Tougher fire safety codes enacted in Las Vegas after the MGM Grand and Hilton fires led to a vastly different outcome during a blaze at the Monte Carlo casino resort in 2008.

It can be hard to prove the value of fire prevention to business executives focused on bottom lines. After all, it's difficult to assign hard numbers to fires that don't occur. But, the lesson learned from the MGM Grand tragedy is ultimately this: while the chances of a raging fire may be small, the consequences of failing to take proper steps to prevent one can be catastrophic.