Mandalay Resort Group Says Outlook Good For The Gambling Company

01.07.2003, Lesen Sie hier den Bericht über «Mandalay Resort Group Says Outlook Good For The Gambling Company».

Mandalay Resort Group President Glenn Schaeffer says his company is poised to capitalize on an expected upsurge in room demand once the economy heats up and threats from terror and war cool down. Schaeffer made his remarks during the annual shareholders meeting this week at the Mandalay Bay hotel-casino. The property anchors his company's prized Mandalay Mile.

"You are sitting here at the most famous hotel in the world,” Schaeffer said. “It’s kind of a Monopoly board we're putting together here at the Mandalay Mile." With demographic numbers promising a continuing stream of baby boomers looking to spend ever-increasing amounts on entertainment, the company's future is promising, he said.

Mandalay pursued projects outside Las Vegas in the'90s, including lining up casino joint-ventures in Illinois and Detroit. But now the company's focus is on the Strip, specifically the south Strip. Mandalay Bay's new convention center and its hotel tower now under construction are also keys to the company's emerging power on the Strip.

The company's reliance on Las Vegas generated criticism in the wake of the post Sept. 11, 2001, tourism slowdown that hurt destination casinos more than their local-market cousins. He said he expects Strip room rates to rise.

The Strip room supply isn't bigger than its corresponding demand, he said, noting that room supply is projected to grow at only a 1 1/2 percent rate over the next few years, far below its'90s pace. "We don't have oversupply on the Strip,” Schaeffer said. “The Strip is one of the few places where prices go up every year, absent a 9-11 or a war."

Schaeffer said the company was still not ready to announce plans for ist long-awaited “Project Z," a fourth Mandalay Mile megaresort that would occupy a spot near the southeast corner of Russell Road and the Strip.

Deutsche Banc casino equity analyst Marc Falcone said Friday Mandalay's bet on Las Vegas is a smart one, noting that companies like Harrah's Entertainment that aggressively bought into riverboat gambling are now facing big tax increases in several of those markets. Schaeffer closed his remarks by telling shareholders that they've invested in a winner.

Über Glücksspiele Las Vegas - Gambling in Las Vegas:

Las Vegas liegt im Westen der USA im Bundesstaat Nevada und ist das Glücksspiel-Paradies von Amerika.

Las Vegas hat rund 100 Spielcasinos. Im Bundesstaat Nevada sind sogar über 300 Spielcasinos registriert. Die grössten Casinos sind das Bellagio, Caesars Palace, Venetian / Palazzo, Wynn / Encore, MGM Grand, Mandalay Bay.

Weitere bekannte Casinos sind das Mirage, frühere Heimat von Siegfried und Roy, das Luxor in Form einer Pyramide oder das Casino Rio All-Suite Hotel and Casino, in welchem jährlich die Pokerweltmeisterschaft (World Series of Poker WSOP) durchgeführt wird.

Die bekanntesten zwei Strassen sind der Las Vegas Boulevard, welcher auch als Las Vegas Strip bezeichnet wird. Daneben ist die Fremont Street eine gut besuchte Casino-Meile, wo beispielsweise das legendäre Casino Binion's (vormals Binion's Horseshoe) seine Spiele anbietet.

Las Vegas erstreckt sich über eine Fläche von 340 km2 und hat rund 650'000 Einwohner.

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