Las Vegas Visitation Stats Will Rise Again, MGM CEO Says

During MGM Resorts International’s quarterly investor call later that day, President and CEO Bill Hornbuckle expressed confidence in a recovery, stating that “history gives us confidence” in the rebound of visitation and conference bookings, despite visitation to Las Vegas being down 11.3% in June.

MGM Resorts CEO Says Company Will Rebound

Hornbuckle noted that starting in May, MGM Resorts experienced a nine-week decline in bookings. However, he said that over the past month, bookings have been on the rise, with increases seen for four consecutive weeks. This recent trend, he explained, provides confidence when looking ahead to August, September, and October, particularly given the typically short booking cycle in Las Vegas.

Hornbuckle further emphasized the importance of considering how to evaluate and attract customers moving forward. The CEO expressed confidence in the company’s ability to draw premium customers, especially in the luxury segment, citing strong performance from properties like The Cosmopolitan, Aria, and Bellagio. He noted continued improvements in occupancy and deal flow from high-end guests, while also acknowledging the need to stay focused on providing value.

Addressing broader perceptions of Las Vegas, Hornbuckle pointed to recent discussions around the city’s value proposition. He argued that despite the headlines, Las Vegas remains strong, highlighting that some midweek rates are comparable to those from two decades ago. He stressed the importance of shifting the narrative to reflect the true value the city offers and maintaining a positive outlook. 

Despite Hornbuckle’s confidence, it should be noted that during the past few months, Las Vegas has seen a significant decline in tourism, particularly from Canada.  The city has often been a popular summer retreat with Canadian visitors, who have always brought a stable income for properties in the city. However, this month saw another slump in Canadian travelers to the US, largely attributed to the decisions of the Trump administration and the subsequent rise in anti-American sentiments among the US’s northern neighbors.

Here Are Some Numbers

MGM, which is the largest casino operator on the Las Vegas Strip, reported $2.1 billion in net revenue from its Las Vegas resorts in the second quarter of 2025. This marks a decline of nearly 4% compared to the $2.2 billion generated during the same period last year. According to public financial filings, the company also reported adjusted EBITDAR of $710 million for the quarter, down 9.1% from $782 million in the previous year.

One way MGM decided to combat this is to launch a program with Marriott Bonvoy, which offers its guests access to hotel discounts and additional benefits. According to Hornbuckle, the initiative is expected to generate approximately 900,000 hotel stays this year. He also highlighted a recent milestone, with a record 25,000 bookings made in a single week. Hornbuckle also stated that these customers continue to spend more than average, outspending others by as much as $150 per day.