MGM Mirage Focuses on Reinventing Las Vegas
MGM Mirage is Nevada's largest employer and private investor. And, to keep
momentum high after a very profitable 2004, it intends to branch out with
its investments and work on reinventing the city of Las Vegas as more than
just a get-away/gaming town.
The booming Las Vegas real estate market will be a main driver behind that
new plan.
MGM Mirage owns 831 acres on the Las Vegas strip, and will be working to
develop 150 acres of the land. Over the past five years, MGM Mirage has
put more than $2.3 billion in capital into its properties. It expects Las
Vegas condos, to help generate a lot of new income. In the booming Las
Vegas real estate market, condos now earn a higher return on investment
than gaming.
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