LAS VEGAS (KTNV) — The baby boomers are back.
That was part of the message during an MGM Resorts International quarterly earnings conference call this week.
During the call, where the company reported record earnings for Strip properties, MGM Chief Financial Officer Jonathan Halkyard said the 65+ segment of MGM's customer base in Las Vegas has grown for several consecutive quarters.
"It's a nice trend," Halkyard said. "Their trips (are) just steadily increasing each quarter for the last three or four quarters."
The rebound of the senior segment helped MGM to a first quarter — the three months from January through March — that saw a 41% year-over-year earnings increase for its Las Vegas properties.
On the earnings call, Bill Hornbuckle said it was arguably the company's best quarterly performance ever.
The news was also positive for Caesars Entertainment, which revealed first quarter earnings results Tuesday.
The company posted revenues of over $2.8 billion, which beat analyst expectations.
Caesars officials said its Strip hotels had a 95% occupancy rate from Jan. 1 through the end of March.
"We're all doing well here," Caesars CEO Tom Reeg said about the financial health of Strip resorts.
RELATED LINK: Valley gaming wins continue to go up
Nationwide, commercial gaming establishments had their best February ever earlier this year, according to the American Gaming Association.
Gaming operators that month took in over $5.1 billion in revenues that month, which was up 15% when compared to February 2022.
