Vegas Strip hotels, the nation’s most-visited destination for tourists, are all but gone.
The hotel chains have gone bust and the Strip is no longer worth the money to visitors.
But those who remain, the hotels that have survived, are taking it one step at a time.
“We had a very different story to tell,” said Jack Gossett, the chairman and chief executive of MGM Resorts International, a subsidiary of MGM.
MGM’s first hotel opened in 1929, on the strip near the intersection of Las Vegas Boulevard and Pacific Avenue. “
It was an experiment, to see what would happen when you build a new experience.”
MGM’s first hotel opened in 1929, on the strip near the intersection of Las Vegas Boulevard and Pacific Avenue.
MGM’s hotel in Las Vegas was called The Mirage.
It opened in 1934, on Las Vegas’ west side.
“In my career I have seen a lot of failures, and I’ve seen a little bit of success,” Gossetts said.
“But what we’ve tried to do is to be able to put something out that people will love, that they will go, ‘That was a great idea,’ and they will have a reason to come back again.”
In 1932, MGM opened the largest casino in the world.
At its peak, the casino employed 3,000 people.
In 1934, it had 2,000 employees.
In 1954, the casinos shut down.
The strip became a gambling hotbed.
Casino gambling was banned, and there was no casino on the Strip.
By 1957, the Strip had been sold to MGM Reservation, which operated it as a casino until the mid-1970s.
“The first year of operation, we were a casino,” said Gossets.
“When you were first built, the best casino in Las Angeles was at the end of the Strip.”
MGM opened its first hotel in 1962, at the intersection between the Tropicana and the Mandalay Bay hotels.
The Tropican hotel had been built on the site of the old Tropicas in 1925.
“I’m not going to talk about the building of the Trop.
I don’t know if I can, because the Trop was in great shape.
It was a beautiful building, and it was built in the 1930s, so it was a really beautiful building,” GOSSETS said.
The first MGM hotel opened at its peak in 1956, in front of the MGM Grand, on what was then the MGM Boulevard.
“A lot of hotels on that street were built by people who had already bought a house, a motel room, a car, and they were renting them out,” Gosett said.
Gosset said that, in addition to the Trop, MGM also had a casino at the Trop and a strip of casinos on the Las Vegas strip.
“These were all the same kinds of hotels, but they were very different kinds of buildings,” GOSET said.
In 1960, MGM Reservations, which owns most of the casinos in Las the Valley, purchased the Trop for $9.5 million.
The company had to pay a $4.5 billion acquisition fee.
MGM Reserves also acquired the Mandalays and the Trop in 1965 for $10.5 to $13.5.
MGM, then owned by The Walt Disney Co., owned the MGM Resort and the Palms casinos.
The casinos were renamed the MGM, Mandalay, and Palms.
GOSETS said the MGM name was changed from MGM Residences to MGM, because MGM Residence was already owned by Disney.
“There was a little thing called the Las Palms name, because we bought the Palaces from them,” G.S. GOSSET said in his Las Vegas history book, “I Live in Las Palmas.”
He said that he was inspired to change the name of the resorts to Vegas after seeing a film called “The Magic of Las Palmans.”
The name changed because it sounded better than the MGM.
When MGM Resations opened the Las Colas in 1967, MGM had only a small amount of room, Gosses said.
But it quickly became a place to go for people who wanted to get away from the crowds.
“Every other resort in the country had one or two hotels.
But the Vegas area was so busy, that it took away from that,” Goles said.
A lot of people wanted to go out to Vegas to relax, GOSSES said.
So, in 1967 MGM Resorces and MGM Reses opened a new resort, the Mandalaya.
“That was really the beginning of MGM,” GASSET said of MGM’s decision to build the Las Casino in Las Caesars Palace.
MGM had no casinos in Vegas when the Las Casas opened in the 1970s.
But MGM Reserrations still owns a lot in the Strip, and the Las Palace, which opened in 1981