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Events are the name of the bold in Las Vegas appropriate now, and gaming companies are attractive for any big-name accident they can get. That's a big acumen why MGM Resorts (NYSE:MGM) is affairs the San Antonio Stars WNBA aggregation and affective it to the Mandalay Bay Contest Center on the south end of the Las Vegas Strip.
["620.8"]In the aftermost few years, Las Vegas has admiring an NFL team, an NHL team, and now a WNBA team. It has additionally congenital a stand-alone amphitheatre -- MGM's T-Mobile Amphitheatre abaft New York-New York -- and amorphous architecture on an NFL arena. Las Vegas is action big on antic events, but it's not yet bright if the Las Vegas Strip is a abundant home for sports long-term.
Image source: T-Mobile Arena.
["768.24"]It wasn't appear how abundant MGM is advantageous for the Stars, but the amount isn't absolutely the point. MGM is aggravating to accompany bodies to its arenas and resorts to absorb money on auberge rooms, gambling, and drinks. Notice that the aggregation will comedy in Mandalay Bay, the far end of the Strip breadth best of the adjoining resorts are endemic by MGM, giving it upside in any spillover spending.
What makes the move arresting from the WNBA's angle is that sports leagues accept been affective abroad from accumulated ownership. Companies like Disney, The Tribune Co., and News Corp accept all endemic sports teams in the past, but above leagues accept confused abroad from the model, in allotment to accumulate buying with free-spending alone owners. The WNBA charge see some amount in the Stars actuality endemic by a big association in Las Vegas.
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What's odd about the WNBA and NHL accepting a home on the Las Vegas Strip is that the absolute breadth is congenital for visitors. Bodies appear to Las Vegas for ball they can't get at home and MGM, in particular, is now alms article I can get aural walking ambit of breadth I alive in Minneapolis. Why would I go to Las Vegas and absorb my time at a Wild or Lynx bold back I can see both teams at home? Some diehard admirers ability like the adventitious to see a aggregation from home comedy back traveling to the bank and ball mecca, but otherwise, I don't see it accepting a huge appulse on the leagues as a whole.
This is adverse to the contest Las Vegas is accepted for. The aftermost two Floyd Mayweather fights beatific allowance ante aerial about the burghal and brought millions in from high-end gamblers. MMA fights, Cirque du Soleil shows, and big-name concerts are accepted for affairs bodies to the burghal from bags of afar abroad because they're different events.
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The WNBA, on the added hand, has teams all over the country and appear boilerplate appearance of aloof 7,716 per bold during the 2017 season, acceptation a 34-game division will allure beneath bodies than your boilerplate Cirque du Soleil appearance on the Strip. I'm not abiding it'll move the aggravate for MGM or Las Vegas in general.
MGM is aggravating to accompany added ball to the Las Vegas Strip -- that's what's abaft the accretion of the San Antonio Stars. But I catechism whether it's the affectionate of ball that will drive advance on the Las Vegas Strip. Visitors to the arena are attractive for different adventures they can't get at home, and that draws in bodies accommodating to absorb at resorts. That's apparently now what MGM will get with the WNBA, abnormally with added able sports acceptable commonplace in Las Vegas.
["1105.8"]Travis Hoium has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has a acknowledgment policy.
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