MGM Resorts made an announcement that they will be increasing parking fees at 11 of their Las Vegas properties. These changes will take effect Wednesday. The price increase will vary across the Las Vegas properties. Currently, Mandalay Bay, MGM Grand, The Mirage, Monte Carlo and The New York have a $12 daily parking rate; that will increase to $15. The rate for one to two hours will rise from $7 to $9 and the rate for two to four hours will increase from $10 to $12. MGM’s higher end properties, such as the Bellagio, Aria and Vdara will see the daily rate increase to $18. Some of the other properties like the Luxor and Excalibur will also see an increase in price, from $5 to $6 for a one to two-hour period. Circus Circus will hang on to free parking for now. “Parking is free for Mlife Rewards members in the Pearl, Gold, Platinum and NOIR M categories as well as for Mlife Rewards Mastercard holders.”
MGM states that they have invested money back into its parking facilities to make improvements, such as better lighting, availability and directional signs. In 2016, MGM announced a $90M initiative to expand and upgrade parking facilities. They also announced plans for a 3,000-space parking facility near the Excalibur. “Occasional rate adjustments are necessary as we fine-tune staffing, maintenance and equipment to meet guest expectations,” MGM said in a statement. MGM plans to expand convention space at the Aria and MGM Grand this year with a combined 450,000 sq. feet, most likely increasing demand for parking as these properties. In 2016 MGM resorts became the first Strip casino operator to charge for parking. Many competitors followed suit such as, Caesars Entertainment, Wynn Resorts, and The Cosmopolitan of Las Vegas. MGM raised their parking rates last April.