MGM Resorts is betting on best-ever returns next month, as March Madness and other big events converge on Las Vegas and Macau reopens.
Executives at casino-resort operator MGM Resorts International Inc. are betting on best-ever returns next month, as March Madness and other big events converge on Las Vegas and Macau reopens.
Hornbuckle made the remarks as the economy, for now, staves off a widely-feared recession, and as U.S. consumers remain eager to travel and seek out entertainment after two years of pandemic restrictions. And Vegas, just as much of a convention town as it is one for gambling, has benefited from a return of big events like CES, which last month drew more than 115,000 people.
Meanwhile, China and Macau — a global gaming epicenter and a special administrative region of China — are reopening after harsh COVID-19 lockdowns.“As you all know, COVID restrictions impacted our Macau operations in 2022, causing an operational loss that negatively impacted our overall results,” he said. “But we are experiencing a rebound in 2023 as our guests are returning in force, just as they did in Las Vegas when restrictions were lifted here.
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