During Bernstein’s 37th Annual Strategic Decisions Conference, MGM Resorts president and CEO Bill Hornbuckle spoke about the legalization of sports wagering and the recovery of the company from the COVID-19 pandemic.
Online Gaming Is Unlikely to Impact Land-Based Venues
Bill Hornbuckle, MGM Resorts president, and CEO recently spoke at Bernstein’s 37th Annual Strategic Decisions Conference. While speaking at the conference on Thursday, Hornbuckle answered multiple questions regarding the future of online gaming, MGM’s recovery from the pandemic, and more.
When asked whether online gaming may impact land-based venues, Hornbuckle, who was quoted by CDC Gaming Reports, revealed that he has no concerns. Furthermore, he stressed that similarly to riverboats, this topic has been around for quite some time. According to him, as a large-scale Las Vegas operator with luxury resorts, MGM continues to grow every year.
When asked whether sports betting investors “should be worried about the pace for legalization“, Hornbuckle acknowledged that this process, similarly to other legal processes, will take time. According to him, the legalization of sports wagering requires understanding and education particularly when it comes to responsible gambling.
MGM Is Already on Its Way to Full Recovery
Another important topic that Hornbuckle commented on was the impact of the pandemic. Despite the economically difficult 2020, according to him, now business is quickly picking up and MGM’s properties in Las Vegas are “on fire”. Besides occupancy of more than 90%, Hornbuckle stressed that slot games have hit records in 17 out of 18 properties.
Additionally, Hornbuckle acknowledged that MGM can balance its revenue flow from Asia, as well as its digital assets. He stressed that there is potentially “more reliance on digital opportunities domestically and internationally through BetMGM“. Last but not least, Hornbuckle revealed that MGM remains focused on full recovery.
Earlier this week, BetMGM secured a multi-year agreement with the iconic hockey player Wayne Gretzky. Under the collaboration, he became an official brand ambassador for BetMGM.