Citing design delays, the Hotel at Mandalay Bay renovation won't be starting on time. "A potential delay in taking rooms out of service at the end of this year demonstrates MGM’s high-visibility and confidence in calendar year 2014 group booking trends, in our view," said David Bain, a gaming analyst. The construction to transform the hotel into the Delano Las Vegas was expected to start in March with an opening after September 2014.

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