Las Vegas, Nevada – The Las Vegas-based casino company, MGM Resorts International, is content to wait on prospects in New York and Texas as they continue to grow their presence in other markets, according to a recent report by the Las Vegas Review-Journal.
The company, which operates numerous casinos and resorts on the famous Las Vegas Strip, has been eyeing potential opportunities in both New York and Texas for some time. However, with the current economic climate and regulatory challenges in these states, MGM Resorts is choosing to focus on other markets where they can see more immediate growth potential.
“We are always exploring new opportunities for expansion, but we have to be strategic about where we invest our resources,” said company spokesperson Samantha Miller. “New York and Texas are both enticing markets, but there are a lot of factors at play that make them more challenging for us at this time.”
In New York, the state has been slow to expand its casino industry beyond the existing tribal casinos and racetracks. MGM Resorts has expressed interest in bidding for one of the remaining licenses in the state, but with ongoing debates about the location and number of new casinos, the timeline for expansion remains uncertain.
Similarly, in Texas, where there is currently no legalized casino gambling, MGM Resorts has been monitoring potential legislative changes that could open up the market for them. However, with conservative attitudes towards gambling in the state and a complex political landscape, the company is cautious about investing too heavily in this market.
Instead, MGM Resorts is focusing on expanding its presence in existing markets such as Nevada, Maryland, and Massachusetts, where they have seen strong growth and success in recent years. The company recently completed a $1 billion expansion of their flagship property, MGM Grand Las Vegas, and is also investing in new projects in Maryland and Japan.
“We believe in the long-term potential of New York and Texas, but for now, we are content to wait and see how things develop in those markets,” said Miller. “In the meantime, we are excited about the opportunities we have in other parts of the country and around the world.”
Overall, MGM Resorts remains optimistic about their future prospects and is confident that their strategic approach to expansion will continue to drive growth for the company in the years to come.
