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MGM Announces Parking Fee Start Date

Las Vegas Casinos To Charge For Self-Park Beginning June 6

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MGM Resorts International has announced that it will start charging for self-parking at its Las Vegas casinos on June 6. The casino operator, one of the largest in the world, announced the changes in January.

MGM owns the likes of Bellagio, Aria, Mirage, Monte Carlo, Circus Circus, Mandalay Bay, Luxor, Excalibur, New York-New York and, of course, MGM Grand. Fees vary by property, but the casino operator is giving guests the first hour at no cost.

Nevada residents don’t have to pay for self-parking their vehicle until after 24 hours, MGM said. That will remain in effect until the end of the year.

Special events might have higher parking rates, and locals will have to fork over cash during these extremely busy times.

MGM’s decision comes at a time when Nevada gambling revenue compared to the casino industry’s total revenue is at an historic low.

Statewide gaming revenue during FY 2015 was $10.6 billion, or 43.2 percent of total revenue. According to research from the University of Nevada Las Vegas, that’s the lowest percentage ever. In 1984, the farthest back the data goes, gaming win represented nearly 62 percent of total casino revenue in the fiscal year.

Entertainment has become more important to Las Vegas than ever before, and the city is also seeing record tourism. MGM CEO Jim Murren said in January that “the current parking model is decades old.”

MGM has created a website devoted to explaining all the details of the new parking fees. It said it will “create a better parking experience.”

 
 
Tags: MGM,   Las Vegas