The Opening Date of the Excalibur Has Just Been Revealed

Some of the most impressive hotel-casinos in the world are located directly on the Las Vegas Strip. There are still some fantastic budget options for visitors looking to stay for cheap. On that note, the opening date of the Excalibur has just been announced.Excalibur Hotel Casino

This hotel-casino is one of the least-expensive ones on the Strip. It’s not the flashiest venue in the city, yet it offers guests everything they need for a great vacation. Today, we’re going to look at what this property will look like once it opens back up.

Let’s get into it!

The Excalibur Hotel-Casino Remains One of the Most Popular Venues in Las Vegas

By looking at it, you might think that the Excalibur was built back in the 1960s. Many are surprised to find that this massive hotel-casino actually opened to the public in 1990. That makes it fairly new when compared to some of the other properties in this city.

The Excalibur has always been a popular choice for visitors looking to save some money on their Vegas trip. It’s not particularly flashy. In fact, many reviews made in recent years criticize this venue for its lack of renovations.

There’s some validity to these statements. Unlike many of the other properties here, The Excalibur has gone through very few major renovations over the years. It’s one of MGM Resorts’ lowest-earning venues and it seems they are uninterested in doing a major overhaul here.

Back in March, this venue was forced to close its doors to the public. It was disappointing news for many visitors here. This wasn’t unique to the Excalibur, though. Every hotel-casino in the city closed its doors in March.

Several of the biggest properties on the Las Vegas Strip finally reopened on June 4th. Unsurprisingly, this brought a huge surge of tourists into the city. New reports indicate the Excalibur will open its doors in just a few days.

Here’s An Update On the Opening Date of the Excalibur!

Officials in Las Vegas are doing everything they can to get the city back to normal. For months, tourism here was at an all-time low. Gambling revenue was almost non-existent and a huge number of residents here were left without work.

Tourism is starting to increase here once again. As we just mentioned, many venues here including The Bellagio, New York-New York, and The Venetian opened their doors on June 4th. Most visitors claimed they enjoyed their trip, despite some of the new safety measures set in place here.

According to new reports, the opening date of the Excalibur is June 11th. Bill Hornbuckle, President and CEO of MGM Resorts, spoke about this situation to the media this week.

“We are very pleased by the enthusiasm we are seeing from guests ready to come back to Las Vegas,” he said. “As business demand increases, we are able to open additional properties and bring more of our employees back to work.”

Many of the same measures set in the already-opened Las Vegas hotel-casinos will be set in The Excalibur. Company officials want to ensure that things are as safe as possible here. Reservations can already be made.

Soon, most states in the country will allow their casinos to reopen.

Atlantic City Casinos Expected to Open By July 4th

It’s been great seeing Las Vegas return to normal. This city relies on its tourism and gambling revenue and finally, these are starting to increase again. Many are now looking at Atlantic City, one of the other top gambling destinations in the country.

New Jersey Governor Phil Murphy recently spoke to the media about reopening the state’s casino industry. He seems to recognize how important this is. Murphy recently announced that Atlantic City casinos should be allowed to reopen by July 4th.

It’s great news for the state. New Jersey was one of the worst-affected states in the country from the new coronavirus. Fortunately, infection rates have been on the decline here for the past few weeks.

Just a few days ago, reports came out about what these venues will look like once they reopen. Social distancing measures will be set in place here. Some of the same things found in Las Vegas casinos such as plexiglass separators at table games will be set here.

The entire US casino industry is slowly getting back on track. Many states are starting to allow their gambling venues to open back up. Make sure to stay tuned for updates on how things go in Las Vegas over the next few weeks.

Are you excited to hear about the opening date of the Excalibur? Do you plan on staying in this venue? Let us know in the comments section below!

Sisolak Approves LV Casinos to Open on June 4th

Las Vegas is just a little over a week from getting back to some sense of normalcy. Earlier this week, Nevada Governor Steve Sisolak approved plans to reopen many of the state’s major casinos. The current plan is for LV casinos to open on June 4th.

Governor Sisolak

Just about everyone in Nevada is anxious to see these gambling venues reopen. As most know, they provide a huge amount of money and jobs to the state. Today, we’re going to discuss which venues plan to reopen, and what this means for Nevada’s economy.

Let’s get into it!

Reopening the Casinos in Nevada Hasn’t Been Easy

Every state in the country has been economically affected by the new coronavirus spreading around the world. Some, obviously, are being hit harder than others. There are some that feel Nevada is being the worst-affected in terms of direct money and job loss.

Casinos in this state were forced to close down back in March. This instantly left hundreds of thousands of individuals without work. Many of the casino companies here also began losing millions of dollars each week.

