In the same quarter one year ago, the company had a net income of $131 million, $2.77 a share, on revenue of $3.1 billion. PRINCIPAL DUTIES AND RESPONSIBILITIES: Determine and evaluate customers' casino activity to provide corresponding incentives and has the authorization to approve a limited amount of comps and allowances (rooms, food, beverage, events tickets, promo. The Las Vegas-based giant reported a net income of $284 million, a loss of $1.53 per share, on revenue of $3.6 billion for Q4. Officials said that a steady return of convention business, domestic leisure travel and encouraging results during the Lunar New Year at MGM China are set to drive “strong momentum” into the new year.
GOLD STRIKE TUNICA JOBS FULL
Net revenues for Q4 increased by 18% to $3.6 billion, while net revenues for the whole year amounted to $13.1 billion, an increase of 36% over the full year 2021. Rent under the lease will escalate annually by 2.0%Įarlier this month, MGM reported financial results for the fourth quarter and the full year of 2022. Initial total annual rent under the lease is $40 million and the lease has an initial term of 25 years, with three 10-year tenant renewal options. VICI has also now entered into a triple-net lease agreement with CNB with respect to the real property associated with Gold Strike. Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts. The Company expects net cash proceeds after taxes and estimated fees to be approximately $350 million. At the closing of the transaction, MGM Resorts' master lease with VICI Properties, which currently includes the Gold Strike property, will be amended to reduce the annual rent by $40 million to account for the company's sale of the operations of Gold Strike. Jonathan Halkyard, CFO & Treasurer of MGM Resorts International, added: “We plan to use the proceeds from this transaction to further fortify our balance sheet, deploy capital to growth opportunities, and return capital to shareholders.”įor the year ended December 31, 2022, Gold Strike reported net income of $47 million and EBITDAR of $98 million. Jungle King video slot is a game that looks good and has some potentially rewarding bonus features, with the pick a fruit game and its guarantee of a win. It opened in 1994 and was acquired by MGM Resorts in 2005, the year that Hurricane Katrina struck. I wish Gold Strike well, and firmly believe a bright future is ahead for this property.” Gold Strike is 32 stories tall and is one of the most recognizable buildings in Tunica. Welcome guests to the property and the MGM Resorts family by providing memorable service, anticipating guest needs and responding to and resolving any guest complaints in alignment with S.H.O.W.US casino giant MGM Resorts International announced Wednesday it has closed on the sale of the operations of Gold Strike Tunica to CNE Gaming Holdings, a subsidiary of Cherokee Nation Businesses, for $450 million in cash.īill Hornbuckle, CEO & President of MGM, commented: “Gold Strike is an iconic property in Mississippi, and the employees there represent southern hospitality at its finest. As a Front Desk Representative, you will welcome our guests, and by understanding their unique stories and needs, you will own the experience to create WOW moments and memories they will carry with them far beyond their stay with us.
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