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Hi, need to submit a 2250 words paper on the topic Strategic Profile, Purpose of MGM Resorts International.
Hi, need to submit a 2250 words paper on the topic Strategic Profile, Purpose of MGM Resorts International. This paper presents a case analysis and strategy formulation work for MGM Resorts International. The purpose the case analysis is precise to determine the best strategic alternative for MGM Resorts International, given the business and general environment in which it operates, and given an analysis of its strengths and weaknesses, the threats to its business, and the opportunities that are present in the market.
As a holding firm in the hospitality industry, the key business for MGM Resorts International is in the business of owning and operating resorts that are casinos. As such, it is in the business of offering within those casino resorts such services as retail, dining, entertainment, gaming, convention, hotel, and a number of corollary services and activities. Its presence is confined to two markets, the US domestic market, where it owns and operates 15 casino resorts throughout the United States, and the China Market, where MGM Macau has ownership of the casino resort known as MGM Macau resort and casino. The company has sole ownership and total control of operations for its US casino resorts, whose casino operations, in particular, are open the whole year round without pause and for 24 hours every day, except for its operations at the Grand Victoria, which pause for work two hours out of 24 hours on a daily basis (Google Finance, 2013). Apart from the wholly-owned resorts, MGM Resorts International also has 50 percent stakes in three other facilities, chief of them being CityCenter, where the company has half of the total ownership stakes in the ARIA Resort and Casino, among other assets. It's MGM China Holdings control 51 percent of the MGM Macau Resort and Casino, apart from new planned developments for a Cotai resort and casino. Its expertise in the hospitality segment has allowed the holding firm, moreover, to get involved in a vast array of management agreements as well as development agreements for various projects worldwide, involving all kinds of projects outside of casino development as well as projects in casino and resorts development (MGM Resorts International, 2013).