A casino is a facility for certain types of gambling . Casinos are often built near or combined with hotels , resorts , restaurants , retail shops , cruise ships , and other tourist attractions. Some casinos are also known for hosting live entertainment, such as stand-up comedy, concerts, and sports.
120-806: Treasure Island Hotel and Casino (also known as Treasure Island Las Vegas and " TI ") is a pirate-themed hotel and casino located on the Las Vegas Strip in Paradise, Nevada , U.S. It includes 2,885 rooms and a 47,927 sq ft (4,452.6 m) casino. The resort is owned and operated by businessman Phil Ruffin . Treasure Island was developed by casino owner Steve Wynn through his company, Mirage Resorts . Project designers included Joel Bergman and Jon Jerde . Wynn announced Treasure Island in October 1991, and construction began four months later. The resort opened on October 26, 1993. Treasure Island
240-532: A $ 1-billion resort in National Harbor, Maryland and a $ 950-million resort in downtown Springfield, Massachusetts . In May 2014, the company broke ground on the $ 375-million T-Mobile Arena located behind New-New York Hotel and Casino, in partnership with AEG Live . The arena opened on April 6, 2016. MGM sold several properties in 2015, including the Railroad Pass Casino ,
360-579: A Señor Frog's restaurant and bar to complement Kahunaville and Gilley's. It replaced Christian Audigier and Khotan, the latter relocating elsewhere in the resort. Another new restaurant, Seafood Shack, also opened in 2012. Its interior was created with recycled materials, including reclaimed wood which lines the walls. The restaurant's centerpiece is an anchor pulled from the Atlantic Ocean. The resort also has Phil's Steak House, named after Ruffin. Kahunaville closed in 2016. Treasure Island opened with
480-413: A constitutional monarchy . In military and non-military usage, a casino (Spanish) or Kasino (German) is an officers' mess . The precise origin of gambling is unknown. It is generally believed that gambling in some form or another has been seen in almost every society in history. From Ancient Mesopotamia , Greeks and Romans to Napoleon's France and Elizabethan England , much of history
600-417: A cybersecurity attack by the hacking group Scattered Spider . The company refused to pay a ransom to the hackers, and stated that its losses of $ 100 million would be covered by cyber insurance . As a result of the cyberattack, multiple class action lawsuits were filed against MGM Resorts as well as Caesars Entertainment , which Scattered Spider had hacked into during the same month, with all stating that
720-440: A $ 4 million renovation in 2012. Four years later, the space was expanded to 30,500 sq ft (2,830 m). In 2013, the resort announced plans to build a three-story mall, replacing the northern portion of the pirate lagoon area. It was completed two years later, and includes a CVS Pharmacy on the first floor. At the end of 2015, the resort announced that it would lease the upper floors to Victory Hill Exhibitions. In 2016,
840-679: A $ 525-million offer for its interest in MotorCity from Marian Ilitch , the casino's second largest shareholder. Meanwhile, in Illinois, where MGM needed regulatory approval to take over Mandalay's 50 percent interest in the Grand Victoria Casino , a lack of quorum on the state Gaming Board threatened to delay the merger. MGM considered a sale to the casino's other owner, the Pritzker family , but ultimately gained approval for
960-537: A $ 7.9 billion deal. MGM executives were confident that antitrust regulators would not require the sale of any of the two companies' properties. Michigan law, however, forbade one company from owning multiple casinos, requiring the sale of either the MGM Grand Detroit or Mandalay's 54 percent stake in the MotorCity Casino . After some vacillation about which property to sell, Mandalay accepted
1080-657: A $ 92 million renovation of them shortly before selling the resort to Ruffin. A rooftop swamp cooler caught fire in July 2012, sending smoke through hallways of the upper hotel floors, which were evacuated. The fire caused $ 20,000 in damage, but resulted in only minor injuries for guests. Ruffin is a business partner of Donald Trump 's and a supporter of his presidential campaign. Trump has held several campaign rallies at Treasure Island, including one in 2016 during which an audience member attempted to assassinate him. In 2019, Treasure Island's hotel joined Radisson Hotel Group . Under
1200-536: A 1,600-seat theater, designed by Scéno Plus . To maximize use of the Mystère theater, Ruffin signed entertainers to perform there on nights when the show is not running. Such entertainers have included Bill Cosby , LeAnn Rimes , and Sinbad . The resort has also hosted boxing matches. An hour-long promotional program, Treasure Island: The Adventure Begins , aired on NBC in January 1994. It stars Corey Carrier as
1320-483: A 12-year-old on vacation with his parents at the resort. There, he meets and teams up with Long John Silver ( Anthony Zerbe ) to find lost treasure. Mirage Resorts paid NBC $ 1.7 million to air the program. It was directed and produced by Scott Garen, and written by James V. Hart . The special includes an appearance by Wynn, and incorporates the Dunes' implosion as its climax. The program received low viewership ratings, and
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#17327840294271440-629: A 36-story tower. As part of the 2003 transformation, the tower was given a darker paint color, using 6,200 gallons of terra cotta /"Salmon Stream" paint, replacing an earlier pink coloring. Treasure Island received a Four Diamond Award every year from 1999 to 2013. Tangerine, a nightclub featuring an orange and white interior, operated from 2004 to 2007. Fashion designer Christian Audigier opened an eponymous nightclub at Treasure Island in 2008, in partnership with Pure Management Group. The decor included rhinestone-encrusted skulls and two large tanks containing jellyfish. Audigier said, "When you're going into
1560-460: A 50 percent stake in MGM's CityCenter project. Dubai World would pay MGM Mirage an additional $ 100 million if the project opened on time and on budget. The investment firm would buy 14.2 million shares from MGM Mirage. The firm would also issue a public tender for an additional 14.2 million shares at the same price. On October 29, 2008, MGM Mirage halted a $ 5 billion Atlantic City project on land next to
1680-1041: A Schleswig-Holstein licence. AWPs are governed by federal law – the Trade Regulation Act and the Gaming Ordinance. The Casino Estoril , located in the municipality of Cascais , on the Portuguese Riviera , near Lisbon , is the largest casino in Europe by capacity. During the World War II , it was reputed to be a gathering point for spies , dispossessed royals , and wartime adventurers; it became an inspiration for Ian Fleming 's James Bond 007 novel Casino Royale . There are four legal gaming zones in Russia: "Siberian Coin" (Altay), "Yantarnaya" (Kaliningrad region), "Azov-city" (Rostov region) and "Primorie" (Primorie region). Singapore
