MGM Resorts Expresses Interest in Thailand Casino, Steady on Macau

August 5, 2022 Thailand Emerging Markets

MGM Resorts International released its latest financial health report this week, reporting over $2.1 billion in revenue for its Las Vegas operations. In an earnings call on Wednesday, the gaming operator offered insight into its Asia Pacific future, which could hold several changes.

MGM is currently considering become the second US-based operator in Thailand. The country itself is in the process of considering whether or not opening a land-based casino market is viable.

MGM CEO and President Bill Hornbuckle highlighted the company’s interest in Thailand during the earnings call, according to Inside Asian Gaming. He also provided a hint about the company’s continued interest in maintaining casino operations in Macau.

MGM currently has a lot going on in the Asia Pacific theater. It has long been a part of Macau’s gaming market and hopes Japan will approve Osaka’s integrated resort (IR) proposal later this year.

Asia Pacific Gaming Future Bright
MGM knows it will have a huge financial commitment if the Osaka project moves forward. Along with its consortium partners, it will need to spend at least $2.5 billion to fund the IR. In addition, it has other financial obligations for the improvement of infrastructure in the area.

However, the company is optimistic about its financial stability. Its recent quarterly financial announcement supports this, as does the almost $6 billion in cash and cash assets it has on hand.

As a result, MGM knows that Japan can be “another cornerstone” for the company in Asia. The IR would be just one of several possibilities it undertakes in line with continued M&A activity in the global casino ecosystem.

Along with that activity is a consideration to enter Thailand. The country has yet to finalize whether it will develop a casino market. However, Hornbuckle indicated that the company will “watch what happens” in the country.