MGM's Lanni Says NBA All-Star Game Was Bad for Vegas
04/05/2007 |
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MGM Mirage Chief Executive Officer Terry Lanni said he doesn't want the National Basketball Association's All-Star game to return to Las Vegas after an arrest-filled weekend scared gamblers away from his casinos.
Lanni, whose MGM is the city's largest casino owner, said tourists stayed in their hotel rooms instead of playing slots and blackjack during the Feb. 17 and 18 weekend, when two separate shootings left three people in critical condition.
``David Stern, he can keep the All-Star Game and not bring it back here, as far as we're concerned,'' Lanni said on a conference call, referring to the NBA's commissioner. He didn't say how much revenue the company lost due to the game.
Las Vegas was the first city without an NBA franchise to host the All-Star Game, which coincided with celebrations of the Chinese New Year, Valentine's Day and Presidents Weekend.
Las Vegas police said 362 people were arrested and booked into Clark County Detention Center from Feb. 15 to 19. Charges included trespass, battery, outstanding warrants, loitering, burglary and disorderly conduct, as fights broke out along the Strip, the city's main gambling area. That's ``significantly more'' than usual, said police spokesman Martin Wright.
One person was shot in the MGM Grand parking garage, police said.
Lanni said an influx of people from Los Angeles and other areas who participated in the illegal activities left many tourists afraid to visit the casinos.
``We know a number of our Asian customers who were here for the Chinese New Year didn't come out,'' he said in a telephone interview. ``They stayed in their villas, and the people we did have play didn't play as much as they would have.''
Pacman
NBA spokesman Tim Frank declined to respond to Lanni's comments.
Three people were shot outside the Minxx strip club that weekend, leaving one paralyzed. Police allege that Adam ``Pacman'' Jones, a cornerback for the National Football League's Tennessee Titans, instigated the fight that led to the Feb. 19 triple shooting. Police have recommended that the district attorney charge Jones with felony coercion, misdemeanor battery and misdemeanor threat to life. He hasn't been charged.
MGM said today that first-quarter profit rose less than analysts estimated as vacationers gambled less at resorts such as Circus Circus and Excalibur along on the Strip.
According to the Las Vegas Convention and Visitors Authority, the NBA All-Star Weekend drew about 85,000 people to the city, generating about $90.6 million in non-gaming economic impact.
While Las Vegas is trying to lure a professional sports team, Stern said during All-Star Weekend that the league probably won't return to the city unless it builds a new state- of-the-art arena.
Shares of MGM fell $2.94, or 4.3 percent, to $65.38 at 4:01 p.m. in New York Stock Exchange composite trading. They have gained 14 percent this year.
(Source: Bloomberg.com)
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