some cool stuff I hadn't seen in others, like a middle-eastern station with kabobs, lamb, and hummus. And they had creme brulee at the dessert table.

 
aegisalpha
2009-11-06 12:55:31 PM


make me some tea: Honestly the best buffets are the mom and pop places offstrip. Like Thai food? Lotus of Siam around noonish. Best. Buffet. Evar.shiat, go to Lotus of Siam for dinner, it's farking amazing.

 
make me some tea
2009-11-06 01:06:07 PM


aegisalpha: make me some tea: Honestly the best buffets are the mom and pop places offstrip. Like Thai food? Lotus of Siam around noonish. Best. Buffet. Evar.shiat, go to Lotus of Siam for dinner, it's farking amazing.

That too. Though even the buffet is amazing. Best buffet I think I've ever been to before or since.

 
poisonedpawn78
2009-11-06 01:58:53 PM


and the stock goes up because you know .. its better than losing 751 million.

 
The Angry Hand of God
2009-11-06 01:59:07 PM


I'm staying at the MGM Signature for all of next week! Hopefully they will REALLY want to make a good impression.

 
Shazam999
2009-11-06 01:59:26 PM


Wow. Their bonds are rated as junk right now and so have a fantastic yield. You might not see your principal back though, even though you're a secured creditor.

 
Lt. Cheese Weasel
2009-11-06 02:05:32 PM


Plastic town full of plastic people living in plastic castles.

Adios.

 
ihatedumbpeople
2009-11-06 02:09:53 PM


Waaaah!!! for years we've pocketed shiattons of cash...and now it's going away...waaaah!

fark off casinos...ya'll suck anyway. Casinos pray on the stupid and mathematically challenged.

/not implying casinos force anyone to play

 
bberg
2009-11-06 02:11:05 PM


I knew they were in trouble last spring when they offered me 3 free weekday nights at the Mirage or 2 free weekend nights, no blackout dates. I would barely register on the comp chart and they were practically begging me to go out there.

 
apacheco
2009-11-06 02:23:34 PM


hahahahaha

 
PlatinumDragon
2009-11-06 02:28:18 PM


Meanwhile, very close relatives are going to Vegas for a week later this month, and won't have to pay for a single night's stay. Smell the desperation.

Unfortunately for the casinos, they happen to be very controlled, fairly skillful gamblers, so they won't be making much off them.

 
usttsdw
2009-11-06 02:31:43 PM


static.tvguide.com

/Knows where the money is.

 
Forbidden Doughnut
2009-11-06 02:34:48 PM


ihatedumbpeople: Waaaah!!! for years we've pocketed shiattons of cash...and now it's going away...waaaah!

fark off casinos...ya'll suck anyway. Casinos pray on the stupid and mathematically challenged.

/not implying casinos force anyone to play


5 years ago, i was tempted to invest in a "sin" mutual fund that pours money into places like Vegas, Atlantic City, and Reno. I'm actually surprised that people have cut back on gambling. Shows how severe the recession truly is...

/ Money went into a CD instead.
// Wanted my assets to be more liquid due to layoffs at my company...

 
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