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Articles tagged “mgm resorts”

MGM Resorts Reports Data Breach Affecting Nearly 11 Million Guests

MGM Resorts Reports Data Breach Affecting Nearly 11 Million Guests

Kanishka Singh, Reuters

Travel isn't the only industry that has more than its share of data breaches. But the industry must take data security much more seriously. Guests demand it.

1 month ago

MGM Resorts CEO Jim Murren Is Leaving Before Contract Expires

MGM Resorts CEO Jim Murren Is Leaving Before Contract Expires

Sanjana Shivdas and Abhishek Manikandan, Reuters

When a CEO announces his departure and the shares jump, you know somebody is happy for change. The search for Jim Murren's successor at MGM Resorts is a huge opportunity to do things differently. Let's see if the board goes bold with its pick.

1 month ago

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.

2 months ago

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.

6 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?

6 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.

7 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.

10 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.

11 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.

12 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

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.

2 years 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.

2 years ago