Tag: strip
No New Las Vegas Hotels on Strip?
It might seem like an odd statement coming from Jim Murren, chairman and CEO of the Strip’s largest casino company. For now, MGM Resorts International — which operates Bellagio, MGM Grand, Mandalay Bay, The Mirage, CityCenter and others — is done building hotel-casinos on the Strip. “It’s not my expectation during my career here that we will build another casino resort in Las Vegas,” said Murren, who became CEO in 2008. Before taking that role, he was MGM’s president, chief financial officer and chief operating officer for over a decade. During his career, MGM bought Mirage Resorts, Mandalay Resort Group…
Penn National Gaming looks to expand in Las Vegas
Penn National Gaming, which owns M Resort, is again looking at the Strip for possible expansion opportunities. During a conference call Thursday with analysts to discuss the casino operator’s first quarter earnings, Penn National CEO Tim Wilmott was asked about reports that Australian casino company Crown International was interested in buying the Cosmopolitan of Las Vegas for $2 billion. Wilmott said he thought the figure “sounded high.” If Penn were to get into the bidding for the Strip resort, which owner Deutsche Bank reportedly wants to sell, it would probably be with a partner. Wilmott added that Penn is “not…