Nevada’s tourism industry immediately came to a halt. That proved to be devastating for many of the restaurants in this city that rely on outside visitors. It’s easy to see how so many businesses started to suffer due to the shutdown of major casino-resorts.

Carolyn Goodman, the mayor of Las Vegas, controversially called for the city to start opening up weeks ago. Governor Sisolak didn’t budge, and continued to tell the media it was too early. Residents around the city eagerly awaited news on what was to come.

Now, it appears state officials feel things are safe enough to finally open back up. Many of the biggest casino-resorts are expected to open their doors next week. Here’s what we know about this situation.

Governor Sisolak Gives Green Light For LV Casinos to Open

Forcing all of the casinos in Las Vegas to close was completely unprecedented. Never before has this taken place in this city. It’s likely that most felt doing so would be impossible. For the past couple of months, the focus has been on getting back to normal.

Governor Sisolak has been cautious in allowing the state’s casinos to start accepting guests again. That’s perfectly understandable, as these venues are easy places for a contagious respiratory virus to spread. Sisolak seems content with the safety measures set in place and has given the green light for LV casinos to open their doors on June 4th.

Josh Swissman, one of the founders of The Strategy Organization, believes that opening back up will be a learning process for many of the casino companies here.

“Once their doors re-open on the 4th, operators are going to learn so much from those critical first few hours and days,” he said. “There will undoubtedly be tweaks and fine-tuning made to their re-opening procedures as a result of what they will see. Marketers should be watching visitation volume and guest behavior closely, and should look to pivot quickly if changes to their marketing plans need to be made.”

Not all of the casinos in Las Vegas are going to open back up at once. It will be a slow process and companies will look to slowly figure out what works and what doesn’t. The important thing will be to encourage social distancing on the casino floor.

Which Las Vegas Casinos Will Open Up Next Month?

The casino industry in Las Vegas is the biggest in the country. More than 40 million people flock to this city every year to enjoy the entertainment and gambling options available. With Sisolak’s approval for LV casinos to open next month, many of the major casino companies are gearing up to start accepting guests.

Caesars Palace and The Flamingo are scheduled to be the first casino-resorts to reopen. These venues will be accepting guests starting on June 4th. These venues will offer free parking and plan to open many of their restaurants, pools, and casino options.

MGM Resorts International claims that New York-New York and The Bellagio will be their first properties to reopen. A specific opening date for these venues has not been officially revealed.

Wynn Resorts has just recently announced that both of its Las Vegas properties will reopen to the public on June 4th.

“We are ready to provide our guests with a full Las Vegas experience with a collection of luxury amenities and unmatched service,” Wynn Resorts CEO Matt Maddox told the media. “The entire Wynn team is looking forward to welcoming our guests back.”

If all goes according to plan, all of the casinos in Nevada will start accepting guests next month. Hope is that enough tourists begin flocking to Las Vegas to keep these properties profitable.

Stay tuned for more Las Vegas casino news over the next few weeks!

Is Now the Perfect Time to Make Las Vegas Travel Plans?

For the past two months, tourism into Las Vegas has been almost non-existent. As time goes on and casinos begin opening back up, many expect visitors to start flocking to this city. This week, several experts revealed that now might be the perfect time to make Las Vegas travel plans.Welcome Sign In Las Vegas

Prices in this city are expected to drop considerably. It may be the most affordable time to visit in recent memory. Today, we’re going to discuss what deals may become available over the next few months.

Let’s get into it!

Gambling Revenue in Las Vegas Continues to Fall

Just a few months ago, the idea of shutting down Las Vegas was incomprehensible. This city draws more than 40 million visitors every single year and generates an incredible amount of money for the state of Nevada. The gambling industry in Las Vegas alone employs hundreds of thousands of people.

In March, Governor Steve Sisolak announced that all non-essential businesses were being forced to close down. That includes casinos. It was an important decision, as rates of Covid-19 were beginning to appear in Clark County.

Closing down the casinos is having some major consequences, though. As we just mentioned, many people are directly employed by these casino companies. Nevada’s gambling industry is also responsible for drawing in tourism.

Revenue in Las Vegas has plummeted over the past two months. In March, revenue in the state fell by 39.6%. Things were even worse on the Las Vegas Strip, where revenue fell by an incredible 45.7%.

All experts feel that revenue in April will be considerably lower than it was in March. Casinos in the state were closed down for that entire month. Many state leaders recognize that things need to change if Las Vegas wants to survive as a city.

Fortunately, it appears that casinos may be preparing to reopen. Many now believe that this is the perfect time to start booking your travel to Sin City.

