Unbelievable - Las Vegas McCarran Passenger Traffic DOWN Year over Year (MGM)

Clark County Department of Aviation reports April passenger traffic into McCarran down 5% year over year, even steeper than the 3.9% decline in the year-to-date total, indicating that the decline is steepening into the second quarter.

Where is the recovery? What are the casino bulls thinking?

Here's my earlier post on MGM Mirage (MGM) first quarter earnings. I think these guys are a disaster - high leverage, they have two bond maturities coming up: the Sept 2010 notes totaling $781 million and the Feb 2011 totaling $400 million.