Mandalay Bay Convention Center's Renovation Completed after $100M Makeover
MGM Resorts International has finished a $100 million revamp of the Mandalay Bay Resort and Casino Convention Center located in the southern part of the Las Vegas Strip.
In October 2022, MGM dedicated $100 million towards improving the 2.1 million square feet of convention areas within their integrated hotel-casino complex. This project consisted of a thorough refurbishment, incorporating cutting-edge technology, modern digital signage, and an interior redesign in line with the resort's tropical theme.
Mandalay Bay initially opened in March 1999 at a price tag of $950 million. Circus Circus Enterprises, which later became Mandalay Resort Group and was acquired by MGM in April 2005, developed and launched the high-end resort as a 43-story establishment. The $100 million investment in the convention facility represents the most significant renovation of the meeting space since the property's launch over 25 years ago.
Conventions Essential for the Las Vegas Strip
The Las Vegas economy heavily depends on conventions, large-scale gatherings, and events.
In pre-pandemic 2019, Las Vegas conferences attracted a record 6.6 million visitors to Southern Nevada. Conventions are experiencing a rebound, with 6 million tourists attending meetings in 2022.
Convention attendees typically spend more money than leisure travelers as their airfare and accommodation expenses are often covered by their employers, and many receive a per diem that they utilize for gambling, food and beverages, entertainment, and shopping.
A recent economic survey completed by Applied Analysis for the Las Vegas Convention and Visitors Authority reported that convention participants spent $9.1 billion in 2023 and supported nearly 44,000 jobs, earning $2.4 billion in wages. These meetings sustain casino hotel rooms and resort amenities busy during the week when leisure visitors are scarce.
"Conventions are instrumental to the success of Las Vegas, and the revamp of the Mandalay Bay Convention Center showcases our devotion to this vital component of our city's structure," said Ernest Stovall, Mandalay Bay's vice president of hotel sales.
"Our objective is to align with meeting industry advancements and provide a space that surpasses the expectations of contemporary clients. Thanks to feedback from our customer advisory board, we formulated a Mandalay Bay conference facility that establishes a new benchmark for excellence and mirrors the future of modern conferences, events, and trade exhibitions," Stovall reiterated.
Mandalay Bay's convention facility ranks third in size among Las Vegas venues, following the Las Vegas Convention Center at roughly 4.6 million square feet and The Venetian Convention & Expo Center at The Venetian and Palazzo encompassing approximately 2.25 million square feet.
Updates to Other Major Convention Centers
Mandalay Bay isn't the sole major convention center undergoing upgrades.
The Las Vegas Convention Center is receiving a $600 million overhaul of its North, Central, and South halls to modernize these facilities to match the $1 billion West Hall, which debuted in late 2021. The $600 million investment covers similar enhancements as Mandalay Bay, including digital signage, fresh interiors, advance technology, and a new parking lot.
The Venetian, operated by Vici Properties - Caesars Entertainment's real estate investment trust - and managed by private equity firm Apollo Global Management, announced an $188 million overhaul of its Expo Center last fall.
Mandalay Bay's convention center is not the only one receiving updates: the Las Vegas Convention Center is receiving a $600 million overhaul of its North, Central, and South halls to match the recently-opened $1 billion West Hall. Essentially, all these spaces will boast similar improvements like digital signage, new interiors, updated technology, and new parking lots.
The Venetian, owned by Vici Properties, the real estate investment trust of Caesars Entertainment, and managed by private equity firm Apollo Global Management, announced last fall an $188 million update for its Expo Center.
