The wealthy real estate owner and habitual gambler killed 58 people and injured over 800 more before dying from a self-inflicted gunshot wound to the head. His motive for carrying out the worst mass shooting in US history has never been understood.<\/p>\n<\/div>\n
\u201cIt’s in recovery mode,\u201d said Murren, of the resort. “It has not recovered as rapidly as we had hoped. Again, this is a property that is undertaking a tremendous challenge \u2013 unprecedented \u2013 and we’re getting our arms around what that has meant, but that has lagged behind what we had predicted in terms of its performance.\u201d<\/strong><\/p><\/blockquote>\nBreaking With Conventions <\/strong><\/h2>\nAs MGM\u2019s fourth-largest property, Mandalay Bay accounts for 8.5 percent of its revenue, with much of its business coming from conventions attracted to its 2 million square feet of exhibition space.<\/p>\n
MGM COO said a large convention was canceled in February along with several smaller events. Meanwhile, demand for convention space at Mandalay Bay in the period around the first anniversary of the shooting this October is understandably low.<\/p>\n
Sanders also said some leisure tourists are electing to stay away from the property and, along with potential Monte Carlo guests, are opting to stay with competitors.<\/p>\n
\u201cWe didn’t know how impactful the Monte Carlo disruption would be,\u201d said Murren when discussing the revised revenue projections. \u201cWe felt that we could manage around it and we haven’t been able to. And we didn’t know exactly what it would take to basically re-launch Mandalay Bay. Those are on us. And that’s on me, I know better.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
MGM Resorts International\u2019s Mandalay Bay is taking longer than expected to recover from the Las Vegas shooting, the company\u2019s CEO Jim Murren told analysts during a Thursday conference call to discuss Q1 earnings. Murren said the property\u2019s revenue declined by 6.3 percent during Q1 to $245 million, while occupancy was at just 85 percent, a […]<\/p>\n","protected":false},"author":36,"featured_media":76575,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
Mandalay Bay Struggles for Occupancy Post Vegas-Shooting, Admits MGM Resorts<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n