This week we will get to a new construction update as well as some current renovations. We mentioned that MGM Resorts planned on renovating a portion of the rooms at MGM Grand after the company’s recent earnings call. Some of the rooms in the newly named Studio Tower (former West Wing) will be available in late October. The rest should be completed before the end of the year.
It is very real that we are seeing MGM taking small steps at Cosmopolitan. Last week we mentioned Silk Sonic performing at the Barbershop inside the Cosmopolitan as the first marker that MGM Resorts is taking over operations at the property. Typically performers at Park MGM make aftershow appearances at the same property. This was a change of pace to have an aftershow at a different MGM Resorts property.
This week will be a very different edition of Vegas News. We originally started wishing you a Happy Super Bowl Sunday and are finally posting just before March.
The big news in Las Vegas since the beginning of February is that masks are no longer mandated in public places and casinos. Wearing a mask in both locations is still optional for anyone that would like to wear one.
Imploding The Trop? – Did I Get Your Attention? This was a big weekend in Las Vegas. The headliner is that the NFR (National Final Rodeo) is underway in Las Vegas! In addition to a slew of country music concerts, there was a Foo Fighters show, Raiders game versus the Washington Football Team, and a lot more.
We’re a week removed from the Kentucky Derby and Cinco De Mayo weekend in Las Vegas. I didn’t think I’d feel this way but Derby Day felt incomplete without a big fight. I haven’t been a boxing fan for a few years but the excitement a big fight brings to Las Vegas is unmatched. Boxing also brings in the biggest customers according to MGM Resorts.
There’s no way to sugar coat MGM Resorts first quarter earnings. I opened the quarterly MGM Resorts earnings presentation as soon as I woke up and saw a slew of red down arrows. After a cup of coffee and actually spending time reading the why there were red arrows it’s easy to see that MGM Resorts just had a bad quarter.