MGM contemplates another Strip property

MGM contemplates another Strip property

Published: December 9, 2021

MGM Resorts International could potentially build another resort-casino to the south end of the Strip. The company is currently developing a strategy to bring more players from the region to Las Vegas.

The company already acquired Cosmopolitan in September. Given that Allegiant Stadium and T-Mobile Arena are in the corridor, the Strip’s energy has shifted in that direction. The officials know the company has a chance for further development in the area.

The enterprise reckons the shareholders would consider the move, for they know a good opportunity when they see one. There are seven acres, which is the entire footprint of the Cosmopolitan, in front of the Excalibur.

There is a chance for a significant development there, and the enterprise won’t miss it, should the shareholders concur. There is also an initiative to improve connectivity, for it is not easy for pedestrians to access the MGM Grand.

Whatever problems may occur, the industry is still strong and resilient, with the bookings not stopping for 2022.

October strip gaming revenue grew by 30% compared to October 2019, while other states have experienced stable growth, too. However, under the new conditions, visits from the older population are not as frequent now.

The older audience is still an essential factor regarding regional market revenue. MGM still expects the older patrons to return in the following months, maintaining the balance in the market.

It wants its convention, group and meeting operations to continue to increase, looking to break some records by the end of 2022. The business is expanding by the year, with millions of people engaging with the brand daily.

The company is active in sixteen states with sports betting and five with iGaming, promising to expand the customer base significantly.

New York provides a fantastic opportunity for the company by potentially turning the Empire City Casino into a licensed, land-based venue with table games.

The officials are delighted with the possibility, stating that having a brick-and-mortar venue in the state would be tremendously attractive.

About MGM

MGM Resorts International has casinos and resorts at twenty-eight renowned destinations worldwide. They offer a perfect combination of luxury, high-quality, top-notch entertainment and phenomenal customer service.

Most of the facilities are in Las Vegas, but the company looks to expand its global presence. It offers plenty of magnificent opportunities for its guests to have a memorable experience.

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