Mgm Mirage Case Study
MGM Mirage
Introduction of the Company
MGM Mirage is one of the largest gaming industries in the United States and specifically Las Vegas, Nevada. The two people responsible for the start of this empire are Kirk Kerkorian and Steven Wynn. Kirk Kerkorian opened up the first MGM Grand in Las Vegas, Nevada in 1973. Steven Wynn moved to Las Vegas in 1967 and after investing in land on the strip he later opened up the Mirage, followed by Treasure Island and the Bellagio. The MGM Mirage was created during the merger in 2000, and Steven Wynn is no longer affiliated with this company. Since this merger, MGM Mirage has grown and acquired numerous other properties. Currently MGM Mirage acts as a holding company and conducts operation through its wholly owned subsidiaries. The MGM Mirage owns many of the large hotels and casinos on the Las Vegas strip, all which provide restaurants and some the largest entertainment in the world. In 2006 MGM Mirage had $7 Billion in revenues and $600 Million net profits.
Mission Statement
MGM Mirage’s mission statement that is posted on their website is “Our mission is to deliver our winning combination of quality entertainment, luxurious facilities and exceptional customer service to every corner of the world in order to enhance shareholder value and to sustain employee, customer and community relationships.” The mission statement that is stated in the text book is “The resorts and casinos of MGM Mirage are some of the most famous in the world, widely credited for establishing a new generation of excitement in Las Vegas! Our 24 destinations are renowned for their winning combination of quality entertainment, luxurious facilities and exceptional customer service. Our dedicated staff of over 70,000 employees are committed to providing an unsurpassed experience for every one of our guests. We are actively expanding our presence globally, with potential developments in a number of domestic and international markets. At MGM
Introduction of the Company
MGM Mirage is one of the largest gaming industries in the United States and specifically Las Vegas, Nevada. The two people responsible for the start of this empire are Kirk Kerkorian and Steven Wynn. Kirk Kerkorian opened up the first MGM Grand in Las Vegas, Nevada in 1973. Steven Wynn moved to Las Vegas in 1967 and after investing in land on the strip he later opened up the Mirage, followed by Treasure Island and the Bellagio. The MGM Mirage was created during the merger in 2000, and Steven Wynn is no longer affiliated with this company. Since this merger, MGM Mirage has grown and acquired numerous other properties. Currently MGM Mirage acts as a holding company and conducts operation through its wholly owned subsidiaries. The MGM Mirage owns many of the large hotels and casinos on the Las Vegas strip, all which provide restaurants and some the largest entertainment in the world. In 2006 MGM Mirage had $7 Billion in revenues and $600 Million net profits.
Mission Statement
MGM Mirage’s mission statement that is posted on their website is “Our mission is to deliver our winning combination of quality entertainment, luxurious facilities and exceptional customer service to every corner of the world in order to enhance shareholder value and to sustain employee, customer and community relationships.” The mission statement that is stated in the text book is “The resorts and casinos of MGM Mirage are some of the most famous in the world, widely credited for establishing a new generation of excitement in Las Vegas! Our 24 destinations are renowned for their winning combination of quality entertainment, luxurious facilities and exceptional customer service. Our dedicated staff of over 70,000 employees are committed to providing an unsurpassed experience for every one of our guests. We are actively expanding our presence globally, with potential developments in a number of domestic and international markets. At MGM
References: WWW.MGMRESORTS.COM WWW.FINANCE.YAHOO.COM WWW.HOOVERS.COM WWW.MGMMIRAGEAFFILIATES.COM WWW.CITYCENTER.COM