Source link : https://las-vegas.news/disgrace-on-us-mgm-execs-say-pricing-modifications-adopted-summer-season-complaints/
LAS VEGAS (KLAS) — “Shame on us,” the chief of MGM mentioned, reflecting on Las Vegas’ excessive costs, together with “the infamous bottle of water” and the $12 espresso at Starbucks.
Throughout an earnings name Wednesday about billions in revenues, abroad on line casino ventures and the necessity to diversify the enterprise, MGM President and CEO Invoice Hornbuckle had slightly self-assessment on his thoughts.
The excessive costs of water and occasional are two complaints that got here by way of loud and clear as individuals defined what they assume is improper with Las Vegas.
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One investor requested if there’s a rising gulf between the common bargain-loving vacationer and the extremely valued luxurious buyer that MGM and different resort corporations compete to get. And Hornbuckle mentioned the core reply is sure, however he did not cease there.
Inside the 14-resort portfolio that MGM Resorts Worldwide runs on the Las Vegas Strip, there is a extensive distinction in clientele. That top-priced bottle of water, thrown within the face of the Las Vegas tourism business, was a wakeup name that the purchasers on the Bellagio, the ARIA and The Cosmopolitan aren’t the identical as the oldsters at Excalibur and Luxor. All of these are MGM properties.
MGM Resorts Worldwide CEO Invoice Hornbuckle.
His “shame on us” remark reveals that resort leaders at the least…
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Author : LasVegasNews
Publish date : 2025-10-30 00:19:00
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