MGM Resorts continues to expand, targets new facility in Las Vegas
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MGM Resorts International is considering a new facility on the Las Vegas Strip.
MGM Resorts International is a hospitality and entertainment corporation that owns and operates destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland and New Jersey. It owns Mandalay Bay, Luxor, Excalibur, New York-New York, Park MGM, and MGM Grand. The business acquired Empire City Casino in Yonkers, NY in January 2019 and opened MGM National Harbor and Springfield in Massachusetts. In September, it paid Blackstone Group $1.6 billion to acquire the upscale casino and hotel’s operating rights.
MGM Resorts is considering developing a new facility in Las Vegas. The company owns the majority of MGM Growth Properties. Omicron virus poses a threat to global economies. Nevada casinos have exceeded $1 billion in monthly gross gaming revenue in each of the last eight months. The over-65 population has not returned to Southern Nevada or MGM’s regional casinos. Las Nevada has reported casino winnings over $1000 in five of last six months, including Las Las Vites. Vegas Vigor is causing uncertainty. However, MGM executives are confident about Las.
