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MGM Grand exec rips NBA All-Star Game

Discussion in 'Sports and News' started by Inky_Wretch, May 3, 2007.

  1. Inky_Wretch

    Inky_Wretch Well-Known Member

    The company said the earnings shortfall was partially due to the rowdy crowd that surrounded the NBA All-Star game in February, which fell on the same weekend as Chinese New Year, a crucial period for bringing in high-rollers from Asia.
    "The gang-bangers and others who came for purposes other than attending the game, they weren't very good for Las Vegas," chief executive Terry Lanni told The Associated Press.
    Instead of gambling, many people stayed in their hotel rooms, Lanni said.
    Lanni said the weekend soured the company's support for bringing an NBA team to Las Vegas, a move under consideration by commissioner David Stern.
    "Mr. Stern can keep his basketball franchises out of Las Vegas as far as I'm concerned," Lanni said.



    http://www.lasvegassun.com/sunbin/stories/nevada/2007/may/03/050310280.html
     
  2. RokSki

    RokSki New Member

    Very interesting. Sounds like something which could be worked into a column
     
  3. ondeadline

    ondeadline Active Member

    And he was holding back these comments for nearly three months why?
     
  4. Inky_Wretch

    Inky_Wretch Well-Known Member

    That's what I can't figure out.

    Perhaps to CYA for a poor earnings report. Or maybe he wasn't asked about any of it in the aftermath of the ASG.
     
  5. slappy4428

    slappy4428 Active Member

    You know, I think Scoop mentioned something about the All-Star game being in Vegas...
     
  6. RokSki

    RokSki New Member

    Scoop writes about the NBA? ;)
     
  7. playthrough

    playthrough Moderator Staff Member

    Ridiculous. A joint like MGM Grand can make sure their Asian high-rollers get their gamble on without being anywhere near the "gang-bangers" or other riffraff.
     
  8. SoSueMe

    SoSueMe Active Member

    Paging Jason Whitlock.
     
  9. slappy4428

    slappy4428 Active Member

    Perhaps. But the perception by the high-rollers was it couldn't. And that makes the difference.
     
  10. JayFarrar

    JayFarrar Well-Known Member

    If you read the article you'll note the story was on 1Q earning report and MGM explained why they thought its profits were down.
    You'll also see that MGM doesn't have gambling operations in Maccau, while others do. Those had excellent 1Qs. MGM's entire loss was based on less than average Vegas turnouts, while its other operations around the country did well.
    So the obvious question would be why did MGM do so poorly and the CEO said what he thought. He also backtracked on not wanting an NBA team in Vegas.
    The mobbed-up mayor there probably put in a call.
     
  11. RokSki

    RokSki New Member

    That's a pretty compelling argument, IMO
     
  12. there were no problems at nba all star weekend. i made it all up.
     
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