|
Average first-quarter occupancy for MGM s Las Vegas Strip properties, including the MGM Grand, came in at 46%.
MGM Resorts CEO Bill Hornbuckle reported that the gaming giant s Las Vegas business saw some of its best gross booking performance in company history in March, fueled by pent-up leisure and casino demand. Our initial recovery has been strong, Hornbuckle told investors during MGM s first-quarter earnings call on Wednesday. We expect robust leisure demand throughout the spring and summer months, with hotel occupancies in the 90% range on the weekends. Weekdays will increasingly be driven by meetings and conventions, and our group business remains solid in the back half of this year.
MGM Resorts International Reports First Quarter 2021 Financial And Operating Results
- Best quarterly operating results in Las Vegas since reopening
- U.S. Regionals achieved record 1Q Adjusted Property EBITDAR and Adjusted Property EBITDAR margins
- BetMGM delivered market share gains in the growing U.S. sports betting and iGaming market
News provided by
Share this article
Share this article
LAS VEGAS, April 28, 2021 /PRNewswire/ MGM Resorts International (NYSE: MGM) ( MGM Resorts or the Company ) today reported financial results for the quarter ended March 31, 2021. We are pleased with the meaningful progress we ve made on multiple fronts this quarter, said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. Consumer demand strengthened at our domestic properties, and the significant changes we ve made to our operating model have positioned us to capitalize on the recovery. Our regional properties achieved record first quarter Adjust
ClydeFEST Kicks Off A Season Of Fun In Chatham County
Siler City’s “Spring Chicken Day,” scheduled for May 1, was felled, for the second year in a row, by COVID-19. The year-long celebration of Chatham County’s 250th anniversary began with a muted, socially-distanced “Founding Day” on Saturday. Shakori Hills’ signature spring event has been postponed.
As North Carolina begins to “open up” after a long pandemic year, organizers of festivals and events in Chatham County are figuring out ways to celebrate and get people together in a safe and logical method. One of the major events on the local spring calendar, for example, is ClydeFEST. It’s still happening, but in a COVID-safe way in lieu of the usual 2,500-person gathering, says April Starling of the Chatham Arts Council.
Valuation Increases For 77% Of Chatham County’s Parcels, Combined Value Of All Properties Goes Up 18%
More than three-fourths of the nearly 46,000 Chatham properties assessed in the county’s state-mandated reappraisal process saw valuations increase, but so far officials say requests for appeals of those valuations has been “underwhelming.”
Meanwhile, Chatham County’s tax office is manning the phones and checking email to assuage concerns and fight misinformation arising from the revaluation notices, which were mailed out on March 26.
The total overall valuation of parcels in Chatham County, when finalized, may show an increase by as much as 18%, according to Tax Administrator Jenny Williams, with 77% of parcels having gone up in value and 23% having gone down.