Home » VT News » MGM Mirage Says Profits Scalped by Tribes

MGM Mirage Says Profits Scalped by Tribes

By Chuckmonster on Thursday, 30th September 2004 7:52pm
  » filed under Las Vegas  comments: 0

   

Competition from tribal casinos has likely cut revenue at MGM Mirage casinos by about 3 percent to 4 percent a year over the past several years as Indian-owned properties have grown in scope, according to a top MGM Mirage executive.

In an interview with In Business Las Vegas, a sister publication of the Las Vegas Sun, MGM Mirage President and Chief Financial Officer Jim Murren said the company's revenue continues to grow but that the growth rate has been slowed by the proliferation of tribal casinos.

"If you told me Native American gaming would flatten out right now I'd say we've weathered the blow," Murren said. "But that's not what's happening."




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