Las Vegas Casino Closing, Another Will Take Its Place

Land has become incredibly precious in Las Vegas and not just on the Las Vegas Strip. Yes, any buildable property on the Strip itself has been selling for exorbitant prices, but anything that’s downtown or Strip-adjacent has increased in value as well.

This has forced resort/casino operators to give deep consideration to how every property in their portfolio performs 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 acquisition simply made more sense for the company compared to what it was selling.

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