Sep 28, 2021
MGM Resorts International has entered into a definitive agreement with New York-based private equity behemoth Blackstone Group to acquire the casino and hotel operating rights of The Cosmopolitan of Las Vegas for just over $1.6 billion.
Announced Sept. 27, the deal coincides with Blackstone’s sale of the 3,032-room Strip resort to a group of buyers for about $5.6 billion, nearly tripling its investment in the Strip property seven years after acquiring it from Deutsche Bank for just over $1.7 billion and spending $500 million on capital improvements.
According to Blackstone officials, a… more
Jul 05, 2021
Las Vegas has been busy setting the stage for the next generation of meetings and conventions with a slew of new state-of-the-art venues. Now home to 14 million square feet of meeting, conference and exhibition space, the iconic desert destination offers planners more exciting options than ever, with more than 2 million square feet of new space and three resorts launched in the past 18 months alone.
“That additional space will allow Las Vegas to host more meetings and it will allow our current clients to grow their business,” said John Schreiber, vice president of business sales for the Las… more
Jun 09, 2021
After 30 years in the Las Vegas events business, Melanie Bash isn’t exactly a deer in the headlights maneuvering down the Strip. But she knows that for event organizers and corporate meeting planners, the city’s vast options can be daunting. Trying to find the right venue is hard enough in regular circumstances, but even worse when factoring all of the health and wellness research that goes into bringing events back to life.
Recognizing a need to personalize experiences as Las Vegas reopens, Bash has teamed with DMC veteran Molly Hoisington to found a concierge service in partnership with… more
Jun 08, 2021
Hugs replaced fistbumps as the days of yesteryear reappeared during the Connect and BizBash collocated event at Red Rock Casino Resort and Spa in Las Vegas.
The B2B conference geared toward matching event planners with venue personnel to spur future business, and evrent inpiration from BizBash, drew about 750 attendees in-person May 22-24, with another 1,500 event professionals participating online.
Connect and BizBash were in the unusual position of hosting a second event during the pandemic, having executed a scaled-down and delayed version of its largest annual conference last fall in… more
May 26, 2021
Value fashion buyers looking to add premium products to their store shelves will be excited about the new elevated price point segment debuting at the upcoming OFFPRICE Show. Set for Aug. 7-10 at the Las Vegas Convention Center, alongside MAGIC Las Vegas during Las Vegas Fashion Week, the new EVOLVE Marketplace is designed to meet the needs of savvy retailers seeking elevated styles and urban trends at competitive prices.
EVOLVE will feature higher margins on quality apparel including engineered goods, in-season collections, on-trend items and readily available inventory from a curated… more
Apr 19, 2021
Nevada Gov. Steve Sisolak is aiming for the state’s many hospitality and events venues to allow 100% capacity by June 1. The welcome news is well-timed, as Las Vegas has an increasingly full slate of events scheduled starting this summer, many of which were predicated on allowing large crowds indoors.
“Our state health officials are comfortable setting a goal for a full reopening to 100% capacity on June 1,” said Sisolak during an April 13 press conference. “A safe and responsible reopening is a path forward to bringing back conventions and getting Nevadans back to work.”
The governor… more
Apr 12, 2021
Las Vegas is back with a vengeance. That was the message at the conventions and hospitality industry panel held March 8 at the brand new West Hall of the Las Vegas Convention Center, marking Global Meetings Industry Day.
After a devastating year, there’s pent-up demand for a return to live face-to-face meetings events, and Las Vegas is already seeing record gains in bookings through the end of the year and into 2022, according to industry executives who attended the event.
“We’re making great strides and I think things will continue to move quickly,” said Steve Hill, president and CEO of… more
Mar 13, 2021
On Friday, Nev. Gov. Steve Sisolak announced he is further loosening restrictions on large gatherings, including meetings and conventions, entertainment venues and large group gatherings by increasing capacity to 50 percent March 15.
The state also will streamline the process for submission and approval of large gatherings.
The new directive is another step toward re-igniting the meetings and events industry. The announcement comes on the heels of the governor also expanding vaccine eligibility to hospitality and food service workers yesterday.
“Las Vegas has been the top convention and… more
Mar 03, 2021
Las Vegas Sands Corporation has entered into a definitive agreement to sell The Venetian Resort and Sands Expo and Convention Center Operating Company for $6.25 billion to the Global investment firm Apollo Global Management, Inc.
Apollo affiliates and real estate investment trust firm VICI Properties Inc. will acquire subsidiaries that hold the real estate and operations of the Las Vegas Strip’s Venetian and Palazzo resorts and the Sands Expo and Convention Center.
“The Venetian is America’s premier integrated resort, with an unrivaled set of amenities to serve guests across hospitality,… more
Feb 05, 2021
If there’s one thing that the live events industry has continued to demonstrate over the course of its history, it’s an open-hearted willingness to help its own, particularly in times of crisis. COVID-19 has presented yet another opportunity to do just that.
Since the Las Vegas trade show industry came to a halt last March, many trade show and event workers have remained out of work and in urgent need of help, including with basics such as food. A concerned group of trade show industry companies, including the Experiential Designers and Producers Association (EDPA) Las Vegas Chapter; Metro… more
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.