Wynn's Las Vegas operations threw off $232 million in property EBITDAR last quarter on $662 million in revenue, and the company's net income jumped 66% year over year. The question worth asking isn't how they did it... it's what happens when everyone else tries to copy the formula without the infrastructure to deliver.
MGM Grand's buffet survived 33 years, a pandemic, and the slow erosion of everything that made it worth running. The real question isn't why they're closing it... it's what the 15,000 square feet of prime Strip real estate becomes next, and what that tells you about where casino F&B is actually headed.
Nearly half of Sands China's 28,000 employees have stayed a decade or longer, and the company is celebrating with awards and press releases. The real number worth examining is what that retention actually costs per employee and whether it's a competitive advantage or a concession compliance line item.
