Avid Trader Official Blog: Evening Market Update

The company said casino revenue decreased 3% y/y and hotel room revenue decreased 5% y/y, with revenue per available room (REVPAR) declining 2% as Las Vegas Strip occupancy declined. Looking ahead, the company said it is encouraged in early 2011 by the level of business activity it is seeing and its forward booking pace is currently ahead of last year, led by a stronger convention mix, which it believes will position the company to have a better year than last. ...