One might ask why a venue appealing instead to older, wealthier fans of Frank Sinatra or Elvis was not opened, instead.
And MGM executives cannot give you the honest answer: that without big-spenders connected to the drug and other criminal trades the Strip's revenues would be considerably smaller, so they must extract as much cash as possible from this demographic to survive. The drug economy is a major plank propping up the overall US economy.
Many a US Senator might give the same answer about his campaign funding sources, if put under interrogation.
Ask any of the old-timers who have been there for years and they'll tell you straight; Vegas was safer when the mob ran it.