Wynn's combined Macau EBITDAR grew 10.9% to $279.4 million, but that headline hides a 16.2% decline at the older property while Wynn Palace surged 25.9%. The divergence tells you everything about where luxury gaming margin actually lives now.
MGM is bundling rooms, meals, shows, and parking at Luxor and Excalibur for $165 per night all-in, while the Plaza is at $104 per person. The per-night economics tell a very different story than the press release.
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