Articles tagged “las vegas”

MGM Resorts Enters Deal With Private Equity Giant Blackstone Over Las Vegas Properties

MGM Resorts Enters Deal With Private Equity Giant Blackstone Over Las Vegas Properties

Nancy Trejos, Skift

MGM Resorts has agreed to sell two of its most notable Las Vegas properties, MGM Grand and Mandalay Bay, to a joint venture including real estate giant Blackstone. The company is going asset-light following its sale of the Bellagio last year.

1 week ago

MGM on Hunt for Investor to Join Las Vegas Property Venture

MGM on Hunt for Investor to Join Las Vegas Property Venture

Christopher Palmeri and Gillian Tan, Bloomberg

Like other hospitality companies, MGM is pivoting towards an asset-light model and has spent the last year or so preparing for an economic downturn. It should be in good shape if the worst happens.

2 months ago

Las Vegas’ Nightclub Market Proves Too Tough for the Palms Casino

Las Vegas’ Nightclub Market Proves Too Tough for the Palms Casino

Christopher Palmeri, Bloomberg

In a city with so much entertainment and stimulation, nightclubs are proving to be a challenge to keep open in Las Vegas. The Kaos nightclub at the Palms casino is the latest casualty.

3 months ago

MGM Settles Las Vegas Shooting Lawsuit for Up to $800 Million

MGM Settles Las Vegas Shooting Lawsuit for Up to $800 Million

Associated Press

While it's good MGM is shelling out money for its role in the mass shooting, it's hard to forget that the company actually filed a lawsuit against some of the shooting's survivors two years ago.

4 months ago

MGM Likely to Sell Circus Circus and Other Las Vegas Resorts

MGM Likely to Sell Circus Circus and Other Las Vegas Resorts

Christopher Palmeri and Gillian Tan, Bloomberg

Circus Circus, probably worth at least $1 billion, would be easy to carve out. MGM Resorts has never included the popular Las Vegas resort in its loyalty program, for instance. But why rush to sell 100 acres on the ever-valuable Las Vegas strip?

4 months ago

A New Wellness Hotel Gambles on Las Vegas

A New Wellness Hotel Gambles on Las Vegas

Leslie Barrie, Skift

It’s difficult to say whether a wellness-themed hotel in Las Vegas can really take off. If the current state of the wellness industry is any indicator, the odds are (sort of) good.

5 months ago

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New Skift Report: How Planners and Properties Are Making Events More Sustainable Than Ever

New Skift Report: How Planners and Properties Are Making Events More Sustainable Than Ever

The Venetian Resort Las Vegas + Skift

The push for sustainable practices — including environmental sensitivity as well as a drive to make meetings and events more inclusive, more engaging, and more interesting for new generations of attendees — is the foremost challenge for both venues and planners alike. Forward thinking venues like The Venetian Resort are tackling these problems head on.

6 months ago

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New Skift Report: The Future of Wellness in Meetings and Events

New Skift Report: The Future of Wellness in Meetings and Events

The Venetian Resort Las Vegas + Skift

Wellness is taking over the world. The trend is now driving billions in annual consumer spending and, in the process, is reshaping the broader travel industry. That impact naturally extends to meetings and events, which are rapidly integrating wellness and mindfulness elements into programs small and large.

9 months ago

Las Vegas Resort Named for Developer’s Son Set to Open in 2022

Las Vegas Resort Named for Developer’s Son Set to Open in 2022

Christopher Palmeri, Bloomberg

In a thoughtful touch, real estate mogul Steven Witkoff is naming Drew Las Vegas after his late son who died of an opioid addiction, and Witkoff plans to use some of the revenues to fund a foundation that battles addiction. The resort will be a Marriott property on the north end of The Strip that will emphasize non-gaming options.

9 months ago

Wynn Resorts Has to Pay $20 Million For Steve Wynn’s Bad Behavior

Wynn Resorts Has to Pay $20 Million For Steve Wynn’s Bad Behavior

Nick Turner, Bloomberg

A mere $20 million in fines is nothing for a company that made $6.72 billion in operating revenues last year. Wynn Resorts is certainly lucky to have retained its gaming licenses in Nevada, too.

11 months ago

MGM Resorts Embarks on Two-Year Cost-Cutting Plan

MGM Resorts Embarks on Two-Year Cost-Cutting Plan

Christopher Palmeri, Bloomberg

MGM Resorts' CEO says it clearly: We're in the last stages of economic expansion this cycle. Hotel chains will begin to prepare themselves for what comes next.

1 year ago

Wynn Sues Genting for Copying Its Design for Las Vegas Resort

Wynn Sues Genting for Copying Its Design for Las Vegas Resort

Edvard Pettersson, Bloomberg

There are only so many ways you can design a mega resort on a small piece of land so it appeals to the Vegas visitor.

1 year ago