1800-633: A bid on one of the three available gaming licenses, which would eventually be approved and open in July 1999 as the MGM Grand Detroit . In South Africa , with casino gambling newly authorized, MGM announced plans in August 1996 to develop 15 properties in conjunction with Tsogo Sun . The first, a temporary casino in Johannesburg 's Sundome , opened in October 1998. Three more casinos followed before MGM agreed to sell out its interest in
1920-529: A bidding war, with MGM finally losing out to an investors group including Kerzner International. The Triangle Casino was sold off to Stanley Leisure in 2006. The company's other development plans were scuttled as the government scaled down, and eventually abandoned, the plan to allow large " super-casinos ". In 2004, the company disposed of some of its smaller properties, selling the two Golden Nugget casinos ( Golden Nugget Las Vegas and Golden Nugget Laughlin ) to Poster Financial Group for $ 215 million, and
2040-416: A casino, and a shopping mall. The Boardwalk was closed in January 2006 to make way for the redevelopment, and CityCenter construction began the following June. Singapore emerged in 2004 as the next major new Asian gaming market, calling for proposals to build two " integrated resort " casinos at Marina Bay and the island of Sentosa . MGM partnered with CapitaLand in an estimated $ 3 billion bid for
2160-403: A club, you want to see sparkling and glitter and rhinestones". Christian Audigier did not perform as well as Ruffin would have liked, prompting its closure in 2010. Ruffin's other changes included a $ 3 million makeover of the spa, with renovations overseen by his wife Oleksandra Nikolayenko . At one point, Treasure Island had 18,000 sq ft (1,700 m) of convention space, which received
2280-446: A full-scale, crewed British Royal Navy sailing ship that sailed nearly the full width of the property, a gas-fired "powder magazine" explosion, pyrotechnics, and the sinking of the sailing ship Brittania along with its captain. Battle of Buccaneer Bay held its final performance on July 6, 2003, with a total of 16,334 shows performed over the course of nearly 10 years. It ended as part of the resort's ongoing revamp, which would include
2400-665: A half share of the Monte Carlo . The company changed its name to MGM Mirage in August 2000. Mirage had also owned a half stake in the Borgata , a planned casino in Atlantic City, in a joint venture managed by Boyd Gaming . Work on the Borgata continued apace, and it would open in July 2003. In 2001 and 2002, following the merger with Mirage, the company explored options for its next major development project, including in
2520-1115: A license to run an online sports betting site in the U.K. It acquired a twenty-five percent stake in a company developing the small Triangle Casino in Bristol , which went on to open its doors in February 2004. It inked deals to build casinos at the Olympia Exhibition Centre in London, St James' Park in Newcastle, Meadowhall Shopping Centre in Sheffield, the National Exhibition Centre in Birmingham, Sportcity in Manchester, Glasgow Harbour , King's Waterfront in Liverpool, and at
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#17327840294272640-403: A major revamp to transform the resort into a more sophisticated property aimed primarily at adults, although children would still be welcomed. Describing the resort's transformation, Treasure Island president Scott Sibella said, "We've seen a return of Las Vegas to its roots as an adult destination. As the city has evolved, so too has Treasure Island." He said, "We've evolved from a yo-ho-ho feel to
2760-519: A marketing campaign for TI in June 2003, including advertisements in various publications. MGM struggled financially during the Great Recession , and businessman Phil Ruffin made an offer to buy Treasure Island. MGM accepted and announced the deal at the end of 2008. The purchase was finalized on March 20, 2009, at a cost of $ 755 million. At the time, Treasure Island was the only hotel-casino on
2880-462: A middle-class clientele, making various changes to appeal to the demographic. He added two signature restaurants: Gilley's Saloon in 2010, and Señor Frog's in 2012. The pirate shows ended the following year, although the ships remain on display. In 1986, casino owner Steve Wynn purchased property on the Las Vegas Strip extending north to Spring Mountain Road . He opened a resort, The Mirage , on
3000-478: A middle-class clientele, unlike the Mirage. Groundbreaking took place on March 2, 1992, earlier than anticipated. Construction was originally expected to cost $ 300 million, but the final cost rose to $ 430 million. Employees and their families stayed at Treasure Island a couple days before the opening to put the resort through a trial run. Treasure Island opened to the public at 10:00 p.m. on October 26, 1993, following
3120-416: A more sophisticated feel. We want to change the exterior to introduce the outside to what we've already done inside." As part of the revamp, Treasure Island began using the abbreviated name "TI". Sibella described the new name as trendy and sexy, and said it was a name that residents and guests already used. He compared the abbreviated name to the former Desert Inn resort, also known as "D.I." MGM Mirage began
3240-632: A naturalization ceremony for 93 workers. It was the first Las Vegas resort to hold such an event. A man robbed the casino twice in 2000, stealing more than $ 30,000. He was arrested after a failed third attempt, during which he shot a security guard. He was sentenced to 130 years in prison. The Prairie Island Indian Community , owners of a Treasure Island casino resort in Minnesota, filed a $ 250 million damages lawsuit against Mirage Resorts in May 2000. The suit alleged that Wynn violated trademark law by using
3360-569: A new real estate investment trust (REIT) with ownership of ten of the company's casinos; the parent company would continue to operate the casinos under a lease agreement. The offering raised $ 1.05 billion, and left MGM Resorts with 76 percent ownership of the REIT. In June 2016, MGM announced a joint venture with Sydell Group to renovate and rebrand the Monte Carlo as the Park MGM, named after
3480-431: A new pirate show. Sibella described the original show as something that would be expected at Disneyland , while calling its successor a "sexy and beautiful, adult Broadway-caliber show." The new Sirens of TI pirate show debuted in October 2003, marking the resort's 10th anniversary. The Buccaneer Bay was renamed Sirens' Cove and the new show utilized many of the technical elements of its predecessor. The live, free show
