Local News


Reports of MGM looking to buy Wynn Resort could bring big change to Las Vegas jobs

Posted at 6:14 PM, Apr 06, 2018
and last updated 2018-04-06 21:15:51-04

The MGM is showing interest in buying Wynn Resorts, according to reports by The New York Post.

The NY Post claims sources close to the situation say "the interest has come through back-channel approaches."

13 Action News reached out to MGM who said they do not comment on "rumors" while the Wynn sent the following statement:

"Wynn has not had any discussion with MGM or its advisors about a sale of the company."

David Schwartz with UNLV's Center for Gaming Research said if the sale did go through big changes would come to the Las Vegas Strip.

Right now MGM owns the most properties on the strip. If the casino giant acquired the Wynn and Encore, they would own almost half of all properties on the strip.

Schwartz said changes to the name and casino-hotel are always possible. He also said previous casino mergers show a trend of layoffs to cut costs.

"A lot of the customer-facing positions you can't make efficient that way, but a lot of the middleman positions you can," Schwartz said.

Stocks for the Wynn Resort did see a jump Friday because of the talks of a sale. MGM CEO Jim Murren addressed the rumor in an interview with Bloomberg saying he did not have plans to buy Wynn Resorts.