While analysts who cover MGM Resorts International are reluctant to talk about the company’s financial prospects two months after the 1 October massacre, they’re collectively saying MGM stock would be a good addition to a portfolio.
Casinos & Gaming
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It was by no means quiet in Mandalay Bay the night of Dec. 1, a Friday. But at certain points that evening, the crowds and energy levels seemed higher in two other MGM Resorts International-owned casinos.
Around dusk on a late November weekday, hundreds of men and women walked through the Mandalay Bay, past empty restaurants just off the casino floor and toward the huge convention center.
Like a sharp poker player, Las Vegas casinos keep their cards close to their vest when it comes to security.
Mandalay Bay is adding to its security even as it cuts hours of other employees.
Boyd Gaming is informing guests at all its properties that hotel personnel will enter a room if a “Do Not Disturb” sign is left on a door for more than 48 hours.
Should lawsuits filed against MGM Resorts International over the Oct. 1 Strip shooting result in judgments against the company, executives believe their insurance will cover any losses.
The Culinary union said it will look into whether Mandalay Bay followed proper procedures when it cut employees’ work hours, effective immediately, in response to the Oct. 1 Las Vegas shooting.
Serena Talledo and other Mandalay Bay employees say they were told this week that MGM Resorts International is reducing their schedules as a result of the company’s hardships in the aftermath of the Oct. 1 mass shooting.
The operator of the hotel closest to the Route 91 Harvest Festival grounds not operated by MGM Resorts International said the Tropicana Las Vegas experienced a 35 percent cancellation rate on bookings in the days immediately following the Oct. 1 mass shooting.
Caesars Entertainment’s top executive said his company is seeing a slight downturn in casino play from Asian guests as a result of the Route 91 Harvest Festival shooting.
A return to normalcy for Las Vegas tourism may still be weeks away, but there should be no long-term effects on tourism to Southern Nevada because of the Oct. 1 shootings.
The Las Vegas Convention and Visitors Authority began planning its revised marketing message to the world — a message of concern for victims and first-responders — a minute after the shooting from the 32nd floor of the Mandalay Bay resort stopped on Oct. 1.
Wynn Resorts Chairman Steve Wynn said his company has a policy of checking on hotel guests who don’t leave their rooms and ask not to be disturbed for more than 12 consecutive hours, Steve Wynn said in a Sunday broadcast interview.
At Mandalay Bay, you can gamble, party in Light nightclub, relax at a man-made beach and attend gatherings in its massive convention center. Now, it’s also the place where a heavily armed gunman rained terror on concertgoers across the street in the deadliest mass shooting in modern U.S. history.
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