Remote work is expected to have a larger presence in the workforce after the health crisis ends. Experts say that could be a major boon to Las Vegas. (Las Vegas Review-Journal)
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Remote work is expected to have a larger presence in the workforce after the health crisis ends. Experts say that could be a major boom to Las Vegas.
MGM Resorts International announced its new “Viva Las Office” program that encourages business travelers to work remotely from the Bellagio or Aria.
Japan is getting ready to issue three highly coveted gaming licenses. The country’s gaming market is estimated to be worth more than $25 billion a year once resorts open in 2025. If the estimates stand up, Japan would become the second-largest gaming market in the world behind Chinese gaming enclave Macau. MGM and at least eight other companies had been vying for the Japanese licenses. In 2019 Las Vegas Sands Corp. and Wynn Resorts Ltd. turned their attention to other areas. Caesars Entertainment Corp. dropped out of the race altogether. MGM teamed up with Japanese financial services group Orix for its bid for a gaming license. MGM/Orix group was the only one to participate in the RFP process. “We think MGM is in a very good position in Osaka at this point” – Union Gaming analyst John DeCree (Las Vegas Review-Journal)
MGM Resorts International announced its MGM 2020 plan in January, The plan would improve cash flow by $200 million annually by the end of 2020 and an additional $100 million by the end of 2021. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. Jim Murren
MGM Resorts International announced its MGM 2020 plan in January, The plan would improve cash flow by $200 million annually by the end of 2020 and an additional $100 million by the end of 2021. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. Jim Murren
MGM Resorts International is planning to power Las Vegas Strip casinos using solar arrays. MGM Resorts is partnering with a Chicago-based renewable developer on a new 100-megawatt photovoltaic array set to go online in 2020, about 25 miles northeast of Las Vegas. The dedicated solar array will be capable of supplying up to 90 percent of daytime demand at the company’s 13 Las Vegas casinos. The array will consist of 336,000 solar panels capable of producing enough power for about 27,000 homes. Construction is slated to start next year, and is expected to employ about 350 people during construction . All of the electricity generated by the array will go to MGM Resorts under a 20-year agreement.
MGM Resorts International plans to raise their resort fees at some properties. The timing or size of the fee increase wasn’t given, but hinted they might soon push them up to Caesars’ level. Caesars raised resort fees at their eight Las Vegas Strip properties on Feb. 1. The rise in resort and other fees, like parking, will help offset inevitably higher labor costs, executives said. MGM spokeswoman Mary Hynes says the market “has experienced recent increases, and we subsequently anticipate making adjustments in the near future.” In January, MGM announced it would increase parking fees at 11 of its 12 Strip properties.
The Culinary union will ask Las Vegas casinos and hotels to supply guest room attendants with panic buttons amid national attention to the issue of workplace sexual harassment. The proposal is part of the union’s demands as it readies for talks for 50,000 of its 57,000 employees on a five-year contract with casinos next month, said Bethany Khan, a spokeswoman for Culinary Local 226. Panic buttons would allow guest room attendants to notify security if they are in an uncomfortable or threatening situation. The union will be renegotiating contracts with Caesars, MGM Resorts International and several downtown casinos starting in mid February.
Several Las Vegas-based operators have casinos in states likely to enact legislation to regulate sports betting, according to Eilers & Krejcik Gaming, assuming a favorable U.S. Supreme Court decision.