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Jodie Harnish & Ruthie Dumond

Jodie Harnish & Ruthie Dumond. Circus Circus Enterprises, Inc. Purchased in 1974 for $50,000 by William G. Bennett and William N. Pennington In October of 1983 Circus Circus Enterprises becomes a publicly traded company

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Jodie Harnish & Ruthie Dumond

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  1. Jodie Harnish & Ruthie Dumond

  2. Circus Circus Enterprises, Inc. • Purchased in 1974 for $50,000 by William G. Bennett and William N. Pennington • In October of 1983 Circus Circus Enterprises becomes a publicly traded company • Originally marketed products as “right out of the bargain basement” and to “low rollers” • Boasts 3,744 hotel rooms and a five-acre glass enclosed theme park • Additional accommodations are available at Circusland RV Park • Other properties include: • The Luxor, an Egyptian-themed hotel and casino • Excalibur, the eye catching castle is one of the first sights visitors to Las Vegas see • The Monte Carlo • Mandalay Bay

  3. In 1999, Circus Circus Enterprises legally changed their name to Mandalay Resort Group In 2004, Mandalay Resort was bought by MGM Mirage to gain majority control of casinos on the Las Vegas strip

  4. MGM Mirage Hotel Demographics Hotel # Rooms MGM Grand Las Vegas 5,035 The Mirage 3,044 Bellagio 3,005 Treasure Island 2,885 New York-New York 2,023 Boardwalk 654 Mandalay Bay 4,760 Luxor 4,408 Excalibur 4,002 Circus Circus 3,744 Monte Carlo 3,002 TOTAL 36,562 Project CityCenter* 4,000 Signature at MGM Grand* 1,728 (Condo/Hotel) GRAND TOTAL 45,290

  5. Competitors Hotels and Casinos Hotel # Rooms Bally’s 2,814 Ceasar’s 3,348 Tropicana 1,878 Stardust on the Strip 2,340 Las Vegas Hilton 3,174 Wynn Las Vegas 2,700 Venetian Casino 4,049 Imperial Palace 2,700 Alladin Resort & Casino 2,567 Harrah’s Las Vegas 2,500 Flamingo Las Vegas 3,565 Paris Las Vegas 2,916 TOTAL 34,551

  6. Future Plans • The Signature at MGM Grand • Caters to high-end guests • First tower scheduled to open in May 2006 featuring 576 suites • Tower Two is scheduled to open in December 2006 • Third Tower to open in May 2007 • Project CityCenter • 2.3 Million square feet of residential space • 4,000 room luxury hotel and casino • Two 400 room, non-gaming boutique hotels • 470,000 square feet of retail, dining and entertainment space • Set to open end of 2009

  7. Economic Trends

  8. Strengths: • Massive casino presence on Las Vegas Strip • Variety of hotels and casinos to appeal to various demographics of potential clients • Dedication towards employees • Diversity in work force • Strong continuous financial growth • Weaknesses: • Marketing of Circus Circus • Reputation of certain casinos portrays them as cheap, unattractive locations.

  9. Opportunity: • New ventures including the Project CityCenter and The Signature at MGM Grand • Low unemployment rate coupled with a increasing average hourly pay rate in the United States • The possibly to market Circus Circus as a family oriented destination • Threats: • Legal issues such as increasing gaming regulations due to the vast size of MGM Mirage Corporation • Relaxed regulations in other states making it easier for new venues to open allowing consumers to gamble without traveling • Competition • Environment threats such as prostitution and drugs, which could dissuade people from vacationing in Las Vegas

  10. Primary Problem: Inadequate marketing of Circus Circus Solution: More effectively market Circus Circus as a family resort instead of marketing as a “bargain” hotel & casino. Using the location as a positive aspect by allowing families to visit a resort that is a short distance from the heart of the Las Vegas strip. Circus Circus offers a five-acre amusement park that should be more aggressively marketed to consumers looking for a family vacation destination. Also, Circus Circus should increase room rates to transform “bargain image” into a more chic, high-end appealing image.

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