Experts Feel Now is the Time to Make Las Vegas Travel Plans

Things are still far from being normal in Las Vegas. Based on the way things are moving, though, it seems that many businesses will be allowed to open here in June. It’s for that reason that some are advising people to start booking their travel.

Earlier this week, Allegiant Airlines started offering up to 25% off their routes. Several of the top casino companies in the city also began offering major deals last month. Some experts believe more of these deals will start to emerge as summer draws closer.

Gabe Saglie spoke to the Las Vegas Review-Journal this week and claims Las Vegas will be very cheap to visit this summer.

“Post-COVID travel, I think, will be pretty inexpensive because of this desire to incentivize travelers to hit the road,” he said. “We’ll see some great rates at hotels; we’ll see airfare sales. You’re seeing an amazing amount of hotel prices well under $100 or $50 a night. The industry is just now starting to put ad dollars behind promoting this stuff. … I think you’ll see a more concentrated push (in the weeks to come), and those deals will become much more visible.”

That has to be exciting news for some people around the country. Not long ago, several analysts predicted that tourism would start to surge in this city once casinos reopen. That seems more likely if prices become more affordable.

Many feel that casinos are just a few weeks away from opening to the public. Here’s what we know about this situation.

Casinos in Las Vegas May Reopen in June

Just about everyone wants to see casinos reopened in Las Vegas. Most people also recognize that these venues are easy places for the coronavirus to spread. Officials around Nevada are doing everything they can to get casinos up and running in the safest way possible.

Not long ago, Nevada’s Gaming Commission approved a set of guidelines to safely reopen casinos. There are many measures being set in place to avoid major infection surges. That includes hand sanitizing stations on the casino floor, social distancing measures, and requiring face masks.

It’s beginning to look more likely that casinos will be allowed to reopen their doors in June. Several of the top casino operators in Las Vegas are preparing to open some of their casinos. MGM Resorts claims it will most likely open the New York-New York Hotel & Casino, and The Bellagio Casino-Resort first.

Of course, everything depends on Nevada’s fight against Covid-19. If a massive spike in cases is recorded here, things will be delayed. In the meantime, some of the country’s top travel experts are advising that people begin to make Las Vegas travel plans. Things may be cheaper now than ever before.

Next month will tell a lot about the future of this city. There’s a chance we’ll see tourism here start to boom again. This will be a welcome relief for many workers here.

Are you planning to make Las Vegas travel plans anytime soon? Let us know in the comments section below!

MGM Resorts Delays Move into Japan Due to Coronavirus

In 2018, lawmakers in Japan officially approved a bill to allow three casino-resorts to open in the country. As a result, almost all major casino companies in the United States are trying to break into the Japanese casino industry. According to new reports, MGM Resorts is now delaying its move into the city of Osaka.MGM Resorts Logo

It’s been a long road to start building casinos in this country. With the spread of Covid-19, things have gotten even worse. Today, we’re going to look at why exactly MGM is choosing to stay out of Japan right now.

Let’s get into it!

Japan Continues to Work On Casino Regulations

For many years, Japan had very strict gambling laws set in place that prohibited all casinos. In fact, the laws here banned almost all traditional forms of gambling. In mid-2018, things took a major turn in this country.

That year, lawmakers in Japan decided to legalize casino-resorts. The government announced it would allow three gambling venues to start operating in three different cities. As of now, it looks like Tokyo, Osaka, and Yokohama are the most-likely cities to open casinos.

It was unclear when the first gambling venue would open in Japan. Lawmakers in the country wanted to ensure that issues like gambling addiction and crime were avoided. Since passing the bill, government officials have been working to come up with specific regulations for the country’s casino industry.

Back in December, news broke that Japan was studying the Las Vegas casino model for guidance. It makes sense, as Las Vegas is home to many of the biggest and most successful casinos in the world. This process is still taking place.

Most analysts predict that it will be years before the first casino-resort in the city opens up. Due to the spread of Covid-19, things may be pushed back even further. It now appears that one of the biggest casino companies in the US is postponing its move into the country.

MGM Resorts Offers New Timetable for Osaka Casino

MGM Resorts International is one of the largest casino companies in the world. It operates several major casino-resorts in Las Vegas and has been pushing hard to gain a casino license in Japan. This company has not been granted an official license to run a casino-resort in Osaka yet almost all experts agree that it will eventually be granted the license.

Unfortunately, it may take longer to open a gambling venue in this city than initially expected. City officials have scrapped plans to open the casino-resort by 2025. Now, it appears that MGM plans to build a casino here in 2026.