3600-488: A noisy environment; a gaming house is spelt casinò , with an accent . Not all casinos are used for gaming. The Catalina Casino , on Santa Catalina Island, California , has never been used for traditional games of chance, which were already outlawed in California by the time it was built. The Copenhagen Casino was a Danish theatre which also held public meetings during the 1848 Revolution , which made Denmark
3720-466: A pirate theme. It is named after the 1880s novel Treasure Island by Robert Louis Stevenson . The resort was designed by Joel Bergman , who previously designed the Mirage. Bergman designed the Treasure Island tower with a floorplan that branched out three ways in a Y-shape, with elevators in the center. This was done for convenience to guests, making the walk to their rooms brief. The Y-shape
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3840-516: A pizzeria by the same name, stating, "It's quick and it's cheap and that's what people are looking for these days". Ruffin also replaced Social House with his own Asian restaurant, Khotan, featuring jade and ivory antiques from his personal collection. In 2010, he opened Gilley's Saloon , a popular Western-themed restaurant, bar and dance hall. It previously operated at Ruffin's New Frontier hotel-casino, which closed in 2007. The new location replaced Treasure Island's Mist Lounge. In 2012, Ruffin opened
3960-401: A plan to place the property under control of a trustee until completion of the licensing process. The FTC approved the merger as predicted, and MGM obtained a $ 7 billion line of credit to finance it. The sale closed on April 25, 2005 for a total of $ 7.9 billion, including $ 3 billion in assumed debt. The Mandalay acquisition made MGM Mirage the largest gaming company in the world, but it
4080-534: A pleasant albeit unidentifiable odor released by Las Vegas slot machines generated about 50% more in daily revenue. He suggested that the scent acted as an aphrodisiac, causing a more aggressive form of gambling. The following lists major casino markets in the world with casino revenue of over US$ 1 billion as published in PricewaterhouseCoopers 's report on the outlook for the global casino market: According to Bloomberg , accumulated revenue of
4200-433: A private opening for VIPs, including Nevada governor Bob Miller . The resort's facade featured a free pirate show taking place in a man-made lagoon. Wynn's other Strip resort, the shuttered Dunes , was imploded the following night in a grand ceremony which incorporated the pirate show. One of the ships fired its cannon as the implosion began, simulating the resort's destruction by cannonballs. In 1996, Treasure Island hosted
4320-653: A proposed stadium in Salford . The company also signed a $ 490-million deal to acquire Wembley plc, owner of seven greyhound tracks in Britain and four in the United States. The British expansion plans ultimately amounted to nothing. MGM closed its online casino after less than two years, citing uncertainty in American regulations and competition from established British brands. The Wembley acquisition turned into
4440-827: A rise in the number of casinos outside of Las Vegas and Atlantic City. In Vietnam , the term "casinos" encompasses gambling activities within the country . Unofficially defined, a "casino" typically denotes a well-established and professional gambling establishment that is generally lawful but exclusively caters to foreign players. On the other hand, "gambling houses" or "gambling dens" are smaller, illicit gambling venues. As of 2022, Vietnam has 9 operating casinos, including: Đồ Sơn casino (Hải Phòng), Lợi Lai casino, Hoàng Gia casino ( Quảng Ninh ), Hồng Vận casino ( Quảng Ninh ), Lào Cai casino ( Lào Cai ), Silver Shores casino (Đà Nẵng), Hồ Tràm casino (Bà Rịa – Vũng Tàu), Nam Hội An casino (Quảng Nam), Phú Quốc casino in Kien Giang . In
4560-547: A survey conducted by the Vietnamese Institute for Sustainable Regional Development and released on September 30, 2015, it was found that 71% of the respondents held the belief that allowing Vietnamese individuals to access casinos would result in an increase in the number of players. Furthermore, 47.4% of the participants expressed the view that engaging in rewarding recreational activities has a positive impact on job opportunities for residents. Additionally, 46.2% of
4680-473: Is 65 feet deep, and originally contained 2 million gallons of water. It uses wastewater recycled from a water treatment plant located beneath the resort's parking garage. A maintenance team, including divers, works to keep the lagoon clean. According to interior designer Roger Thomas, "We thought it would be great fun to create a pirate village with sinking ships and pyrotechnics. The day after it opened we all looked at each other and said, 'What have we done? This
4800-467: Is an up-and-coming destination for visitors wanting to gamble, although there are currently only two casinos (both foreign owned), in Singapore. The Marina Bay Sands is the second most expensive standalone casino in the world, at a price of US$ 6.8 billion, and is among the world's ten most expensive buildings . With currently over 1,000 casinos, the United States has the largest number of casinos in
4920-554: Is based on real people and events; however, many of those events are contested by main character Semyon Dukach . Monte Carlo Casino has also been featured in multiple James Bond novels and films. The casino is mentioned in the song " The Man Who Broke the Bank at Monte Carlo " as well as the film of the same name . Casinò di Campione is located in the tiny Italian enclave of Campione d'Italia , within Ticino , Switzerland. The casino
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5040-631: Is different. Most casinos do not meet the requirements for certain protective measures, such as protection against airborne metal dusts from coins or hearing protection against high noise levels, though these measures are still implemented when evaluated and determined necessary. MGM Mirage MGM Resorts International is an American hospitality and entertainment company. It operates resorts in Las Vegas , Massachusetts , Michigan , Mississippi , Maryland , Ohio , New Jersey , Macau , Shanghai , Chengdu , Hangzhou and Sanya , including
5160-696: Is filled with stories of entertainment based on games of chance. The first known European gambling house, not called a casino although meeting the modern definition, was the Ridotto , established in Venice , Italy, in 1638 by the Great Council of Venice to provide controlled gambling during the carnival season. It was closed in 1774 as the city government felt it was impoverishing the local gentry . In American history, early gambling establishments were known as saloons . The creation and importance of saloons
