Inustry Competitor Analysis-Casino Hotel
Executive Summary
The center of our industry and competitor analysis research is MGM Mirage, the second largest casino hotel operator in the world with $7.2 billion in revenues in 2008. The only company that surpasses MGM Mirage by revenue and scale is Harrah’s Entertainment Inc. with $10.8 billion in revenues in 2008. Other competitors that should be considered are Las Vegas Sands Corp. and Wynn Resorts Ltd with respectively $1.7 and almost $1 billion in revenues in 2008.
Our group focused on researching the degree of threat and the likely future competitive moves that Harrah’s Entertainment, Las Vegas Sands Corp. and Wynn Resorts Ltd will undertake in short (next 3-6 months) and long term (next 1-3 years). In order to be able to consider the competitors’ degree of threat and future moves we completed a pair-wise two-step competitor analysis that included research and comparison of market commonality, competitive asymmetry, resource similarity, intentions, beliefs, relative resource differences, past moves, and counter moves for all abovementioned competitors versus MGM Mirage.
After the completion of our research, we concluded that presently, MGM Mirage is in a direct competition with only one of its competitors-Harrah’s Entertainment Inc. The other two competitors, Las Vegas Sands Corp. and Wynn Resorts Ltd, do not represent a direct threat to MGM at the moment; however, their strategic moves should not be overlooked, because of their similar product offerings, geographic expansion plans and targeted consumer base. In order for MGM Mirage to be ahead of its competition, the company should focus not only on geographic expansion in US, but also on international expansion including through cooperative arrangements with other industry players, improved operational efficiency to minimize costs and technological advancement to maximize revenue.
Focal Firm
MGM Mirage, the focus of our research, is one of the leading
The center of our industry and competitor analysis research is MGM Mirage, the second largest casino hotel operator in the world with $7.2 billion in revenues in 2008. The only company that surpasses MGM Mirage by revenue and scale is Harrah’s Entertainment Inc. with $10.8 billion in revenues in 2008. Other competitors that should be considered are Las Vegas Sands Corp. and Wynn Resorts Ltd with respectively $1.7 and almost $1 billion in revenues in 2008.
Our group focused on researching the degree of threat and the likely future competitive moves that Harrah’s Entertainment, Las Vegas Sands Corp. and Wynn Resorts Ltd will undertake in short (next 3-6 months) and long term (next 1-3 years). In order to be able to consider the competitors’ degree of threat and future moves we completed a pair-wise two-step competitor analysis that included research and comparison of market commonality, competitive asymmetry, resource similarity, intentions, beliefs, relative resource differences, past moves, and counter moves for all abovementioned competitors versus MGM Mirage.
After the completion of our research, we concluded that presently, MGM Mirage is in a direct competition with only one of its competitors-Harrah’s Entertainment Inc. The other two competitors, Las Vegas Sands Corp. and Wynn Resorts Ltd, do not represent a direct threat to MGM at the moment; however, their strategic moves should not be overlooked, because of their similar product offerings, geographic expansion plans and targeted consumer base. In order for MGM Mirage to be ahead of its competition, the company should focus not only on geographic expansion in US, but also on international expansion including through cooperative arrangements with other industry players, improved operational efficiency to minimize costs and technological advancement to maximize revenue.
Focal Firm
MGM Mirage, the focus of our research, is one of the leading