If Wall Street is judging the Strip’s winners and losers in the A’s proposed $1.5 billion stadium deal to bring the franchise to Las Vegas, MGM Resorts International clearly hit a royal flush.
Unlike the 2016 agreement that hiked hotel room taxes to help fund a substantial portion of construction costs for the $1.9 billion Allegiant Stadium, MGM Resorts isn’t responsible for any of the proposed stadium’s public financing.
Instead, the company stands to benefit primarily because of proximity to the planned 30,000-seat retractable roof ballpark.
Five of the company’s Strip megaresorts totaling more than 13,000 rooms — MGM Grand Las Vegas, New York-New York, Excalibur, Luxor and Mandalay Bay — are directly across from the Tropicana site along the Strip and Tropicana Boulevard.
