MGM Mirage keeps on investing big money
Clarissa Kane | Published on May 25, 2008
But already before the economy slowdown, the MGM Mirage started selling rooms through company owned web sites it also shared the incomes with online booking companies and like that the management of the room inventory was even more efficient.
Harrah's Entertainment is the company's biggest competitor. Harrah's didn't have financial problems during the slowdown either, indeed it's spending over a billion dollars on a new hotel tower at its Caesars Palace flagship and it plans 3 more projects: a Margaritaville branded resort in Biloxi, Harrah's Atlantic City expansions and Horsehoe Hammond Casinos.
MGM expects to accumulate management contracts and license its brand to hotels built by partners. These hotels should be built in places like Abu Dhabi, China and Dubai and it should be non gaming hotels, obviously luxury hotels.
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