5280-489: Is so not us'". Executives realized that the resort's heavy pirate theme did not appeal to people interested in a weekend getaway. By 1998, efforts had begun to downplay the theme. Mirage conducted focus group testing to determine upcoming renovation plans for Treasure Island. A $ 60 million remodeling of the hotel rooms took place in 1999. The resort initially included a roadside sign featuring an 8,000-pound pirate skull, made of fiberglass and measuring 27 1/2 feet. The skull sign
5400-485: Is usually divided between a physical security force and a specialized surveillance department. The physical security force usually patrols the casino and responds to calls for assistance and reports of suspicious or definite criminal activity. A specialized surveillance department operates the casino's closed-circuit-television system, known in the industry as the eye in the sky . Both of these specialized casino security departments work very closely with each other to ensure
5520-636: The American Mafia and in Macau by Triad syndicates . According to some police reports, local incidence of reported crime often doubles or triples within three years of a casino's opening. In a 2004 report by the US Department of Justice, researchers interviewed people who had been arrested in Las Vegas and Des Moines and found that the percentage of problem or pathological gamblers among
5640-591: The Bellagio , Mandalay Bay , MGM Grand and Park MGM . The company began operations in 1987 as MGM Grand, Inc. and became MGM Mirage in 2000, after acquiring Mirage Resorts . In the mid-2000s, growth of its non-gaming (lodging, food, retail) revenue began to outpace gaming receipts and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average. The company shifted its focus from owning and operating resorts and casinos to developing and building real estate in
5760-637: The Gold Strike , and properties in Reno ( Circus Circus Reno and a 50 percent stake in the Silver Legacy ) were sold to Eldorado Resorts for $ 72.5 million. In April 2016, MGM sold The Shops at Crystals , the high-end mall in CityCenter, to Invesco Real Estate and Simon Property Group for $ 1.1 billion. In April 2016, MGM held an initial public offering for MGM Growth Properties (MGP),
5880-552: The Las Vegas , Atlantic City , Chicago , and Macau markets. The 55-acre site of the Boardwalk casino on the Las Vegas Strip was earmarked for a technologically advanced megaresort targeting a Generation X demographic. In Atlantic City, MGM shifted focus from its previously announced boardwalk site to a proposed billion-dollar hotel and casino on a 55-acre tract adjacent to the Borgata, where Wynn had planned to build
6000-767: The MGM Collection With Marriott Bonvoy . The new partnership will see four of MGM's properties fully affiliated with Marriott brands beginning in late 2023. The Bellagio will join The Luxury Collection division of Marriott, the Park MGM will join Marriott's Tribute Portfolio , and the Aria will join Marriott's Autograph Collection, which The Cosmopolitan has been a member of since its opening. In September 2023, MGM's hotel and casino operations were disrupted for several days during
6120-630: The MGM Grand Darwin to Skycity Entertainment for $ 140 million. MGM entered into quiet merger talks with Mandalay Resort Group in early 2004. The potential acquisition would give MGM control of more than half the hotel rooms on the Las Vegas Strip. Mandalay assets attractive to MGM included low-end casinos like Excalibur and Circus Circus to broaden MGM's "high roller" appeal; the Mandalay Bay Convention Center , which would allow MGM to compete directly with
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#17327840294276240-617: The Massachusetts Institute of Technology , highlights the decision of the audio directors at Silicon Gaming to make its slot machines resonate in "the universally pleasant tone of C, sampling existing casino soundscapes to create a sound that would please but not clash". Alan Hirsch, founder of the Smell & Taste Treatment and Research Foundation in Chicago , studied the impact of certain scents on gamblers, discerning that
6360-557: The Primm Valley Resorts were sold for $ 400 million, and the Nevada Landing Hotel and Casino was closed. On April 19, 2007 the company announced that it planned to purchase a 7.6-acre (31,000 m ) site from Concord Wilshire Partners for $ 130 million and a 25.8-acre (104,000 m ) site from Gordon Gaming for $ 444 million. The two parcels give the company complete control of the southwest corner of
6480-787: The San Antonio Stars of the Women's National Basketball Association . The team was moved to Mandalay Bay Events Center and began play as the Las Vegas Aces in 2018. In August 2018, MGM and Hyatt sold the Grand Victoria Casino to Eldorado Resorts for $ 328 million. In January 2019, MGM bought Yonkers Raceway and Empire City Casino in New York from the Rooney family for $ 850 million, and then immediately sold
6600-566: The Sands Expo center in the convention market; and at least two prime developable sites on the Strip. The talks went public in June, when MGM announced an offer worth $ 7.65 billion. Mandalay rejected that offer because of a clause allowing MGM to back out if antitrust regulators demanded the sale of any properties. Analysts speculated that another bidder such as Harrah's or Boyd might enter, but none did, and MGM and Mandalay soon agreed on
6720-479: The "Treasure Island" name for his own casino resort. The suit also requested that Wynn be barred from using the name, which Wynn said he registered in 1993. Wynn departed Mirage Resorts in 2000, when it was acquired by MGM Grand Inc., later renamed MGM Mirage . Treasure Island's family amenities included the pirate show and an arcade. However, the pirate theme and family appeal would be gradually scaled back in subsequent years. In April 2003, Treasure Island announced
6840-696: The Beau Rivage. In June 2010, MGM Mirage changed its name to "MGM Resorts International", to emphasize the brand's global scope and increased non-gaming strategy. In May 2011 an initial public offering was held for the MGM Macau property through a new holding company, MGM China. MGM retained a 51 percent interest in the company, with Pansy Ho holding a 29 percent stake, and 20 percent sold to public investors for $ 1.5 billion. In January 2013, MGM China received government approval to build its second resort in Macau. In 2013, MGM won state licenses to build
6960-551: The Borgata. At about the same time, New Jersey gambling regulators were evaluating MGM Mirage's suitability to operate casinos in New Jersey, and were unconvinced that MGM Mirage's Macau partner, Pansy Ho, could operate independently from influence of her father, Stanley Ho. The latter was often accused of ties with Chinese organized crime and letting the gangs operate in his casinos' VIP rooms. Faced with not complying with New Jersey gaming regulations, MGM Mirage decided to divest
