{"id":5701,"date":"2018-05-03T22:37:56","date_gmt":"2018-05-03T22:37:56","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=5701"},"modified":"2018-05-06T21:19:37","modified_gmt":"2018-05-06T21:19:37","slug":"mgm-resorts-revenue-hurting-thanks-to-casino-with-no-front-door","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/mgm-resorts-revenue-hurting-thanks-to-casino-with-no-front-door\/","title":{"rendered":"MGM Resorts Revenue Hurting Thanks To Casino With No Front Door"},"content":{"rendered":"

First quarter revenues<\/a> were down at one of Southern Nevada\u2019s Big Six c<\/strong>asino companies and the rebuilding and re-branding of one of its Las Vegas Strip<\/strong> properties may be to blame. MGM Resorts International<\/strong> reported net revenues of $2.1 billion<\/strong> on its first quarter earnings call last week. A number that was down one percent<\/strong> from the same period last year.<\/p>\n

In fact, MGM Resorts CEO Jim Murren<\/strong> said the companies Las Vegas Strip revenues were actually down two percent<\/strong> compared to the first quarter of 2017.<\/p>\n

MGM did manage to do better than the three to five percent drop it projected in its fourth-quarter<\/strong> earnings call. However, Murren said matching 2017\u2019s numbers was impossible because of issues surrounding the ongoing rebuilding and re-branding of MGM\u2019s Monte Carlo<\/strong> property into Park MGM<\/strong>.<\/p>\n

Unlike anything MGM has done before<\/span><\/h2>\n

Murren said the project has been unlike anything MGM has done before and the organization completely underestimated<\/strong> the financial impact it would cause:<\/p>\n

\u201cIt\u2019s worth noting we\u2019ve never undertaken anything like this before, and when it\u2019s all said and done we will have literally changed every square inch of the property while keeping it open.\u201d<\/p><\/blockquote>\n

According to Murren, the major issues at the new Park MGM have been a lack of vehicle access<\/strong> to the main entrance and direct pedestrian access<\/strong> from the Las Vegas Strip during the rebuild:<\/p>\n

\u201cIt\u2019s kind of a tough thing when you go to a resort and can\u2019t drive up to the front door.\u201d<\/p><\/blockquote>\n

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