Ed Bowers, CEO of MGM Resorts Japan LLC, claims that the spread of Covid-19 is not affecting plans to open a casino in Osaka.

“MGM will continue to proceed with our efforts to create a proposal that will be appreciated by the entire Osaka community, taking into account the schedule announced by the government,” he said.

The new coronavirus is already taking a massive toll on the land-based casino industry around the world. In the US, all casinos are now shut down. This is costing many US casino companies millions of dollars every single day.

Other countries in Asia are just beginning to open their casino industries, yet it does not appear they’re bringing in much revenue.

Macau Casinos Struggle to Bring in Players

China was the first country hit by the novel coronavirus now spreading around the world. Within weeks, officials decided to close down all of the casinos in Macau. This was devastating to the local economy, which relies almost entirely on tourism and gambling revenue.

The closure of these Macau casinos also impacted many US casino operators. This includes the aforementioned MGM Resorts International. Just recently, officials in Macau decided to reopen all of the casino-resorts in the city.

Unfortunately, these casinos are having an extremely difficult time generating revenue. There are still heavy restrictions set in place in Macau. Very few gamblers are now flocking to this city and some casinos are in danger of failing.

In time, however, Macau may prove to be the saving grace for some US casino companies. As we’ve already mentioned, all land-based casinos in the United States are now shut down. Many with property in Macau are now relying on the city to help make up for the revenue they are losing in America.

MGM Resorts doesn’t expect to open its Osaka casino anytime soon. At the moment, this company is likely focused on surviving while its US properties are shut down.

Stay tuned for more casino news over the next few months!

Here’s What We Know About the MGM Resorts Hack

Yesterday, news broke that MGM Resorts was hacked last summer. According to reports, more than 10 million individuals had their personal information posted online. Today, we’re going to explain what we know about the MGM Resorts hack so far.MGM Resorts Logo

Many were unaware that this hack even took place. It’s likely that many individuals had their information posted and didn’t know about it. Before we get into the details of this hack, we’ll look at some of MGM’s recent company changes.

Let’s get into it!

Jim Murren Officially Steps Down As CEO of MGM Resorts

Since the 90s, MGM Resorts has been run by Jim Murren. During his tenure with the company, Murren has helped to significantly expand and improve this property. Recently, he announced that he’s stepping down as CEO of the company.

Murren’s contract was set to expire soon. It appears he’s ready to call it a day just a little earlier than expected. Now, officials within MGM Resorts are working to find a suitable replacement. As of now, it’s still unclear who will step into the CEO role.

Many are sad to see Jim Murren leave. He’s been a huge part of the company for years and is widely credited for helping to save the company during the financial crisis of 2008-2009. He’s also responsible for some of the company’s major Las Vegas casino-resort sales over the past few years.

His departure comes at an interesting time. MGM Resorts is currently dealing with several things at once. For weeks, it’s been forced to deal with issues in Macau. Fortunately, that situation seems to be improving.

News reports now claim that the company was hacked last year. It’s the last thing MGM Resorts needed right now. Here’s what we know about this hack.

MGM Resorts Hack Affects 10.6 Million Individuals

MGM Resorts International is one of the biggest casino companies in the world. It’s based in Las Vegas and owns many of the world’s most profitable gaming venues. This company also offers M Life Rewards, one of the most popular casino loyalty programs in the country.

Unfortunately, even MGM isn’t safe from hackers. According to the website ZDNet, the information of 10.6 million individuals was posted online. The site eventually asked about the MGM Resorts hack to company officials, who offered this response.

“Last summer, we discovered unauthorized access to a cloud server that contained a limited amount of information for certain previous guests of MGM Resorts,” MGM said. “We are confident that no financial, payment card or password data was involved in this matter.”

The personal information on millions of tourists, which include government officials, tech CEOs, and reporters was posted to a popular hacking website. The information posted includes full names, home addresses, and phone numbers. MGM Resorts claims the informed the affected individuals last year.

The exact identity of this hacker is still unknown. Reports indicate that they are a part of GnosticPlayers, a hacking group that’s illegally claimed more than a billion personal records over the past few years. We’ll need to wait and see if any individuals affected by the MGM Resorts hack decide to take legal action in any way.

MGM Resorts’ Operations in Massachusetts Finally Improve

As we already mentioned, MGM Resorts is going through a lot right now. This includes the aforementioned departure of Jim Murren. For years, this company has also been working to bring in new gamblers to the MGM Springfield property in Massachusetts.

Lawmakers in Massachusetts decided to allow land-based casinos in the state back in 2011. The first casino to open here was the MGM Springfield. Initially, analysts predicted that this would be one of the most successful new casinos in the country.

