web analytics

Las Vegas Casino Closure, Another Will Take Its Place

Las Vegas Casino Closure, Another Will Take Its Place

Land has become incredibly precious in Las Vegas and not just on the Las Vegas Strip. Yes, every buildable property on the Strip itself has sold for exorbitant prices, but anything downtown or on the Strip has also increased in value.

This has forced resort/casino operators to think deeply about how each property in their portfolio is performing and how it fits into their overall goals. That’s at least partly why MGM Resorts International (MGM) sold Mirage and bought Cosmopolitan — the location and age of the new asset just made more sense to the company compared to what it sold.

Leave a Reply

Your email address will not be published. Required fields are marked *