|MGM, one of the world’s largest casino operators, and one of the Las Vegas pioneers in the I-Gaming space has reported a fall in profits due to economic downturn. MGM, owners of casinos such as Bellagio, MGM Grand and the Mirage. Besides a downturn in the economy, analysts also believe that the war in Iraq and the threat of terrorism has put a kink in Las Vegas tourism, another factor in MGM’s sliding profits. |
The launch of MGM’s online casino www.playmgmmirage.com was not enough to make up for the company’s terrestrial losses. The online casino, which is restricted in as where it may accept players from, still represents a minute portion of MGM’s gaming enterprise despite the market being worth a solid $6 billion.