Thursday, September 03, 2015

Crystals Expansion likely at Harmon Site

Jim Murren - speaking on the most recent MGM Resorts International earnings conference call gave some thoughts about what the never-opened Harmon Hotel land could become:

"For those of you who are out here, or are going visit soon you'll note, which is happy news for us - that Bobby Baldwin has finished deconstructing the nightmare that was The Harmon.

That allows us to spend really constructive time to develop ideas of what would maximize that two-plus acres parcel right on the corner of the Strip. And clearly, though we're not ready to explain all of the ideas we have, you'd have to believe that an expansion of Crystals is the overarching use of that property, and there could be others.

Crystals itself is an extraordinarily valuable asset, we've discussed it on prior calls, and don't think that we've lost sight of that. We believe it not only is more valuable today than it was even last quarter, but we believe with a growth plan it would be more valuable still going forward."