7080-708: The Chinese island of Hainan was announced in August 1994, but came to nothing. In Darwin, Australia , a lucrative market attracting high rollers from Pacific Rim countries, the company considered building a hotel, but instead bought the Diamond Beach Hotel and Casino , renaming it as the MGM Grand Darwin. MGM announced plans for an Atlantic City casino in July 1996. In Michigan, where voters approved casinos in November 1996, MGM made plans for
7200-426: The Le Jardin casino. In the Chicago market, MGM agreed to pay $ 600 million to buy the unfinished Emerald Casino in Rosemont, Illinois , whose investors had been accused of ties to organized crime. The deal was rejected, however, by state gaming regulators, and MGM then backed off its effort, saying that Illinois's casino tax was too high. In Macau, where Stanley Ho 's 40-year government-granted monopoly on gambling
7320-440: The MGM Grand name. A deal was reached for Bally Manufacturing to buy the company; the deal closed in April 1986, and the two casinos were renamed under the Bally's brand. The terms of the sale allowed Kerkorian to retain rights to the MGM Grand name, and plans were announced to offer the stockholders of MGM Grand Hotels shares in a new company that would hold the naming rights. The company now known as MGM Resorts International
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#17327840294277440-603: The MGM Grand, the company acquired an option to buy an 18-acre site across the street from the project. Gary Primm of Primadonna Resorts approached MGM president Bob Maxey in 1994 with an idea for the site: a casino recreating the New York skyline. A joint venture was formed between the two companies, and construction began in March 1995. Completed at a cost of $ 460 million, the New York-New York Hotel and Casino opened in January 1997. With New York-New York under development, MGM Grand made moves to expand in several other markets. An exploratory agreement to develop two casinos on
7560-427: The Marina Bay site. Their bid advanced to the final stage against three competitors, and was seen as the favorite to win. The government awarded the license, however, to Las Vegas Sands , citing its strength in the meetings and conventions sector. In 2007, MGM Mirage disposed of some outlying properties in Southern Nevada. The two Laughlin casinos (the Colorado Belle and Edgewater ) were sold for $ 200 million,
7680-456: The Nevada–California state line, in addition to full control of New York-New York. In February 2000, MGM Grand made an unsolicited offer of $ 17 a share to buy Mirage Resorts , which had floundered due to disappointing results at its new Beau Rivage and Bellagio resorts. Analysts expected a protracted battle, with Mirage founder Steve Wynn seen as unwilling to give up control but under pressure from institutional investors. Mirage rejected
7800-422: The Sahara and Las Vegas Boulevard intersection. When combined with underused parts of the Circus Circus site, the company will have a 68-acre (280,000 m ) site for future development. The Concord site had been the proposed location for the Maxim Casino . On August 22, 2007, Dubai World said it would buy a 9.5 percent stake in MGM for about $ 2.4 billion. It would also invest about $ 2.7 billion to acquire
7920-419: The Strip to be owned by a single individual, as others are corporate-owned. Because of the sale, Treasure Island was removed from MGM's extensive customer database. Later that year, the resort joined K Hotels, a worldwide collection of approximately 50 hotels. Amid the recession, Ruffin spent $ 20 million on various changes to target a middle-class clientele. The hotel rooms were left untouched, as MGM had conducted
8040-435: The US's second largest gambling city. Most jurisdictions worldwide have a minimum gambling age of 18 to 21. Customers gamble by playing games of chance , in some cases with an element of skill, such as craps , roulette , baccarat , blackjack , and video poker . Most games have mathematically determined odds that ensure the house has at all times an advantage over the players. This can be expressed more precisely by
8160-453: The United States say that a player staking money won from the casino is "playing with the house's money". Video lottery machines ( slot machines ) have become one of the most popular forms of gambling in casinos. As of 2011 investigative reports have started calling into question whether the modern-day slot-machine is addictive. Factors influencing gambling tendencies include sound, odour and lighting. Natasha Dow Schüll, an anthropologist at
8280-442: The adjacent dining and entertainment district, The Park, that opened in April 2016. In August 2016, MGM bought out Boyd Gaming's interest in the Borgata for $ 900 million, and then sold the property to MGP for $ 1.2 billion and leased it back for $ 100 million per year. In 2017, MGM launched two online ventures under the PlayMGM brand: an online sportsbook in Nevada, and an online casino in New Jersey. In October 2017, MGM purchased
8400-418: The agreement, the resort kept its name and exterior signage. Room renovations began that year. State casinos were temporarily closed in 2020, due to the COVID-19 pandemic in Nevada , and the closure allowed planned renovations across the resort to accelerate. Among the additions was an expanded sportsbook. Treasure Island includes a 47,927 sq ft (4,452.6 m) casino, and has 2,885 rooms, located in
8520-405: The arrestees was three to five times higher than in the general population. It has been said that economic studies showing a positive relationship between casinos and crime usually fail to consider the visiting population: they count crimes committed by visitors but do not count visitors in the population measure, which overstates the crime rate. Part of the reason this methodology is used, despite
8640-452: The biggest casino operator companies worldwide amounted to almost US$ 55 billion in 2011. SJM Holdings Ltd. was the leading company in this field, earning $ 9.7 bn in 2011, followed by Las Vegas Sands Corp. at $ 7.4 bn. The third-biggest casino operator company (based on revenue) was Caesars Entertainment , with revenue of US$ 6.2 bn. While there are casinos in many places, a few places have become well known specifically for gambling. Perhaps
8760-642: The cards they are holding in their hands visible at all times. Over the past few decades, casinos have developed many different marketing techniques for attracting and maintaining loyal patrons. Many casinos use a loyalty rewards program used to track players' spending habits and target their patrons more effectively, by sending mailings with free slot play and other promotions. Casino Helsinki in Helsinki , Finland, for example, donates all of its profits to charity. Casinos have been linked to organised crime , with early casinos in Las Vegas originally dominated by
