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Here’s the latest from MGM Mirage on the repairs at the fire-damaged Strip hotel. Still no word on when it will reopen.
This is the company’s afternoon statement:
Repair of the Monte Carlo façade continued today. Workers are installing 4’x8’ sheets of glass rock near the top of the building. Approximately 60% of the more than 400 sheets of glass rock have been put in place. The glass rock will serve as the base upon which the new façade will be built.
Work inside the hotel continues as well. Both hotel and contract employees continue around-the-clock efforts to prepare the hotel for reopening. Guests and events are being relocated through next week. A reopening date has not been announced.
Las Vegas Strip performers Carrot Top (Luxor) and Louie Anderson (Excalibur), along with Monte Carlo headliner Lance Burton, visited with employees in the employee dining room today. The trio spent time with the employees, thanking them for working so hard to prepare the Monte Carlo for reopening.
Construction efforts will continue through the weekend. The next construction update is not expected until Monday.
Guest Hotline at (888) 395-0776 Employee Hotline (702) 693-7005
Best of luck to MGM Mirage on its retrofit work.
And to the staff in MGM Mirage's construction and engineering departments, in the future you should be making sure that all of the contractors you hire are very well insured. I am betting that your losses from the fire far exceed the amount of the contractor's insurance. I expect that the contractor will file a Chapter 7 bankruptcy sometime this year.
Also, a note to the risk management, construction and engineering departments: At some point in time your own insurance carriers are going to start writing exclusions in your casualty policies to limit or eliminate casualty coverage when underinsured contractors are hired for risky work.
They also might write exclusions from insurance coverage when the property owner (i.e. MGM Mirage) does not have one of its own employees on the job site (e.g. on the roof) supervising the contractors' risky work. That is especially true when risky construction work is being done while employees,guests and casino customers are in the building at the same time.
An uninsured casualty is sure to put any publicly traded casino's stock in the toilet price wise.