US – Resorts World Las Vegas reports its best ever quarter in terms of revenue and EBIDTA
Monday 27 de February 2023 / 12:00
2 minutos de lectura
(Las Vegas).- Resorts World Las Vegas (RWLV) has generated the best results in its short history record in the three months to December 31 2022 with record revenue, EBITDA and EBITDA margin, driven by the return of conventions to Las Vegas.
Revenues came in at US$227m, a sequential increase from the US$200m generated in the third quarter. EBITDA came in at US$47m up from US$18m in the third quarter with hotel occupancy hitting 89 per cent.
For the full year the casino generated a 120 per cent year-on-year improvement with revenue reaching US$794.4m.
Genting said: “In Las Vegas, visitor volume in the State of Nevada has returned to 93 per cent of pre-pandemic levels with international travel continuing to recover as COVID-19 travel restrictions ease and air travel into Las Vegas continues to grow according to the Las Vegas Convention Visitors Authority,” it said.
“Convention attendance has reached 97 per cent of pre-pandemic levels and 2023 attendance is expected to surpass 2019 levels, as larger conventions return and new sporting events are introduced such as Formula 1 Las Vegas Grand Prix and NFL Pro Bowl in 2023.
“During the current quarter, RWLV achieved record bests in casino revenue, hotel revenue, and F&B revenue all of which show positive movement towards future targeted projections. With the growing return of conventions and business travel to Las Vegas, RWLV will have its highest mix of convention base room nights in 2023. New performances at the Resorts World Theatre and future projects are expected to drive significant foot traffic in 2023 and beyond.”
Nomura analysts Tushar Mohata and Alpa Aggarwal believe EBIDTA will improve further. “RWLV also has quarterly interest charges of US$25 million and depreciation charges of US$60 million, which will drag EBITDA into losses at the net income level,” they said. “Furthermore, we believe that part of the reason for the stronger 4Q22 performance was seasonality in the holiday weeks,” they wrote in a research note.
By Phil
Categoría:Casino
Tags: casino,
País: United States
Región: North America
Event
G2E - Las Vegas 2025
06 de October 2025
CT Interactive on Innovation, Networking, and Market Growth at G2E 2025
(Las Vegas, SoloAzar Exclusive).- The global gaming industry marked G2E’s 25th anniversary with a major gathering in Las Vegas. CT Interactive stood out for its innovative product development and international growth strategy. Account Manager LATAM at CT Interactive, Roberto Muñoz, shared insights on G2E’s importance, emerging trends, and the company’s collaborative expansion efforts.
Thursday 30 Oct 2025 / 12:00
Atlaslive Explored the Future of Gaming in Latin America at Recent G2E 2025
(Las Vegas, SoloAzar Exclusive).- Bruno Almeida, Head of Sales LATAM at Atlaslive, attended G2E for the first time to explore how land-based and online gaming are converging. His experience highlighted key trends shaping the Latin American market, from immersive casino innovations to strategic networking and regulatory insights.
Monday 27 Oct 2025 / 12:00
G2E 2025: Cristian Galarza, ASAP Director Explains the Importance of Attending the Event
(Las Vegas, SoloAzar Exclusive). - After attending the 25th anniversary edition of G2E in Las Vegas, ASAP’s director shares his perspective on the evolution of the industry, driven by digitalization, efficiency, and the creation of international networks that foster new business opportunities.
Tuesday 28 Oct 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.