The center of our industry and competitor analysis research is MGM Mirage, the second largest casino hotel operator in the world with $7.2 billion in revenues in 2008. The only company that surpasses MGM Mirage by revenue and scale is Harrah’s Entertainment Inc. with $10.8 billion in revenues in 2008. Other competitors that should be considered are Las Vegas Sands Corp. and Wynn Resorts Ltd with respectively $1.7 and almost $1 billion in revenues in 2008.
Our group focused on researching the degree of threat and the likely future competitive moves that Harrah’s Entertainment, Las Vegas Sands Corp. and Wynn Resorts Ltd will undertake in short (next 3-6 months) and long term (next 1-3 years). In order…show more content… In 2008, two private firms - Apollo Advisors and TPG Capital, acquired Harrah’s. Since the beginning of 2009, the company has had some major difficulties with revenue generation. The firm’s facilities boast more than 3 million sq. ft. of casino space and 39,000 hotel rooms and suites. The company obtains more than 70% of its revenues from gambling. Its US properties are located in Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, and Pennsylvania. Harrah 's also owns and operates the World Series of Poker tournament and brand, and manages casinos on Indian reservations. Globally, the firm owns or manages casinos in UK, Egypt, South Africa, and Macau, China. The company’s revenue for 2007 was $10.8 billion.
Las Vegas Sands Corp. founded in 1988 is another well known company that operates in casino hotels and development niche. It is headquartered in Las Vegas, Nevada. Some of its well known brands are The Venetian Resort Hotel Casino, The Palazzo Resort–Hotel–Casinos, the Sands Expo and Convention Center, and Venetian Macao Limited, a developer of multiple casino hotel resort properties in Macao, China. The company is expanding further with the opening of Sands Casino Resort in Bethlehem, Pennsylvania in 2009. The firm’s revenue for 2008 was $1.7billion.
Wynn Resorts Ltd was formed in