Las Vegas Giant, MGM, Betting on Asia

Las Vegas is back in business, or at least will be by 2022 — but the CEO and president of one of the largest resort operators has other concerns, namely expansion in Asia.

William Hornbuckle has said MGM Resorts’ pending licence renewal in Macau is “critical” to the business, while it waits for news from Japan concerning its bid to open a resort in Osaka.

Hornbuckle told Skift that the past year was not one he’d want to live through again, as Las Vegas didn’t just slow down, it stopped.

MGM’s Mandalay Bay hosts the International Surface Event from June 16-18, which is at 50 percent of usual numbers, but that too returns in January 2022. Overall, Hornbuckle said MGM currently has more room nights booked for 2022 than it did in 2019.

To start with, a lot rests on some pivotal decisions coming June next year. This is the month when Macau makes a decision over the renewal of MGM’s licence there, while MGM also hopes to hear back from Osaka around the same time.

MGM has partnered with Orix there and is the “lone standing” candidate in a request for proposal process. “We’ve spent the better part of seven years pursuing an integrated resort at scale in Japan. We love the marketplace,” he said.

Expanding the footprint geographically is only part of the plan, as MGM ploughs ahead with online gaming and sports betting.

To know more about this news, check out: https://skift.com/2021/06/16/why-mgm-resorts-is-placing-a-huge-bet-on-asia/