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The MGM Grand Las Vegas is a hotel and casino located on the Las Vegas Strip in Paradise, Nevada.It is owned by Vici Properties and operated by MGM Resorts International.The resort was developed by Kirk Kerkorian through his company, MGM Grand, Inc. Kerkorian had previously developed another MGM Grand, opened on the Strip in 1973 and renamed Bally's in 1986.
The company's background can be traced to 1969, when airline and casino tycoon Kirk Kerkorian bought a controlling stake in the Metro-Goldwyn-Mayer (MGM) film studio. [15] In 1970 and 1971, Kerkorian struggled with debt from his acquisitions of MGM and Western Airlines, and was forced to sell a majority of his casino company, International Leisure, to Hilton Hotels at a steep discount.
Revenue per available room — a key metric for hotels — rose 6% year over year to $169 for Las Vegas Strip properties. Occupancy levels improved 1.5% year on year but still remained about 5.2% ...
Aria has been operated by MGM since its opening. In 2021, MGM bought out Dubai World's ownership stake in Aria and the nearby Vdara hotel, gaining full ownership of both. [3] That year, MGM sold the two properties for $3.89 billion in cash to The Blackstone Group, which leased them back to MGM for an annual rent of $215 million. [17] [18] [19]
MGM Resorts International manages several properties across the U.S., including Aria, Bellagio, Cosmopolitan, Excalibur, Luxor, Mandalay Bay, MGM Grand Las Vegas, and New York-New York in Las Vegas.
The program was later enhanced and became MGM Rewards to allow both gaming and non-gaming guests to earn credits towards rewards, including dining, entertainment, travel and hotel stays. [ 8 ] In 2012, Hornbuckle was appointed President of MGM Resorts International, and in 2019 he became Chief Operating Officer and President of MGM Resorts ...
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