MGM Resorts International’s “sale-leaseback” of Bellagio isn’t likely to be its last such deal, and the company is not alone.
Bailey Schulz
Business reporter
Email: bschulz@reviewjournal.com
Phone: (702) 383-0233
Bailey joined the Las Vegas-Review Journal’s business desk in April 2018. She previously worked with the paper in the summer of 2017 as an intern. Prior to her return, she was an intern on Bloomberg News’ energy team. She grew up in Iowa and graduated from the University of Nebraska-Lincoln with a bachelor of journalism degree in 2017.
MGM Resorts International has landed the naming rights for a performing arts center at Fenway Park, home of the Boston Red Sox.
On Tuesday, Red Rock Resorts executives revealed the company was shutting down Kaos, the Palms’ nightclub and dayclub, effective immediately.
Red Rock Resorts executives announced Tuesday that they’d be shutting down the Palms’ nightclub and dayclub, effective immediately.
The announcement came after the Reno-based company reported solid third quarter earnings, with a record third-quarter adjusted cash flow of $197.8 million.
Revenue for gaming equipment manufacturer Everi Holdings increased to a quarterly record of $134.6 million, with net income up nearly 350 percent compared with the same period last year.
The MGM Resorts-affiliated real estate trust is looking for more sale-leaseback opportunities in the gaming industry, but executives were mum on whether that includes the MGM Grand.
On Tuesday, Red Rock Resorts announced during an earnings call that Kaos nightclub at Palms will close.
While most of its revenue comes from pigeon control services at casinos and other businesses, the company is known for its abatement contract with Wynn Resorts.
Real estate firm Witkoff announced the longtime Las Vegas gaming executive’s new role as CEO of the planned Las Vegas Strip resort-casino, as well as vice chairman of the firm.
With the Automotive Aftermarket Products Expo and the Specialty Equipment Market Association Show expected to bring thousands of automotive aftermarket professionals to Las Vegas, room rates along the Strip and beyond are starting to surge.
Some analysts believe MGM Resorts International’s “asset-light” strategy may boost its stock, but others say selling such assets could hurt the company in the long run.
Commissioner Roger Goodell will lead a fireside chat at the January event as Las Vegas readies to become an NFL city.
The California-based company will provide technology and computing resources, along with research and internship opportunities at the facility, set to open in January.
Some properties are charging three times as much for a room the night of Dec. 7 compared with just two weeks later on Dec. 21.