Unfortunately, this has not been the case. Since opening in 2018, MGM Springfield has struggled to generate revenue. Things got even worse once the Encore Boston Harbor casino-resort opened to the public last year.

Fortunately, things seem to be finally improving here. Last month, gambling revenue increased here considerably. Interestingly, Encore Boston Harbor’s revenue dropped. Company officials hope this trend continues.

The MGM Resorts hack is very unfortunate. We’re likely to hear more about this over the next few months. Stay tuned for updates!

Revenue at MGM Springfield Jumped in January

Massachusetts’ casino industry continues to change. After months of disappointing results, it appears revenue at MGM Springfield is finally increasing. It’s fantastic news for the owners of this venue, who have invested millions of dollars to bring in more players.Revenue Increase Figure

Today, we’re going to discuss the history of the MGM Springfield Casino. We’ll also look at what this recent spike means for the property moving forward.

Let’s get into it!

MGM Springfield Has Been a Major Disappointment

Since 2011, Massachusetts has given three casinos permission to operate in the state. The first gambling venue to open here was MGM Springfield. MGM Resorts International built this property, which many believed would be extremely lucrative.

It was widely believed that Massachusetts would become one of the country’s next major gambling hubs. A huge number of individuals here make trips to Atlantic City in order to gamble inside casinos. With local casinos, this would no longer be necessary.

At first, MGM Springfield proved to be successful. As time went on, however, visitation here dropped. In June of 2019, Encore Boston Harbor opened up near Boston and captured a huge percentage of the state’s casino market.

Many gamblers who previously played inside MGM Springfield quickly made the switch to the Wynn Resorts-owned casino. As a result, revenue at MGM Springfield began to plummet. It seemed like just a matter of time before this casino was sold to the highest bidder.

That hasn’t been the case, though. Despite poor revenue figures, MGM Resorts continues to invest money here. Now, it appears that decision may be paying off.

Revenue at MGM Springfield Finally Increases

The fact that MGM Resorts continued to invest in their Massachusetts property was a little surprising. On the surface, it looked like this was a property that was bleeding money. Perhaps company officials saw something no else did.

Recent reports indicate that gambling revenue at this property officially increased in January. The casino’s gross gambling revenue was $20.6 million, compared to just $18.9 million in December. It’s not a massive increase, yet company officials have to be pleased.

Initial estimates predicted that revenue at MGM Springfield would be close to $34.8 million per month. Unfortunately, the most this property ever brought in during a single month was around $27 million. Overall, the casino brought in close to $252 million last year.

This wasn’t for a lack of trying, though. Back in early January, MGM Resorts decided to appoint a new president of this casino. Hope was that the change in leadership could help to turn things around. As of now, this strategy appears to be working.

MGM Springfield isn’t the only casino that experienced a revenue jump last month. Is this a sign that the state’s casino industry is in for a major change?

Plainridge Park Casino Revenue Jumps, Encore’s Drops

Right now, there are three different casinos operating in Massachusetts. As we mentioned earlier, the Encore Boston Harbor has proven to be the most successful of the three. That wasn’t the case in January, though.

Last month, the Plainridge Park Casino saw its gross gaming revenue increase by an astounding $876,913. This comes after seven straight months of revenue decreases. This venue managed to bring in around $11 million in January.

Encore Boston Harbor, however, saw its revenue drop. In January, this casino brought in $49 million. That’s down considerably from December’s $54 million. Wynn Resorts appears to be targeting more of a casual gambler demographic to help make up for these revenue drops.

The casino has also recently chosen to lower its minimum bet limit on several table games. Free parking is also beginning to be offered here. More strategies will be discussed during the company’s upcoming quarterly conference call.

Revenue at MGM Springfield officially jumped last month. Hopefully, this trend continues for the rest of the year.

Stay tuned for more Massachusetts casino news over the next few months!

MGM Springfield Continues to Disappoint

In August of 2018, MGM Springfield officially opened its doors to the public. Since that time, the Springfield, Massachusetts gambling venue has struggled to generate revenue. Officials within MGM Resorts International spoke about the low revenue figures to the media this week.MGM Springfield

This venue has been a major disappointment for one of the country’s biggest casino operators. Today, we’re going to talk about why this is. We’ll also discuss what steps MGM may take to change this downward trend.

Let’s get into it!

Massachusetts Proves to Be a Difficult Casino Market

For many years, lawmakers in Massachusetts banned all forms of casino gambling. In 2011, the state finally agreed to a set of laws that allows three new land-based casinos to open. In 2018, MGM Resorts International opened the state’s first gambling venue in the city of Springfield.

