Articles tagged “mgm resorts”

MGM Resorts Leads U.S. Travel Sector With Job Cuts So Far in 2019

MGM Resorts Leads U.S. Travel Sector With Job Cuts So Far in 2019

Sean O'Neill, Skift

The U.S. is enjoying a tight labor market. But not every company is thriving. Data exclusively compiled by outplacement firm Challenger, Gray & Christmas reveals the most notable job cutbacks in 2019 by companies in the hotel, attractions, airline, and airport sectors.

2 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?

3 months ago

Hoteliers Take a Harder Look at How They Set Room Rates

Hoteliers Take a Harder Look at How They Set Room Rates

Sean O'Neill, Skift

Amateurs cut rates to fill hotel rooms. Pros take more sophisticated approaches, such as coordinating to stimulate demand from the most profitable customers.

3 months ago

MGM Resorts Completes Layoffs in Cost-Cutting Effort

MGM Resorts Completes Layoffs in Cost-Cutting Effort

Associated Press

MGM Resorts tried to get ahead of the curve by downsizing before a potential economic downturn hits. The hospitality company can now focus on developing new experiences and products to drive revenue and truly future-proof its business.

7 months ago

Wynn Resorts May Sell New Boston-Area Casino to MGM Resorts

Wynn Resorts May Sell New Boston-Area Casino to MGM Resorts

Christopher Palmeri, Bloomberg

Wynn Resorts fought hard to win the right to open this casino outside Boston. But business priorities change, and this seems less important to the company now.

7 months ago

MGM Resorts’ New Exec Hire Signals a Transformation to an Experience Platform

MGM Resorts’ New Exec Hire Signals a Transformation to an Experience Platform

Deanna Ting, Skift

It likely won't be the only, or the last, hospitality company to do the same.

9 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.

11 months ago

China’s Slowdown Is Driving Away Some of Macau’s High Rollers

China’s Slowdown Is Driving Away Some of Macau’s High Rollers

Daniela Wei, Bloomberg

The Macau casino stock index has slumped to its lowest level in a year. No wonder. Deutsche Bank has cut its 2019 outlook for casino revenue to 4 percent, from 11 percent, as China feels the pressure of the trade war and other factors.

1 year ago

Lawyers for Vegas Shooting Victims Criticize MGM Resorts

Lawyers for Vegas Shooting Victims Criticize MGM Resorts

Regina Garcia Cano, Associated Press

The far-reaching toll of gun violence knows no bounds.

1 year ago

MGM Sues Las Vegas Mass Shooting Victims to Avoid Being Sued By Them

MGM Sues Las Vegas Mass Shooting Victims to Avoid Being Sued By Them

Associated Press

Last October's mass shooting in Las Vegas has had a negative impact on MGM Resorts' profits and will likely continue to do so for some time. But let's not forget that it also took the lives of 58 people and seriously injured hundreds more. This legal maneuvering by MGM is rightfully earning the company outrage in the public sphere.

1 year ago

Labor Unions Threaten a Las Vegas Strike That Might Cost Casinos Millions

Labor Unions Threaten a Las Vegas Strike That Might Cost Casinos Millions

Regina Garcia Cano, Associated Press

Take the union numbers quoted in this article with a grain of salt, as their remarks may be inflated as a negotiating tactic. But there's no doubt a labor strike could hurt Las Vegas resort groups.

2 years ago

Vegas Workers Threaten Over Wages, Safety and Robots, But Owners Don’t See Strike

Vegas Workers Threaten Over Wages, Safety and Robots, But Owners Don’t See Strike

Christopher Palmeri , Bloomberg

The issues at the center of labor unrest in Las Vegas translate across the entire U.S. economy: a decent wage, workplace safety and losing your job to a robot. The culinary workers and bartenders' contract is up June 1. Let's see what owners can guarantee.

2 years ago