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MGM Resorts International, one of the biggest and most profitable casino companies in the world, is considering making some major changes.
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most profitable casino in las vegas 2020 The program, known as 'MGM 2020', will be a company-wide, business-optimization initiative aimed to leverage a more centralized organization to maximize profitability and, through key investments in technology, lay the groundwork for the Company's digital transformation to drive revenue growth.
The plan expands upon themes that were outlined at the Company's 2018 Investor Day and also builds on MGM's highly successful Profit Growth Plan that was implemented in 2015.
We are building on the strong foundation that we have solidified over the past few years, to deepen our efficiencies and achieve sustained growth and margin enhancement," said Jim Murren, Chairman and CEO of MGM Resorts International.
Murren continued, "When we launched our Profit Growth Plan a few years ago, we transformed our culture to embrace a 'One Company' approach to operations, most profitable casino in las vegas 2020 best practices and efficiencies, and drive significant Adjusted EBITDA growth and margin expansion.
Importantly, during this time, we established key centralized strategic functions and developed crucial operational expertise to enable best practices and efficiencies.
These cornerstone strengths allowed us to exceed our initial expectations on our Profit Growth Plan, as we currently operate many of the most profitable destinations in Las Vegas and across our regional markets.
Over the next few years, the Company expects to reallocate a portion of its annual capital expenditure budget to specific technology advancements that will increase revenues and grow market share by innovating and elevating the guest experience through data, pricing, digital and loyalty capabilities and optimizing business mix.
Murren concluded, "We had a solid sloth running a to the year in 2018, and as we look to 2019 and most profitable casino in las vegas 2020, we remain confident in the ramp of our newly opened properties MGM COTAI, MGM Springfield, Park Go here and NoMad Las Vegas.
We will enter two attractive markets in New York and Ohio.
We will continue to work toward cementing MGM Resorts as the leader in sports, following the milestones achieved in 2018 with GVC and the professional sports leagues.
We remain focused on pursuing an integrated resort opportunity in Japan.
MGM 2020 reinforces our commitment to increasing margins and maximizing profitability.
MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands.
The MGM Resorts portfolio encompasses 28 unique hotel offerings including some of the most recognizable resort brands in the industry.
Expanding throughout the U.
The 81,000 global employees of MGM Resorts most profitable casino in las vegas 2020 proud of their company for being recognized as see more of FORTUNE´┐Ż Magazine's World's Most Admired Companies´┐Ż.
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The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts.
Examples of these statements include, but are not limited to, the Company's expectations regarding future results and the Company's financial outlook, the Company's ability to generate future cash flow growth, the Company's ability to execute its strategic plan and capital allocation strategy, and deliver on its 2020 goals.
These forward-looking statements involve a number of risks and uncertainties.
Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports including all amendments to those reports.
In providing forward-looking statements, the Company is not undertaking any duty most profitable casino in las vegas 2020 obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law.
If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
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