MGM CEO Bill Hornbuckle Affirms Las Vegas’ Vibrancy Despite Tourist Fluctuations
Strong Weekend Performance Defies Negative Narratives
Bill Hornbuckle, CEO of MGM Resorts International, recently dispelled rumors circulating on social media that Las Vegas is losing its appeal due to overpriced experiences. Speaking at the Bank of America Securities 2025 Gaming and Lodging Conference in New York City, he affirmed that, despite an 8% decline in tourists this year, Las Vegas continues to thrive.
Hornbuckle humorously responded to headlines declaring Las Vegas “dead,” stating, “We ran 98% occupancy this past weekend. That’s a clear sign we’re far from being done.” He pointed out that the drop primarily affects value-oriented visitors who typically stay at more affordable properties like Excalibur and Luxor, while higher-end resorts such as Bellagio, Aria, and Cosmopolitan are still performing well, although with some softness compared to the vibrant 2023 and 2024 seasons.
Efforts to Enhance Visitor Experience and Affordability
The MGM CEO highlighted ongoing initiatives in collaboration with the Las Vegas Convention and Visitors Authority to promote the city internationally, particularly in Canada. He emphasized efforts to adjust pricing on everyday essentials for travelers. For example, guests can now check into New York-New York or Excalibur hotels for $85, including resort fees, enjoy $5 beers, and gamble at $5 minimum tables. These changes aim to make the city more accessible and appealing to a broader range of visitors.
Upcoming Attractions and Seasonal Optimism
Looking forward to the fall, Hornbuckle expressed enthusiasm for the major events lined up, including the highly anticipated Crawford-Canelo boxing match, Las Vegas Raiders NFL games, and a Paul McCartney concert in October. He believes that the return of convention activities and new Marriott partnerships accepting Bonvoy points will further stimulate group bookings and overall visitation.
Challenges and Growth Across MGM’s Portfolio
Despite facing challenges over the summer, such as the temporary closure of 800 rooms at MGM Grand for renovations and the impact of Spirit Airlines’ bankruptcy which reduced air travel capacity by nearly 400,000 seats, Hornbuckle remains upbeat. He cited MGM’s diverse portfolio and expansion plans, including growth in regional resorts and ventures in Japan and the digital gaming sector, as reasons for confidence.
International Recovery and Casino Innovations
MGM’s operations in Macau are showing signs of recovery, welcoming 25 million visitors annually. Hornbuckle shared that the company engaged closely with customers to redesign the casino floor, tailoring it to visitor preferences, which has yielded positive results.
BetMGM’s Performance and Future Outlook
On the digital front, BetMGM has achieved a remarkable turnaround, generating $400 million in improved results within a year. This progress stems from enhanced marketing efforts and product development, enabling the company to regain market share and anticipate continued growth.
Concerns Regarding Prediction Markets Regulation
Lastly, Hornbuckle commented on prediction markets under the Commodity Futures Trading Commission’s jurisdiction, expressing caution. He noted that these markets could invite federal government involvement in realms previously untouched, a prospect MGM does not officially endorse.