8880-634: The company announced plans for a $ 700-million Hollywood-themed complex, including a 4,000-room hotel and a theme park. The Desert Inn site was initially considered as a location for the project, but within weeks the location was finalized as the Marina Hotel and Casino and the Tropicana Country Club , which MGM Grand acquired for $ 93 million plus $ 30 million in stock. The company put the Desert Inn up for sale to focus efforts on
9000-422: The company filed its annual report stating that "there is substantial doubt about our ability to continue as a going concern," and "it cannot provide assurance that its business would generate sufficient cash flow from operation." Starting on April 6, 2009 news reports surfaced that MGM Mirage had hired investment firm Morgan Stanley to assist the company in finding possible buyers for the MGM Grand Detroit and
9120-536: The company opened the Avengers S.T.A.T.I.O.N. , an interactive self-guided exhibit based on the Marvel Cinematic Universe . The Mirage-Treasure Island Tram traveled between the two resorts. It ceased operations in June 2024 prior to The Mirage's closing on July 17, 2024. Various themes were considered for the resort, until a friend of Wynn's suggested the name "Treasure Island", resulting in
9240-605: The company split into two forming MGM Growth Properties , a real estate company, while MGM Resorts shifted to operating properties. Today, MGM Resorts is the largest casino company in the world by revenue, making $ 13.13 billion USD in revenue in 2022. The company's background can be traced to 1969, when airline and casino tycoon Kirk Kerkorian bought a controlling stake in the Metro-Goldwyn-Mayer (MGM) film studio. In 1970 and 1971, Kerkorian struggled with debt from his acquisitions of MGM and Western Airlines , and
9360-479: The free Battle of Buccaneer Bay pirate show, performed in the lagoon along the Strip. The 15-minute show was performed several times a day and featured 22 actors. It depicted the landing and subsequent sacking of a Caribbean village by pirates, serving to attract customers from the Strip and into the resort after each show in the same fashion as the volcano fronting the Mirage resort. Notable special effects included
9480-637: The grounds of a larger Italian villa or palazzo , and were used to host civic town functions, including dancing, gambling, music listening, and sports. Examples in Italy include Villa Farnese and Villa Giulia , and in the US the Newport Casino in Newport, Rhode Island . In modern-day Italian, a casino is a brothel (also called casa chiusa , literally "closed house"), a mess (confusing situation), or
9600-442: The highly profitable Borgata in order to continue pursuing the even more lucrative Chinese market. MGM Mirage subsequently transferred its 50% share in the Borgata to a divestiture trust through which it received all benefit of the ownership. The trust was responsible for selling MGM's interest within 30 months, although MGM had the right to direct the trustee during the first 18 months. On December 16, 2008, MGM Mirage announced
9720-633: The historic casino located at the princely residence of Dragonara . Dragonara Palace was built in 1870. Its name comes from the Dragonara Point, the peninsula where it is built. On 15 July 1964, the palace opened as a casino. The former Portuguese colony of Macau , a special administrative region of the People's Republic of China since 1999, is a popular destination for visitors who wish to gamble. This started in Portuguese times, when Macau
9840-399: The idea because of the alleged involvement of organized crime triads in his casinos. Another possibility emerged when the government allowed the three gaming concessionaires to each sell a sub-concession. In June 2004, MGM formed a joint venture with Pansy Ho , Stanley's daughter, to develop a casino-hotel under a sub-concession from Stanley. Despite initial concerns about whether Pansy Ho
9960-403: The imposition of taxes, or obtaining of other revenue. In 2007, the casino moved into new premises of more than 55,000 square metres (590,000 sq ft), making it the largest casino in Europe. The new casino was built alongside the old one, which dated from 1933 and has since been demolished. The archipelago of Malta is a particularly famous place for casinos, standing out mainly with
10080-553: The lagoon, and are lit up at night. Treasure Island is home to Cirque du Soleil 's Mystère , which introduced the entertainment style of Franco Dragone . It opened on December 25, 1993, and has been voted nine times as the best production show in the city by the Las Vegas Review-Journal reader's poll. It is Cirque's longest-running Las Vegas show, reaching 13,000 performances in 2022. Mystère has been updated several times throughout its run. It takes place in
10200-488: The land and buildings to MGP for $ 625 million, and leased them back for $ 50 million per year. In 2019, MGM sold two resorts on the Las Vegas strip: Bellagio and Circus Circus. They sold their real estate assets of Bellagio to Blackstone Group while selling Circus Circus to Phil Ruffin. In 2020, they sold their real estate assets of MGM Grand and Mandalay Bay to a joint venture between Blackstone and MGP. In 2021, MGM bought 50% of Dubai World’s share of CityCenter and sold
10320-438: The largest concentration of casinos in the United States. Based on revenue, Atlantic City, New Jersey , ranks second, and the Chicago region third. Top American casino markets by revenue (2022 annual revenues): The Nevada Gaming Control Board divides Clark County , which is coextensive with the Las Vegas metropolitan area, into seven market regions for reporting purposes. Native American gaming has been responsible for
10440-465: The leisure and gaming industry—launching the massive CityCenter mixed-use project, which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history. City Center's development coincided with the global financial crisis , causing more than $ 1 billion in writedowns in its valuation. Billionaire investor Kirk Kerkorian and his Tracinda Corporation were, until 2009,
10560-420: The majority shareholders of MGM Mirage; Kerkorian was the former owner of the Metro-Goldwyn-Mayer movie studio, from which MGM Grand derived its name. Following a $ 1 billion stock offering by MGM Mirage amidst the global credit crunch, Tracinda's shares were diluted from 53.8 percent to 39 percent. On June 15, 2010, shareholders voted for MGM Mirage to change its name to "MGM Resorts International". In 2015,
10680-651: The new project, but found no outside bidders, and agreed to sell it to Tracinda for $ 130 million. Construction on the MGM Grand Las Vegas and the MGM Grand Adventures theme park began in October 1991, and the property opened in December 1993 at a final cost of $ 1 billion. The park permanently closed in 2002 due to a lack of interest. The company moved its headquarters from Beverly Hills to Las Vegas in July 1992. During construction of
