MGM close to acquiring Mandalay
June 14, 2004As a fan of Las Vegas, I’m not certain that MGM’s bid for Mandalay is a good thing. It means massive consolidation of power on the Vegas Strip–the majority of the big mega-resorts under one corporate parent.
That kind of near monopoly almost always hurts consumers in the long run. They’d have almost half of all hotel rooms in Vegas. That seems like too much concentration of power under one roof. But I bet the lap-dog gambling regulators in Nevada will go ahead and approve the deal.
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