XS Makes $41 Mill in Four Nights

[Guest]

Interesting post I found on TA about how much dough XS rolls in. How many of you guys are going to be contributing to the cause on LDW?

http://seekingalpha.com/article/1530...nscript?page=9

The late shows in Las Vegas have been impacted by the nightclub scene. Las Vegas at the moment is the center of the nightclub universe. Harvey Nash travel magazine said the hottest club on earth is XS at Wynn. I’m delighted that they said it. Just in four nights last year, in four nights did $41 million, open from 10 till 4 in the morning with a 70% profit margin.

Bill Lerner - Union Gaming Group

Four nights a week so?

Steve Wynn

Four days a week, excuse me Thursday, Friday, Saturday and Sunday, $41 million. What an incredible thing that is. I think we made $28 million before we made Victor Drai, my god that is as good as Siegfried and Roy were. Working six nights a week. I mean it is amazing, but those things change and we have to be agile. That is why I worry about my workforce being agile. So that is what is going on Bill, things are changing.

[Keebler]

Holy wow....

[Guest]

Holy wow....

Yea i need to quit software engineering and be a professional partier in Vegas

[SurfersideB]

How much does a good host expect to take in a good night.
same questions for
bar staff
waiters
doorman

[dnix]

Sounds exagerated for marketing to me

[Cisco419]

That's chump change! Ask Dnix, he made that over this last weekend! Why do you think he's "thinkin" about hitting Vegas with us lol

[Guest]

Nice! Well if I made the huge bucks, I'd hit up LV all the time. Get flown in

[Mr.Vegas]

Wow that's some change! They will pay back the loan in no time!!! With the prices they charge for entrance and alchy sales, I can see how they can make some good money esp. during a holiday weekend.

[dnix]

whats capacity at XS? lets say its 10,000. that means each per spent an avg. of $1000+. I just dont see it. that could be with the clients that have table service, but what about the other half of the clients that are on bar tabs? Ive seen tabs that high at the bar, but not for ONE person.

Their capacity must be around 30-40K

[Mr.Vegas]

whats capacity at XS? lets say its 10,000. that means each per spent an avg. of $1000+. I just dont see it. that could be with the clients that have table service, but what about the other half of the clients that are on bar tabs? Ive seen tabs that high at the bar, but not for ONE person.

Their capacity must be around 30-40K

Good mathematical assumption ... bar tabs on average probably hit around $300? Assuming that's true, the tables would have to spend an obscene amount but could be given that they wanted me to do 10K min at XS for a table originally.

[Andrew@LasVegasNightclubs]

Hmmmmm....I'm doing the math in my head trying to give that article every benefit of doubt imaginable.......and I think its way off. This might be like them claiming the club was $120 Million to build, when the only way thats possible is if they are counting the adjoining hotel pool. haha.

Tao, the number one revenue producing nightclub and restaurant on the planet in 2007 and 2008, pulled in $70 Million throughout the whole year (including the restaurant). And that amount hadn't been done before, ever.

So if you were to think XS even had 10 of the biggest whale spenders ever there for four nights in a row (which would be almost impossible), and the most I've ever heard of in one night was 2 of them spending like $175k each on obnoxious amounts (150 bottles+) of champagne in a competition, its still impossible for them to come close to $41 Million in 4 nights.

Edit: I think Wynn is full of it. I wanna see receipts. haha

[dnix]

receipts? the post your bill thread would be outta control. lol glad to hear you think that too. I was really racking my brain trying to figure out how it was possible.

[ERich]

something has been misinterpreted in that article.. or misinterpreted by the editor. XS grossing $41mm in 4 nights of operation is insanely ludicrous... Tao Las Vegas is the highest grossing restaurant in the US with about $68mm in 2008 (they include both restaurant and nightclub operations in that number). The 2nd highest grossing restaurant in LV is Joe's in Caesar's forums at "only" $20mm in 2008.

[Guest]

Do you guys think it could be the New Years Eve events is what put them over the top? 41Mill is insane for a club to make in 4 nights.. I agree with that...

[P-tr-ck]

The way I understand the article is that XS made 42 million in the whole year with only 4 nights operating per week. (so Steve Wynn assumes it could've even be more if they were open 7 days a week)

But I'm from germany, so I could be wrong :-)