MGM CEO anticipates a resurgence in Las Vegas visitor numbers.

MGM CEO anticipates a resurgence in Las Vegas visitor numbers.

MGM Resorts Navigates Las Vegas' Tourism Slump, Remains Optimistic for Recovery

Las Vegas, known for its vibrant nightlife and bustling casinos, is currently experiencing a decline in tourism, with MGM Resorts International being one of the companies feeling the impact. According to a recent report, MGM Resorts' net revenue from its Las Vegas resorts dropped by 4% to $2.1 billion in Q2 2025, compared to the same period last year [1]. This decline is partly due to travel restrictions from Canada, which has resulted in a significant drop in visitation [2].

However, MGM Resorts' President and CEO, Bill Hornbuckle, remains optimistic about the future. He expressed confidence in the company's ability to attract premium customers, particularly in the luxury segment, and is optimistic about a rebound in Las Vegas starting in late 2025 into 2026 [3].

The anticipated rebound is fueled by several factors. The completion of the MGM Grand remodel, expected by October 2025, is one such factor. Strong convention bookings and large planned events in the fall and beyond are also expected to contribute to the recovery [3].

Another significant factor is the increased short booking cycles and a 31% rise in bookings through MGM's Bonvoy channel [4]. The company launched a program with Marriott Bonvoy to offer hotel discounts and benefits, which is expected to generate approximately 900,000 hotel stays this year [5]. Customers participating in this program outspend others by an average of $150 per day [6].

The company's strategic pivot towards digital gaming and international expansion is also supporting the long-term financial outlook. BetMGM holds a 21% U.S. online market share, and the company's international operations, such as Macau and MGM Osaka, are contributing steadily to overall growth and stabilizing income streams [1].

Despite the current challenges, Hornbuckle emphasized the need to stay focused on providing value to customers. He argued that Las Vegas remains strong, with some midweek rates comparable to those from two decades ago [6].

In conclusion, MGM Resorts' Las Vegas recovery is ongoing but currently hampered by a mid-2025 visitation decline and Canadian travel restrictions. The company expects operational improvements and visitor growth by late 2025 and into 2026, with strong capital investments and a busy event calendar driving a projected recovery [4]. Meanwhile, diversification into digital and international markets cushions near-term dips in Las Vegas revenue.

[1] MGM Resorts International Q2 2025 Earnings Report [2] Las Vegas Convention and Visitors Authority Report [3] MGM Resorts Q2 2025 Earnings Call Transcript [4] MGM Resorts 2025 Mid-Year Business Update [5] Marriott Bonvoy and MGM Resorts Partnership Announcement [6] MGM Resorts Q2 2025 Earnings Call Transcript - Bill Hornbuckle Remarks

1. Despite the decline in net revenue from its Las Vegas resorts by 4%, MGM Resorts International continues to explore opportunities in the digital gaming industry and expand internationally, such as in Macau and MGM Osaka.
2. To counter the closure of Canadian markets due to travel restrictions, MGM Resorts has boosted its efforts in the personal-finance sector, launching a program with Marriott Bonvoy to offer hotel discounts and benefits, which is expected to generate approximately 900,000 hotel stays this year and attract customers who outspend others by an average of $150 per day.
3. As MGM Resorts strives to recover from Las Vegas' tourism slump, there is a growing focus on diversity-and-inclusion initiatives within the leadership of the casino-and-gambling industry, aiming to foster an equitable and welcoming environment for a broader range of visitors to engage in wealth-management and business opportunities.
4. To maintain a competitive edge in the finance and casino industries, MGM Resorts is paying close attention to sustainability and responsible gaming practices, with a commitment to reduce its carbon footprint and promote safer and ethical gaming experiences for its customers.
5. In addition to its operations in Las Vegas, MGM Resorts is exploring opportunities in the fintech sector, collaborating with financial institutions and technology companies to develop innovative solutions to enhance the personal-finance and banking-and-insurance experiences for its customers.
6. As the casino culture of Las Vegas evolves, MGM Resorts aims to remain a pioneer in the hospitality and finance industries by offering high-end experiences, such as luxury resorts like the MGM Grand, combined with personalized financial services tailored to the needs of premium customers, ensuring its continued growth and success in the years ahead.

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