Why MGM Resorts Is Upgrading Monte Carlo

The Las Vegas Strip is getting another face-lift now that MGM Resorts (NYSE: MGM) is spending $450 million to turn the Monte Carlo into Park MGM. It's a needed upgrade for an aging property and one of MGM's weakest performers, and key to attracting more high-end customers to the south side of the Strip.

MGM Resorts should be able to generate millions in additional revenue, as well as more spending at restaurants, bars, and shops around the resort.

Image source: MGM Resorts.

Source: Fool.com