Expectations for this venue were high. Many considered Massachusetts to be one of the most lucrative new casino markets in the country. By the time MGM Springfield opened up, almost everyone agreed it would be extremely successful.

For a time, these theories were correct. MGM Springfield drew in many visitors early on and began generating serious revenue. As time went on, however, these earnings began to drop. One reason for this was the opening of Wynn Resorts’ Encore Boston Harbor casino-resort.

This new casino instantly captured a huge portion of the MA casino market. Many gamblers who previously gambled inside MGM Springfield began making the switch to the Encore. It was a tough break for MGM Resorts International, who didn’t anticipate their market to be taken over so quickly.

Despite the company’s best efforts, things don’t seem to be improving for MGM Resorts. A company official spoke about this disappointing performance to the media this week.

MGM Springfield Still Struggles to Generate Revenue

MGM Resorts International has been undergoing some massive changes in recent months. Last year, the company sold some of its biggest properties in Las Vegas. Just last week, CEO Jim Murren announced he’s stepping down.

There’s a lot to juggle here. Murren is continuing to run the company until a replacement is chosen. This week, Murren commented on the MGM Springfield property and doesn’t seem pleased with the venue’s performance.

“MGM Springfield has admittedly performed below our expectations, and we’ve recently made some changes there to better position the property,” he said. 

It’s surprising for some to hear that MGM continues to invest in this venue. Many expected the company to sell it and simply take the losses. That does not appear to be the case.

For now, MGM Resorts International wants to continue running its only Massachusetts property. With some changes, perhaps this venue can once again capture the state’s market.

Massachusetts isn’t the only area that MGM is continuing to invest in.

Macau May Soon Become Profitable Again For MGM Resorts

Macau is one of the world’s largest gaming markets. Many of the world’s top casino companies invest in property here, including MGM Resorts. Unfortunately, revenue from this territory has been dropping for more than a year.

Throughout 2019, tourism in Macau was down. The US-Chinese trade war had taken a toll on China’s economy, causing fewer nationals here to gamble. Macau relies on Chinese high rollers and as less began visiting here, revenue started to tumble.

Recently, the coronavirus has hurt this territory. As the 2019-nCoV virus spreads throughout China, less people are able to travel into Macau. Recently, officials in this territory decided to shut down all the casinos in order to prevent infections.

This casino shutdown is costing companies millions of dollars a day. It finally seems as if infection rates are beginning to even out and Macau may finally become a profitable casino market once again. Several investment groups have recommended people buy stock in MGM Resorts as the Macau situation improves.

2020 will be an important year for MGM Resorts. Hopefully, the company’s new CEO can be even more successful than Jim Murren.

Stay tuned for more casino news over the next few months!

MGM Resorts in Osaka Now Seems Highly Likely

In mid-2018, lawmakers in Japan shocked the world by passing a bill to legalize casino gambling. It was a huge change, as Japan previously banned virtually all forms of gambling. Since the bill was passed, every single major US casino company has pushed to obtain a casino license here. Now, it appears that MGM Resorts in Osaka is on the horizon.MGM Resorts Logo

New reports indicate that this company is the favorite to obtain a casino license in this city. It’s fantastic news for the Las Vegas-based gaming operator. Today, we’re going to talk about this company’s move into Japan.

Let’s get into it!

Japan Shaping Up to Be One of the World’s Biggest Casino Markets

For decades, Japan was considered one of the least-friendly gambling countries in the world. Government officials here banned just about all forms of gambling shortly after World War Two. Pachinko, a sort of slot-machine style game, is the only form of gambling allowed in this country.

This is beginning to change now. In 2018, officials here finally decided it was time to earn revenue from the gambling industry. The government approved a bill to legalize three casino-resorts in the country.

That doesn’t mean casinos became immediately available here. The government is taking its time coming up with a specific set of laws to regulate this new industry. Lawmakers are also working to decide which companies should be allowed to operate gambling venues in the country.

Analysts predict that Japan will quickly become one of the largest casino markets in the world. There are a huge number of individuals here that will gamble and casinos will help to bring in gambling tourists from many nearby countries. Unsurprisingly, just about every single major casino operator has pushed to obtain a casino license here.

This includes MGM Resorts International. This company has looked to operate a gambling venue in Osaka for years. Now, it appears that MGM Resorts in Osaka is becoming a reality.

MGM Resorts in Osaka Might be Just Around the Corner

Osaka is one of the biggest cities in Japan. It’s expected to be one of the three casinos chosen to host a casino-resort. MGM Resorts International has repeatedly stated that it wants to operate a venue here.

