MGM considers Las Vegas Strip casino

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MGM Resorts could bring another casino to the south end of the Las Vegas Strip, CFO Jonathan Halkyard hinted at the Morgan Stanley Virtual Global Consumer and Retail Conference.

That comes as the company looks to attract more of its regional casino customers to the Strip as well as improving pedestrian access to MGM Grand, he said.

There is a substantial opportunity for MGM to make additional developments on the southern end of the Strip if that is beneficial to shareholders, he said.

Halkyard cited seven acres in front of the Excalibur that is equal to the footprint of the Cosmopolitan, whose operations MGM is buying for $1.625bn. 

“I’m not suggesting a 3,000-room tower, but there’s a significant development opportunity potentially,” Halkyard said.

Source: Fantini’s Gaming Report

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