A $1.5B Gamble Backfired on Vegas: MGM Layoffs Signal the End of an Era

A $1.5B Gamble Backfired on Vegas: MGM Layoffs Signal the End of an Era

MGM’s $1.5 billion shift from a high-volume to a high-revenue model backfired, as steep price hikes alienated its core middle-class market and eroded visitor loyalty. The resulting revenue shortfall led to mass layoffs and declining service quality, creating a damaging feedback loop. This crisis now forces both MGM and Las Vegas to rethink their value proposition and restore the balance between profitability and accessibility.

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