Optimistic Outlook for Las Vegas Tourism by MGM Resorts CEO
Confidence in Las Vegas Tourism Recovery
During a recent quarterly investor call, Bill Hornbuckle, President and CEO of MGM Resorts International, expressed optimism about the future of Las Vegas tourism. Despite a notable 11.3% drop in visitation for the month of June, Hornbuckle remains confident that the city’s visitor numbers and conference bookings will rebound, supported by historical trends.
Signs of Increasing Bookings at MGM Resorts
Hornbuckle shared that after nearly two months of declining bookings starting in May, MGM Resorts has seen a positive shift over the past four weeks with a steady increase in reservations. This upward trend is encouraging as the company looks forward to the key months of August through October, especially given the short booking windows typical for Las Vegas.
Focus on Attracting Premium Guests
The CEO highlighted the company’s strategic focus on attracting high-end clientele, particularly within the luxury segment. Properties such as The Cosmopolitan, Aria, and Bellagio have demonstrated strong performance through improved occupancy and increased high-value guest activity. Hornbuckle acknowledged the importance of consistently delivering value to maintain this momentum.
Addressing Perceptions of Las Vegas’s Value
In light of recent critiques concerning the city’s appeal, Hornbuckle emphasized that Las Vegas continues to offer significant value, noting that some midweek hotel rates remain comparable to those from two decades ago. He urged for a positive shift in the public narrative to better reflect the true offerings and strengths of the destination.
Impact of Declining Canadian Tourism
Despite positive signs, Las Vegas has experienced a drop in tourism, notably from Canadian travelers who traditionally contributed a steady stream of visitors, especially during the summer. This decline has been linked to political factors and changing attitudes in Canada towards travel to the U.S., which could temporarily affect the city’s tourism economy.
Financial Performance and Strategic Initiatives
MGM Resorts, the largest casino operator on the Las Vegas Strip, reported net revenue of $2.1 billion from its Las Vegas properties in the second quarter of 2025. This represents a nearly 4% decrease compared to the $2.2 billion recorded in the same quarter the previous year. Adjusted EBITDAR also declined by 9.1%, falling to $710 million from $782 million.
To stimulate demand, MGM launched a partnership with Marriott Bonvoy, providing guests with hotel discounts and exclusive perks. Hornbuckle shared that this program is projected to generate around 900,000 hotel stays this year. The initiative recently hit a record with 25,000 bookings in a single week, and these guests tend to spend an average of $150 more per day than others, contributing positively to the overall revenue.