News is new coming out that MGM Resorts is the lead bidder to obtain a casino license in Osaka. The Las Vegas-based casino operator is teaming up with Japan’s Orix Corp to build and run this new property. MGM is willing to invest billions into a new casino-resort in Osaka.

MGM Resorts in Osaka is not a guarantee, though. For now, the company is only the lead bidder. The local government will officially decide on which company will receive a license this June.

It seems highly likely that MGM will be chosen, though. Not long ago, Wynn Resorts announced it was no longer interested in opening a gambling venue here. Las Vegas Sands and Melco Resorts & Entertainment have also withdrawn from this city.

Osaka is expected to be the first city that grants a casino license. A casino here would greatly expand MGM Resorts International’s portfolio.

That’s not the only interesting thing happening with this casino company.

Jim Murren’s Departure From MGM Drops Share Prices

Since 2008, Jim Murren has been the CEO of MGM Resorts International. During his tenure as company leader, he’s helped to significantly expand the company’s portfolio. He’s also credited with saving the company from bankruptcy during the recession of 2008 and 2009.

This week, Murren announced that he’s stepping down as CEO. His contract was set to expire soon, yet it appears he’s ready to call it a day a little early. The company is currently searching for a replacement. In the meantime, Murren is remaining as CEO.

Shortly after Murren’s announcement, MGM Resorts’ share prices began to plummet. After the markets closed on Wednesday, the company’s stock fell by 5.5%. Several analysts have questioned what the company’s next strategy will be.

It’s clear that overseas expansion is in the works. MGM Resorts in Osaka seems inevitable. There’s also a chance that this company begins pushing into new countries in Asia, as well.

MGM is likely to announce its new CEO over the next few weeks. There are plenty of options to choose from. Whoever steps into the position has some big shoes to fill.

Stay tuned for more news on MGM Resorts International over the next few weeks!

What Changes Will MGM Springfield’s New Leaders Make?

Back in 2018, MGM Resorts International opened a brand new casino-resort in Springfield, Massachusetts. This venue, called MGM Springfield, has struggled to generate revenue ever since. MGM Resorts has made some major changes over the years, and hope is that MGM Springfield’s new leaders are able to turn things around.

MGM Springfield

There’s a lot going on with MGM Resorts right now. This company is currently involved in several major deals around the country. Today, we’re going to look at what exactly is happening with MGM’s major property in Massachusetts.

Let’s get into it!

MGM’s MA Property has Been a Major Disappointment

For many years, lawmakers in Massachusetts were against the gambling industry. The state government made it extremely difficult for any gambling operators to run in this state. Even Native American tribes, which are able to operate casinos in almost every state, are finding it extremely hard to open casinos in MA.

In 2011, things began to change. That year, lawmakers here officially passed the Expanded Gaming Act, paving the way for three different commercial casinos to operate in the state. Since that time, two major casinos have opened.

As we already mentioned, MGM Resorts International opened MGM Springfield in 2018. The next year, Wynn Resorts officially opened the Encore Boston Harbor. Before MGM opened its gambling venue, Massachusetts was thought to be one of the most lucrative new casino markets in the country.

Things haven’t been running smoothly for this company, though. Since opening its doors to the public, this new property has struggled to attract new gamblers. The opening of the Encore Boston Harbor made things even worse. This venue has become the most popular casinos in the state, stealing many gamblers away from MGM Springfield.

Company officials desperately want to make a change. This week, they announced that the leadership of the Massachusetts gambling venue was changing.

MGM Springfield’s New Leaders Need to Make a Change

MGM Resorts International is one of the largest and most successful casino companies in the country. It owns a huge number of major properties around the world. For many analysts, it was a huge surprise to see this company’s gambling venue in MA struggle.

This week, company officials announced MGM Springfield’s new leaders. A decision was made to bring in new faces here. Mike Mathis has officially been removed as president of the casino-resort. Chris Kelley is now taking his place.

Mike Fenton, a City Councilor and member of the Casino Oversight Committee, talked about this change to the media this week.

“My first question was is there anything wrong, is there anything to be concerned about with the Springfield project, and the answer to both questions was no,” he said. “When they vote for the casino referendum, they wanted to see the south end…not just the casino, but outside the casino, revitalized. And that does not happen overnight but I continue to be very encouraged by the progress there.” 

For now, the city of Springfield will continue to receive money from MGM’s casino-resort. If things don’t improve here, however, this gambling venue may eventually be forced to close its doors.

Property Sales Continue in Las Vegas

The change in MGM Springfield’s new leaders is one of many announcements from MGM Resorts International. Over the past few months, the company has sold some of its biggest and most profitable gambling venues in Las Vegas. This includes the Bellagio, MGM Grand, and Mandalay Bay.