10800-405: The notion of expected value , which is uniformly negative (from the player's perspective). This advantage is called the house edge . In games such as poker where players play against each other, the house takes a commission called the rake . Casinos sometimes give out complimentary items or comps to gamblers. Payout is the percentage of funds ("winnings") returned to players. Casinos in
10920-596: The offer, but Wynn met with Kerkorian the next day and named a price of $ 21 a share. The companies agreed on the higher price, for a total of $ 4.4 billion plus $ 2 billion in assumed debt. The merger closed in May 2000, giving MGM ownership of the Mirage , Treasure Island , Bellagio, Boardwalk , and Golden Nugget casinos in Las Vegas, the Golden Nugget in Laughlin, and the Beau Rivage in Mississippi, and
11040-450: The overstatement, is that reliable data on tourist count are often not available. Casinos are subject to specific regulations for worker safety, as casino employees are both at greater risk for cancers resulting from exposure to second-hand tobacco smoke and musculoskeletal injuries from repetitive motions while running table games over many hours. These are not the extent of the hazards casino workers may be exposed to, but every location
11160-477: The place almost defined by its casino is Monte Carlo, but other places are known as gambling centers. Monte Carlo Casino , located in Monte Carlo city, in Monaco , is a casino and a tourist attraction. Monte Carlo Casino has been depicted in many books, including Ben Mezrich 's Busting Vegas , where a group of Massachusetts Institute of Technology students beat the casino out of nearly $ 1 million. This book
11280-504: The properties to Tsogo Sun in November 2001. Since the initiation of New York-New York, analysts had speculated that MGM Grand or Primadonna would buy out the other's interest in the project. Instead of making such a cash-intensive purchase, however, MGM agreed to buy Primadonna outright for $ 276 million in stock plus $ 336 million in assumed debt. The merger closed in March 1999, giving MGM ownership of three casinos and two golf courses at
11400-642: The real estate assets of Aria and Vdara to Blackstone and later purchased the operating assets of Cosmopolitan of Las Vegas and later sold the Mirage to Hard Rock International . Also in 2021, MGM would sell the Las Vegas Aces to Mark Davis , owner of the Las Vegas Raiders . In August 2020, MGM cut 18,000 job positions as a result of the effects of the COVID-19 pandemic . The job cuts represent one fourth of its workforce, which before
11520-463: The resort over the course of three years, and was auctioned in September 2003. Treasure Island opened with several restaurants, including Buccaneer Bay Club, which overlooked the lagoon and its pirate shows. Its menu included steak and seafood. A fine-dining Italian restaurant, Francesco's, was added in 1998. It featured artwork by celebrities such as Tony Bennett and Phyllis Diller . The arcade
11640-420: The respondents believed that such activities contribute positively to Vietnam's ability to attract investments. Given the large amounts of currency handled within a casino, both patrons and staff may be tempted to cheat and steal, in collusion or independently; most casinos have security measures to prevent this. Security cameras located throughout the casino are the most basic measure. Modern casino security
11760-596: The safety of both guests and the casino's assets, and have been quite successful in preventing crime. Some casinos also have catwalks in the ceiling above the casino floor, which allow surveillance personnel to look directly down, through one way glass, on the activities at the tables and slot machines. When it opened in 1989, The Mirage was the first casino to use cameras full-time on all table games. In addition to cameras and other technological measures, casinos also enforce security through rules of conduct and behavior; for example, players at card games are required to keep
11880-484: The sale of its Las Vegas Treasure Island resort and casino to billionaire Phil Ruffin . The sale was completed on March 20, 2009 for $ 600 million in cash plus a $ 175 million promissory note. On March 23, 2009 Dubai World and Infinity World announced that they had filed a lawsuit in the Delaware Chancery Court seeking to be released from their CityCenter joint venture agreement with MGM Mirage after
12000-436: The southern portion of the land in 1989. Wynn had always wanted to build a second casino on the remaining acreage, which was being used as a parking lot for the Mirage. Wynn's company, Mirage Resorts , announced the Treasure Island project on October 30, 1991. Like other new resorts in Las Vegas, Treasure Island was planned as a family-oriented property, taking advantage of the growing tourist demographic. It would also cater to
12120-649: The start of the pandemic was 68,000. MGM lobbied the Trump administration against giving federal approval for a casino operated by two native tribes in East Windsor, Connecticut. The casino would have provided competition to a MGM casino across the border in Massachusetts. In July 2023, MGM Resorts announced an agreement with Marriott International to bring its 17 properties within Marriott's global reservations system and its Bonvoy loyalty program, creating
12240-488: The two hotel-casinos accounted for most of MGM's income, and the company announced a plan to split itself in two. The next year, the film studio was spun off as a new company, while the original company, renamed as MGM Grand Hotels Inc., retained the two hotel-casinos. Kerkorian held a 47 percent stake in both companies. In 1985, Kerkorian began seeking a buyer for MGM Grand Hotels, to allow him to concentrate on running United Artists and on developing new properties under
12360-443: The world. The number continues to grow steadily as more states seek to legalize casinos. 40 states now have some form of casino gambling. Interstate competition, such as gaining tourism, has been a driving factor to continuous legalization. Relatively small places such as Las Vegas are best known for gambling; larger cities such as Chicago are not defined by their casinos in spite of the large turnover. The Las Vegas Valley has
12480-459: Was among several family-oriented resorts to open in Las Vegas during the 1990s, taking advantage of the growing tourist demographic. Treasure Island's facade was built with a lagoon containing two pirate ships. Free pirate battles were performed daily for spectators over the next two decades. The resort has also hosted Mystère since 1993, making it the longest-running show by Cirque du Soleil . In 2000, MGM Grand Inc. acquired Mirage Resorts and
12600-546: Was coming to an end, MGM submitted a bid for one of three available gaming concessions, but it was not selected, losing out to Ho, Las Vegas Sands , and Wynn Resorts . MGM made moves into the United Kingdom market after a 2001 government report called for loosening of the country's gambling regulations. It opened an online casino, playmgmmirage.com, licensed in the Isle of Man , a British dependency, and it applied for
