Saturday, June 13, 2015

Jim Murren Nevada Public Radio Interview Highlights

MGM Resorts International CEO Jim Murren was on Nevada Public Radio.

The interview started off talking about politics, and the retirement of Harry Reid.

Murren then talked about online gaming, which is something that MGM is looking to get into, although he said it's not something the company is dependent on. He also said he's a "big fan" of skill based gaming, which will help attract millennials and Gen X-er's.

In the future of Las Vegas Murren thinks resorts will become "more porous" allowing guests to flow from resort to resort instead of trapping them in a single resort. He stressed the importance of non-gaming which makes up 70% of the company's revenue.

Talking about MGM National Harbor, Murren said the resort will fit right in with the DC landscape, and uses some of the same architectural elements found in many of the monuments around the District.

Murren also addressed the hypocrisy of major sports leagues by allowing fantasy sports while trying to ban other sports gaming.

MGM's new arena is almost complete, and MGM is spending $100 million on the park surrounding the arena and New York New York (complete with a Shake Shack). Murren is optimistic about attracting a hockey team to Las Vegas "no later than the 2017 season."

As far as a possible merger between WYNN and MGM - Murren dismissed it as "total speculation."

MGM's power bill is $86 million a year, which is leading them to explore cutting ties with NV Energy in an effort to save money.

Despite North Strip struggles Murren is "very optimistic about the growth of Circus Circus." Monte Carlo is also ripe for growth, with MGM expecting to invest a large amount of money to re-position the property. He mentioned The Cromwell as an example of a successful re-branding.

Finally talking about Macau, Murren said he thinks the market is stabilizing, and expects the numbers to be back up in 2016.

Listen to the entire interview at Nevada Public Radio.