This all comes as part of a new cost-cutting strategy. MGM Resorts is focused heavily on expanding overseas right now. One of the main ways to achieve this goal is to earn money through casino-resort sales.

The Las Vegas sales aren’t exactly cut and dry, though. MGM Resorts is choosing to lease back many of the properties that it’s sold. The company is paying $245 million per year to retain control of the Bellagio, for example.

There’s a chance that MGM Resorts will choose to sell its casino-resort in Springfield. Before this happens, though, the company has chosen to switch up MGM Springfield’s new leaders. We’ll need to wait and see how this affects the property’s revenue earnings.

It’s an interesting time for MGM Resorts right now. Make sure to stay tuned for more news on the company over the next few months!

The Mandalay Bay Sale is Important For Several Reasons

Last week, news broke that MGM Resorts International had agreed to sell the MGM Grand and Mandalay Bay Casino-Resort. It wasn’t entirely surprising, as the company has been involved in several major sales over the past few months. The Mandalay Bay sale comes at an interesting time, though.

Mandalay Bay Las Vegas Casino Logo

A little over two years ago, this popular hotel-casino was the sight of the worst mass shooting in US history. Fortunately, the venue is moving past this tragedy. Today, we’re going to look at why exactly MGM Resorts decided to put this property up for sale.

Let’s get into it!

MGM Resorts Continues to Sell Major Las Vegas Properties

A decade ago, it was fairly uncommon for major US casino operators to sell any properties on the Las Vegas Strip. This area is home to many of the most lucrative gambling venues in the world and not many companies are willing to put them for sale. In recent years, however, these sales are becoming much more common.

This is especially true with MGM Resorts International. The Las Vegas-based casino company has sold some of its biggest venues over the past several months. It’s an interesting trend that other companies are taking notice of.

In October of 2019, MGM officially sold The Bellagio to the Blackstone Group for an astounding $4.2 billion. It was the largest sale in Las Vegas casino history. MGM Resorts is now leasing the property back for $245 million per year.

The company also sold Circus Circus, one of its worst-performing venues in Las Vegas. It went to Phil Ruffin, who plans to renovate the old hotel-casino. As we’ve already mentioned, MGM Resorts recently announced that several more venues are being let go.

Both Mandalay Bay and MGM Grand are being sold. Rumors have circulated over the sale of these venues for months.

Many are happy that the Mandalay Bay sale is officially taking place. It comes a little over two years since the horrific shooting that took place from inside this venue. It appears that things are finally back to normal at this southern-strip property.

The Mandalay Bay Sale is Officially Moving Forward

For MGM Resorts International, Mandalay Bay is one of the most important properties in Las Vegas. Since opening in 1999, its been a serious money-maker for the company. In the wake of the 2017 shooting, however, business slowed down considerably here.

MGM Resorts chose not to change the name of this venue. They worked to move through this tragedy, rather than around it. This proved to be a smart decision. Before long, it was once again one of the most profitable casino-resorts on the Las Vegas Strip.

Officials within the company now feel it’s the perfect time to sell this venue. That doesn’t mean they’re saying goodbye forever, though. The Mandalay Bay sale is similar to the Bellagio sale in that it will be leased back over the next few years.

MGM Resorts and the Blackstone Group have formed a new joint venture to control these venues. MGM will hold 50.1% of the venture. The Blackstone Group holds the other 49.9%.

Not everyone is rejoicing at this new sale-heavy approach from MGM Resorts. Some feel that it’s not fair to the company’s employees, many of whom have been let go. Is there some validity to these complaints?

Are More MGM Sales On the Horizon?

At this point, anything is possible. MGM Resorts has already sold some of its most profitable venues. It all comes as part of their new cost-cutting strategy. The money they’re earning from these sales is also going towards investments overseas.

In 2018, officials in Japan officially legalized casino gambling. Soon, three major casino-resorts will begin operating in this country. Unsurprisingly, all of the top US casino companies are pushing to obtain a Japanese casino license.

MGM Resorts wants to ensure that they have the necessary capital on hand to construct a new integrated resort in Japan. The Mandalay Bay sale will certainly help with this. The property is being valued at more than $2 billion.

It’s certainly that officials in MGM Resorts decide to sell more venues. The strategy of leasing these properties back is working well. Exactly which casinos may be sold is still unknown.

Mandalay Bay has gone through a lot over the past few years. Fortunately, the future looks bright for this casino-resort.

Stay tuned for more Las Vegas casino news over the next few months!