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MGM is in crisis as hundreds of Las Vegas shooting victims accuse the Mandalay Bay of missing red flags

Getty Images/David Becker Hundreds of victims of the Las Vegas shooting are filing lawsuits against the operator of the hotel where the gunman was staying. The lawsuits argue that the hotel and its parent company should have taken greater security measures. If the victims win in court, it could change how hotels handle security. Hundreds of victims of the Las Vegas shooting have filed lawsuits against the Mandalay Bay Resort and Casino and its parent company MGM Resorts International. Several lawsuits — the largest of which was filed on behalf of 450 people — attempt to hold MGM legally liable for the shooting, which killed 58 people and injured hundreds more. Victims are additionally...

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MGM Resorts Stock Set to Punish Short Sellers, Investopedia

MGM Resorts International ( MGM ) shares sold off following the Oct. 1 Las Vegas tragedy, dropping to a six-month low in the upper teens, but the stock bounced strongly into November. It is now consolidating near the top of a seven-month trading range and could break out soon, punishing event-focused short sellers while rewarding shareholders who held on tightly despite the horrendous news flow. The company owns Mandalay Bay Resort and Casino, the site of the massacre, as well as half the hotel rooms on the Las Vegas Strip. This massive exposure will generate the greatest legal and tourism losses in the aftermath of the catastrophe, calling into question the wisdom of owning the stock into...

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MGM Resorts Commences Search for Springfield Casino Staff

Gambling operator MGM Resorts International has opened a career center in Springfield, Massachusetts, seeking employees for its $950-plus-million gambling resort currently under development in the heart of the city. The Las Vegas-based company was granted a license to develop a hotel and casino complex several years ago, when Massachusetts voters approved the construction of commercial casinos within the state’s borders. Wynn Resorts, another Las Vegas headquartered gambling giant, is also building an integrated resort in Massachusetts. MGM Springfield is slated to open doors in September 2018, and the operator has been gearing up for the opening by ramping up construction activity and...

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MGM Ready To Roll The Dice On $7 Million NJ Sportsbook If SCOTUS Fells PASPA

New Jersey’s sports betting case will be heard by the highest court in the land on Dec. 4. Meanwhile, the state’s casinos are already betting New Jersey will score a win. MGM International announced it’s beginning construction on a sportsbook at Borgata Hotel Casino & Spa, a full six months before most experts believe the Supreme Court (SCOTUS) will rule on the matter. MGM’s confidence indicates overwhelming sentiments among sports betting aficionados and the American public that SCOTUS will rule in favor of New Jersey’s bid to allow sports gambling. That move would end the legislation that has blocked sports betting in all but four states for the past 25...

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MGM Plans to Focus on Strip Remodels Rather Than New US Casinos, iGaming Post

MGM Plans to Focus on Strip Remodels Rather Than New US Casinos As reported by the local media, the CEO of MGM Resorts International recently announced that the company is no longer going to spend its investment dollars on building new casinos across the United States. Instead, the company plans to take its cue from the Monte Carlo remodel and invest the money on revamping its existing properties along the Strip. Jim Murren, the CEO at MGM resorts revealed in a press conference that the company is already done with building new casino resorts around the US, although the firm might establish a new integrated casino resort in Japan. Talking of the latest casino establishments developed by...

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MGM Opens Employment Center For Springfield Casino, WAMC

MGM Opens Employment Center For Springfield Casino MGM is ramping up its plans to hire thousands of people to work in the $960 million resort casino complex that is scheduled to open in western Massachusetts next fall.    MGM earlier this month opened a career center in downtown Springfield as a one-stop shop for job seekers.  Located in rented space in a building on East Columbus Ave. adjacent to where the casino is under construction, the center has a 20-seat computer lab, interview rooms, and an on-site office staffed by the Massachusetts Gaming Commission to help with the casino employee licensing process. Mike Mathis, president of MGM Springfield, said in a statement that the career...

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MGM Resorts reveals its plan to put a casino in Bridgeport - WFSB 3 Connecticut

A new world-class resort casino may be in the works for Bridgeport. MGM Resorts International announced plans on Monday for the development of MGM Bridgeport, which will be built at Steelpointe Harbor in Bridgeport. Representatives from the company said the project would bring in 7,000 jobs, $50 million in fees paid to the state, $8 million for Bridgeport and $4.5 million to surrounding communities. They said it would also generate more than $600 million in private investment and $430 million in new labor income. James Murren, MGM Chairman and Chief Executive Officer, said the casino could be a major economic force. “This project can help to turn the economic tide of this state,"...

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World s most iconic casinos: The MGM Grand, 32Red

Want to know more about the planet’s most famous casinos? From opulent surroundings to incredible histories, we’ll give you the inside-track. With a name that’s instantly recognisable to boxing fans, the MGM Grand is one of the most famous leisure establishments in the world. But what is it that makes the Grand, located on Las Vegas’ legendary strip, quite such a momentous venue? Well, contrary to what you might have heard, it seems size really does matter. A resort comprised of a luxury hotel (the biggest in the USA with 5,124 rooms), one of the largest casinos in Vegas, plus a huge arena where sports and musical events take place, this institution of extravagance has 30 floors, while the...

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Do Casino Stocks Move On Big Vegas Fights? (NYSE:LVS)(NYSE:MGM), Benzinga

Mayweather-McGregor Would Bring Big Money To Vegas, But Not Necessarily Casino Stocks The highly-anticipated fight between undefeated boxing star Floyd Mayweather and UFC star Conor McGregor was confirmed on Wednesday. The fight will not only benefit the pockets of Mayweather and McGregor, but should also have a huge impact on Las Vegas. The 2015 fight between Mayweather and Manny Pacquiao raked in over $500 million, and Mayweather’s team believe his fights have at least a $100 million impact on the local economy. Some of the names that could gain from the fight include MGM Resorts International (NYSE: MGM ), Las Vegas Sands Corp. (NYSE: LVS ) and Wynn Resorts, Limited (NASDAQ: WYNN...

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MGM Grand Hotel Casino - Las Vegas, Review

MGM Grand Hotel & Casino 4.0 The Strip, Las Vegas, Nevada Review Summary Oyster Hotel Photos Oyster Hotel Review This place truly is grand. Its 5,000 rooms are the second most of any single property in the world -- but that's not the half of it. Rather, what makes the MGM Grand extraordinary is that virtually everything here is big and spectacular and over-the-top -- the casino is the biggest in town; the pool complex is vast; the entertainment options range from big-time boxing matches to arena concerts to Cirque du Soleil; and so many of the restaurants are headed by celebrity chefs that you practically need trading cards to keep track. Rooms were the first area of the hotel to see...

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