SUN: Racing's media makeover paying off

[dalakhani]

Originally Posted by freddymo

Borgata is doing 40% less business then they used too. I am there 10 days a month save the weekends the place is becoming a bowling alley.

Freddy stop pulling numbers out of air. Net rev was 175 millon in the first quarter of 2010 compared to 187 million the first quarter of 2009. I think anyone that lives on the east coast could say that the 5% decline was weather related as this was a pretty harsh winter. In april, Borgata had a 2.4% year over year increase.

[freddymo]

Originally Posted by dalakhani

Freddy stop pulling numbers out of air. Net rev was 175 millon in the first quarter of 2010 compared to 187 million the first quarter of 2009. I think anyone that lives on the east coast could say that the 5% decline was weather related as this was a pretty harsh winter. In april, Borgata had a 2.4% year over year increase.

What was it 5 years ago?

Borgata: 1. Borgata had a terrific qtr. 2. The property continued to lead the Atlantic City market in revenues despite operating with 10% fewer slot machines and a closed player lounge for half of the qtr. as they prepare for the public space expansion that opens around the end of June. 3. The property's EBITDA was $65.3m, an increase of 15% over 1Q05. 1. This was the property's second highest ever behind only last summer's record qtr. 2. The first record best EBITDA occurred in Jan. through March, winter when nobody has posted [big] numbers like that. 4. Borgata's EBITDA margin was nearly 35% in 1Q06 with 54% of the revenue increase from the prior year coming to the EBITDA line.

These days are LONG GONE BRO

[dalakhani]

Originally Posted by freddymo

What was it 5 years ago?

Borgata: 1. Borgata had a terrific qtr. 2. The property continued to lead the Atlantic City market in revenues despite operating with 10% fewer slot machines and a closed player lounge for half of the qtr. as they prepare for the public space expansion that opens around the end of June. 3. The property's EBITDA was $65.3m, an increase of 15% over 1Q05. 1. This was the property's second highest ever behind only last summer's record qtr. 2. The first record best EBITDA occurred in Jan. through March, winter when nobody has posted [big] numbers like that. 4. Borgata's EBITDA margin was nearly 35% in 1Q06 with 54% of the revenue increase from the prior year coming to the EBITDA line.

These days are LONG GONE BRO

Thats every business in the US with few exceptions. You are comparing a completely different economic climate.

I am not comparing Borgata 2010 to Borgata 2005. I am comparing Borgata to any other casino in AC. Why has it thrived, and by "thrive" I mean continue to turn a healthy profit, while the others have failed?

[Cannon Shell]

Originally Posted by dalakhani

Freddy stop pulling numbers out of air. Net rev was 175 millon in the first quarter of 2010 compared to 187 million the first quarter of 2009. I think anyone that lives on the east coast could say that the 5% decline was weather related as this was a pretty harsh winter. In april, Borgata had a 2.4% year over year increase.

I know nothing but wasnt last years first quarter a worse economic period in general? What are the numbers against two years ago?

[freddymo]

Originally Posted by Cannon Shell

I know nothing but wasnt last years first quarter a worse economic period in general? What are the numbers against two years ago?

They are doing OK and only Harrahs next door and th Borgata have any business.. They give rooms away 4 years ago they were 400 a night on a friday in Feb.. Now if you give then 250 bucks of slot play twice a month you get a free room in two seconds.

[dalakhani]

Originally Posted by freddymo

They are doing OK and only Harrahs next door and th Borgata have any business.. They give rooms away 4 years ago they were 400 a night on a friday in Feb.. Now if you give then 250 bucks of slot play twice a month you get a free room in two seconds.

No doubt. Every casino has seen a downturn. But they still TURN A PROFIT while most everyone else in the same sector has been hemmoraging money.