Wednesday, June 10, 2015

The hottest Vegas destination for Hispanics is Circo Circo

Before the recession sunk its claws into the Strip, Circus Circus routinely contributed $70 million to $80 million a year in cash flow to the balance sheet of MGM Resorts International.

Today, that number is closer to $30 million.

MGM Resorts still sees a benefit to owning the aging but familiar north Strip property the company acquired when it bought Mandalay Resort Group in 2005 for $7.9 billion.

It has a loyal customer following.

MGM Resorts Chairman Jim Murren said in a recent interview Circus Circus is “the most popular property” among the company’s 10 Strip resorts for Hispanic customers traveling from Southern California and other West Coast destinations.

Murren said MGM Resorts “has taken a step back” concerning Circus Circus and is considering various options for the 3,800-room hotel-casino, which was opened in 1968 by the late Jay Sarno. After the property was sold to William Bennett and William Pennington in 1974, the resort began marketing toward families.

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