Discuss about the revenue loss stems from the pandemic

Problem: MGM Resorts International (MGM) is a company with a headquarter in Las Vegas, Nevada. There are three major parts of the organization: Las Vegas locations, various regional operations, and MGM China. The Las Vegas segment of MGM maintains ownership of a majority of the hotels and casinos located on the Las Vegas strip. MGM's assets on the strip include various gambling opportunities to include slot machines, table games, and sports gambling. The organization also offers high roller experiences. Included in these assets are also hotel rooms and rentable venue space. MGM has two major competitors: Caesars Entertainment and the Las Vegas Sands. These major names in gaming all take part in corporate social responsibility (CSR) measures to promote awareness about gambling addiction. To remain competitive, MGM must continue to participate in active CSR measures, as this is the current standard for the industry. Their CSR measures may be working too well, as consumer behavior has moved away from gambling and toward experiences such as entertainment. By 2019, MGM had produced $12 billion in revenue, most of which came from casinos. These earnings marked a continued upward trend in revenue across the previous five years. Unfortunately, there has been a decline in casino revenues recently. This decline exists specifically in the Las Vegas strip sector of the MGM organization, while regional and China operations maintained steady growth during the same time period. Part of this decline has to do with changes in customer behavior as well as smaller customer budgets. Some of the revenue loss stems from the pandemic.

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