MGM Resorts CEO Hornbuckle Met with President Xi Jinping

MGM Resorts chief executive officer and president Bill Hornbuckle was one of the US business leaders who met with China’s President Xi Jinping at Wednesday’s official meeting in Beijing.

The meeting, which took place in the East Hall of the Great Hall of the People, was meant to sweeten the relations between the two global superpowers, with special emphasis on China’s plans to bring back foreign investors and stop its economic slowdown. 

Official data speak about foreign direct investment into the country going down by 8% in 2023.

The US delegation also featured Blackstone Group chief executive officer Stephen Schwarzman, Qualcomm chief executive officer Cristiano Amon, FedEx chief executive officer and chairman Raj Subramaniam, Chubb chief executive officer Evan Greenberg, and Bloomberg chairman Mark Carney. 

They were joined by the president of the National Committee on US-China Relations Stephen Orlins, along with president of the US-China Business Council Craig Allen.

“It’s All About Exchange”

During the meeting, President Xi explained that “It’s all about exchange,” when asked how the two countries share elements of each other within themselves. 

Xi further explained that “exchange and cooperation” eventually lead to integration and “the mutual inclusion of elements from each side.”

He also applied the same theory to cultural differences, explaining that the goal was “to seek common ground while preserving minor differences, establishing more consensus among nations, within families and among relatives.”

The meeting, which lasted for an hour and a half according to Reuters reports, also saw the Chinese President speak about the history of China-US relations, which he called “a chronicle of friendly interactions between the peoples of the two countries” that should continue to be shaped by the same people in the future. 

He also emphasized the need for individuals representing all sectors to engage, communicate, and cooperate more.

Hornbuckle’s Presence Sent a Message 

Hornbuckle’s presence at the meeting can be interpreted as a good omen regarding Beijing’s view of Asia’s gaming hub, Macau, where MGM currently operates two integrated resorts.

The operator also tackles several hotels spread throughout mainland China via its Diaoyutai MGM Hospitality joint venture, in Sanya, Shanghai, Qingdao, Chengdu, and Nanjing. 

MGM also wishes to open additional hotels in the future, with possible locations in Shenzhen,  Guangzhou, and Zhuhai.

Hornbuckle expressed pride in MGM’s position of support for “US-China relations through increased bilateral travel and tourism” and his honor for being able to participate in the meeting.

Earlier in the month, it was announced that MGM Resorts was contemplating the idea of selling its casino ventures in Ohio and Massachusetts.