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in Heaven
- page 4
Story by Kathleen Foley
Q: What role will international resorts
play in the company’s future?
A: We are currently underway on a
600-room resort/casino project in Asia
called MGM Grand Macau, which will be
located on a prime waterfront site. We’re also
investigating the possibility of developing a
resort in Singapore.
Q: It seems that MGM MIRAGE is
redefining itself as a development company
with interests in many other kinds of
businesses, including land development,
office, and residential. Is that how you
see the company evolving over the next
few years?
A: I do. There’s no doubt we will remain a
gaming company at our core, but we’re leading
an evolution of the gaming business in Las
Vegas. Our business model has been evolving
over the last 10 years to become more
balanced between gaming and non-gaming.
In fact, at the end of last year, the company
posted more revenue from its non-gaming
interests than its gaming interests. If you
think of it that way, it’s only logical that capital
expenditures will follow that same path
going forward. We’ve spent over a billion
dollars in the last few years to improve our
properties, but we haven’t added a single slot
machine or gaming table. That money has
built better restaurants, better lounges, better
theaters, better rooms, and better public
spaces. The next generation of development,
ushered in by Project CityCenter, will result
in a much more diversified income stream for
the company, which will make us stronger and
more secure.
Q: On a personal note, do you have a
favorite property or restaurant? When
out-of-town guests visit, where do you
take them?
A: Like any good parent, I love all our children
equally, so it’s hard to single out any one
place. However, I have to say my favorite restaurant
is Shibuya at MGM Grand, because I
love the space and the atmosphere, and I love
Japanese food.
Q: With all the hotels your company
controls on The Strip, do you ever feel
like you’re playing a life-sized game of
Monopoly?
A: When I’m at work, I can’t afford to play
games, but I do love Monopoly and I play it
most weekends with my two, young sons. I
think I have the best job in the world, and
I feel blessed to work here. |
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