{"id":5151,"date":"2012-02-23T09:50:26","date_gmt":"2012-02-23T09:50:26","guid":{"rendered":"http:\/\/www.igamingpost.com\/News\/?p=5151"},"modified":"2012-02-23T09:50:26","modified_gmt":"2012-02-23T09:50:26","slug":"mgm-ceo-jim-murren-bullish","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/mgm-ceo-jim-murren-bullish\/","title":{"rendered":"MGM CEO Jim Murren Bullish"},"content":{"rendered":"<p><a href=\"http:\/\/www.igamingpost.com\/News\/archives\/5151\/jim-murren\" rel=\"attachment wp-att-5152\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-5152\" title=\"Jim Murren\" src=\"http:\/\/www.igamingpost.com\/News\/wp-content\/uploads\/2012\/02\/Jim-Murren-202x300.jpg\" alt=\"\" width=\"202\" height=\"300\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;The casino and gaming industry is booming, especially in Macau and 2012 looks to be a record year,&#8221; MGM, Resorts, CEO Jim Murren said Wednesday.<\/p>\n<p>&#8220;Macau represents a $35 billion casino gambling market, which would grow to $50 billion five years from now,: Murren said.<\/p>\n<p>\u201cWe want to build another property there and we do expect to spend $2\u00bd billion because we think the markets are going to be there for us, and our brands work in China,\u201d Murren continued.<\/p>\n<p>\u201cBelieve it or not, after what the market\u2019s been through, we\u2019re going to have all-time record visitation in Las Vegas in 2012,\u201d he said.<\/p>\n<p>Murren said he was \u201cvery confident\u201d online gambling laws would pass on the federal level and urged the government to react to the multibillion-dollar industry. If it doesn\u2019t pass, Murren said it was likely legislation would occur on a state-by-state basis.<\/p>\n<p>\u201cIt is a multibillion-dollar opportunity,\u201d he said. \u201cWe\u2019ll be one of the first companies out of the gate because we\u2019re prepared.\u201d<\/p>\n<p>Besides online gambling, MGM would benefit from a venture into the social media sphere, Murren said. Although the company has not publicized details about the initiative, Murren said it would launch in May.<\/p>\n<p>\u201cThink of Farmville meets Las Vegas,\u201d he said, referring to the popular Facebook-based game by Zynga. \u201cI think this is the year where the gamers are going to start merging with the gaming industry, and you\u2019re going to see \u2018Farmville on the Strip.\u2019\u201d<\/p>\n<p>In Las Vegas, MGM\u2019s City Center project faced uncertainty after the financial crisis yet managed to avert catastrophe, he said.<\/p>\n<p>\u201cInstead, we finished it in 2009. We\u2019re employing 10,000 men and women today, and we\u2019re making more money every quarter,\u201d Murren said. \u201cIt\u2019s a pretty remarkable story of resiliency and recovery.\u201d<\/p>\n<p>The facility\u2019s convention spaces are booked for the year, and City Center now represents the third-most profitable property in the MGM portfolio, he said; \u201cAnd I bet it\u2019ll become the most profitable one within the next two to three years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The casino and gaming industry is booming, especially in Macau and 2012 looks to be a record year,&#8221; <\/p>\n","protected":false},"author":3,"featured_media":5152,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[9,75],"class_list":["post-5151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","tag-featured","tag-mgm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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