The MGM National Harbor in Maryland features a 125,000-square-foot casino floor, 300-room hotel, full-service spa, 3,000-seat convertible theater, 50,000 square feet of conference space, full-service restaurants and retail space. "This affects tourism for the whole city, the region. Because it's a resort, not just a gambling casino, they have underpromised and overproduced," said Milt Peterson, chairman of developer Peterson Cos.
Boosted by conventions, tourism and other nongambling industries, the Las Vegas hotel business has surged back from its recession doldrums. Tourism numbers have been setting records for three years and robust revenue and profit figures have been posted by MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts.
Harrah's Resort Southern California has become the latest casino to add Gamblit Model G video gaming machines as more operators turn to video games and social gaming to draw in a younger audience that does not respond well to traditional slot machines. "Young people who grew up playing video games like to socialize, they very much like interactivity and innovation, they want something that uses some skill," said Radley Medina, the resort's vice president.
Macau's MGM Cotai is expected to open its doors in the last quarter of the year, according to MGM Resorts International Chairman James Murren. MGM China's net revenues rose 7% in the first quarter from a year before to $502 million, according to a filing from its parent company.
Four online gaming sites were shut down and more than $10 million in illegal gains were frozen following a joint operation between law enforcement in China and the Philippines. "It is the first cross-border online gambling case jointly handled by the Chinese police and [a] foreign counterpart since China decided to crack down on such crimes," according to a Xinhua report.