12720-481: Was considered an infomercial by critics, who lambasted NBC for not labeling it as such. Treasure Island has been shown or referenced in other media as well: Casino Casino is of Italian origin; the root casa means a house. The term casino may mean a small country villa , summerhouse , or social club . During the 19th century, casino came to include other public buildings where pleasurable activities took place; such edifices were usually built on
12840-507: Was forced to sell a majority of his casino company, International Leisure, to Hilton Hotels at a steep discount. When the Las Vegas Hilton , the casino he had built, subsequently became the most successful hotel in Las Vegas, Kerkorian was inspired to lead the studio into the gambling industry. It opened the original MGM Grand Hotel and Casino (now Horseshoe Las Vegas) in 1973. The MGM Grand Reno followed in 1978. By 1979,
12960-406: Was formed in 1986 as Grand Name Co. as a subsidiary of Kerkorian's Tracinda Corporation . It was renamed in 1987 as MGM Grand, Inc. The company's first venture was MGM Grand Air , a luxury airline offering service between New York and Los Angeles, which launched in September 1987. The company also made an offer to take over financially struggling Pan American World Airways , but this offer
13080-519: Was founded in 1917 as a site to gather information from foreign diplomats during the First World War. Today it is owned by the Italian government, and operated by the municipality. With gambling laws being less strict than in Italy and Switzerland, it is among the most popular gambling destination besides Monte Carlo. The income from the casino is sufficient for the operation of Campione without
13200-541: Was greatly influenced by four major cities: New Orleans , St. Louis , Chicago and San Francisco . It was in the saloons that travelers could find people to talk to, drink with, and often gamble with. During the early 20th century in the US, gambling was outlawed by state legislation. However, in 1931, gambling was legalized throughout the state of Nevada , where the US's first legalized casinos were set up. In 1976 New Jersey allowed gambling in Atlantic City , now
13320-401: Was intended to appeal more to adults by including singing, dancing, audio-visual effects, bare-chested pirates and attractive women in the large outdoor show produced by Kenny Ortega . The original two ships were kept for the new show but repainted and altered, as well as some special effects. Sirens of TI was closed on October 21, 2013. The closure was initially intended to be temporary, but
13440-400: Was made permanent the following month, to the dismay of the show's actors. The reason cited by Treasure Island was the construction of the new retail space nearby. The shows had cost $ 5 million to put on annually. While Ruffin said the shows brought "a tremendous amount of attention" to Treasure Island, they amounted to minimal foot traffic inside the resort. The pirate ships remain on display in
13560-621: Was modeled after the Mirage hotel tower. Wynn's Atlandia Design worked with Jon Jerde and Olio Design to create the pirate village and lagoon area, originally known as Buccaneer Bay, and later as Siren's Cove. During the design phase, the hotel's lobby entrance was moved to the resort's south side, in order to maintain Buccaneer Bay's location on the east side along the Strip. Jerde's assistants traveled across Europe, India and Nepal searching for historic objects such as doors and columns, which were then replicated for Buccaneer Bay. The lagoon
13680-443: Was popular with visitors from nearby Hong Kong , where gambling was more closely regulated. The Venetian Macao is currently the largest casino in the world. Macau also surpassed Las Vegas as the largest gambling market in the world. Machine-based gaming is only permitted in land-based casinos, restaurants, bars and gaming halls, and only subject to a licence. Online slots are, at the moment, only permitted if they are operated under
13800-548: Was rejected by Pan Am's board in November 1987. In August 1987, MGM Grand bid $ 152 million for the bankrupt Dunes Hotel in Las Vegas, but was beat out by Japanese billionaire Masao Nangaku . Instead, the company acquired the Desert Inn and Sands casinos in February 1988 from Summa Corporation for $ 167 million. The Sands was sold to Sheldon Adelson 's Interface Group for $ 110 million in April 1989. In September 1989,
13920-489: Was removed on July 10, 2003, in a ceremony accompanied by fireworks. Sibella said, "It's a cool sign, but it needs to complement what we're doing inside", referring to the property's revamp. The skull portion was donated to the city's Neon Museum , while much of the remaining sign was scrapped. The sign was replaced by an LED neon "TI" sign with a modern and sophisticated design. The new sign measures 137 feet high and 84 feet wide. Various pirate memorabilia had been removed from
14040-486: Was renamed MGM Mirage . Treasure Island's pirate theme was scaled back during a 2003 project aimed at attracting a more mature audience, in contrast to the family trend of the 1990s. MGM's revamp included new signage abbreviating the resort's name as "TI", while the original pirate show, Battle of Buccaneer Bay , was replaced by Sirens of TI . MGM struggled financially during the Great Recession . In 2009, it sold Treasure Island to Ruffin for $ 755 million. Ruffin targeted
14160-436: Was replaced in 2001 by a tropical-themed restaurant and bar named Kahunaville, part of efforts to appeal to a more-adult demographic. Kahunaville included a dinner show space for live entertainment. A new buffet, Dishes, was added in 2005. An Asian restaurant known as Social House opened a year later, replacing Buccaneer Bay Club. Ruffin made numerous restaurant changes upon taking ownership. In 2009, he replaced Francesco's with
14280-556: Was subject to her father's influence, the Nevada Gaming Commission eventually approved the partnership. Construction of the MGM Grand Macau began in June 2005. The property opened in December 2007, completed at a cost of $ 1.25 billion. In 2004, MGM solidified its plans for the Boardwalk site on the Strip, announcing Project CityCenter , an $ 8-billion high-density project including hotels, condominiums,
14400-488: Was surpassed just two months later when Harrah's Entertainment acquired Caesars Entertainment in a deal that had been spurred on by news of the MGM-Mandalay merger. Despite MGM's initial failure to win a gaming concession in Macau, the company had remained interested in the burgeoning gaming market. Rumors of a possible partnership with Stanley Ho were reported in 2003, but Nevada gaming regulators informally vetoed
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