A little less conversation, a little merger action, please
Today, the FTC approved the merger.
No surprise to me, really. Las Vegas still has another couple of huge industry players the Caesars/Harrah's conglomerate, which is still awaiting the FTC's blessing, and Station Casinos, which operates a number of Vegas resorts catering mostly to the local crowd, including Green Valley Ranch, the star of Discovery Channel's documentary series American Casino in addition to an abundance of smaller gaming outfits. Not to mention the fact that heavy hitter Steve Wynn, who built the Bellagio, Mirage, and the erstwhile Treasure Island before selling out a few years back, is about to open a new megaresort modestly named Wynn Las Vegas.
But it's amazing to think that one company will soon control half the hotel rooms on the Vegas Strip, including three of the four largest hotels in the world (MGM Grand is #1, Luxor #3, Excalibur #4), and about 40 percent of the Strip's slot machines. Those figures give a whole new meaning to the phrase "a chunk of change."
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