MGM Resorts CEO expresses optimism about Vegas visitor recovery, citing historical trends as a source of assurance.
In the second quarter of 2025, MGM Resorts International faced a temporary dip in its Las Vegas operations, with revenues declining by 4% year-over-year. This decline was mainly due to disruptions from the MGM Grand room remodel and a drop in table games hold[2][3][4].
Despite this setback, the company's leadership remains optimistic about the future. Strong convention bookings for Q4 2025 and beyond, along with expected growth from sports tourism, are expected to drive a positive medium-term recovery for MGM Resorts in Las Vegas[1].
The MGM Grand renovation is one example of MGM Resorts' ongoing investment in its properties[1]. The renovation is now being accelerated, with plans to complete it by the end of October 2025. This timely completion will position MGM to capitalize on refreshed rooms in time for the Las Vegas Grand Prix (F1) and the holiday season, which should boost demand and revenues[1][3].
MGM Resorts is also focusing on attracting premium customers, particularly in the luxury segment with properties like Cosmo, Aria, and the Bellagio[7]. To further entice customers, MGM has launched a hotel discount and perks program with Marriott Bonvoy, aiming for 900,000 hotel stays this year[6].
Customers participating in the Marriott Bonvoy program are outspending others by as much as $150 per day[8]. In fact, the Marriott Bonvoy program has seen a record of 25,000 bookings in a single week[8].
MGM Resorts' diversified growth is also evident in its regional operations, MGM China, and BetMGM ventures. MGM China posted revenue of $1.1 billion, a 9% increase compared to the prior year quarter[5]. Meanwhile, the passage of President Trump's Big Beautiful Bill has updated MGM Resorts' tax forecast from a liability of approximately $100 million this year to a positive refund of $100 million in 2025[9].
However, MGM Resorts is keeping an eye on taxation rates for high-volume gamblers, as currently, a 10% tax can be applied to 10% of losses[1]. The taxation rates on slot games being raised from $1200 to $2000 is seen as favorable by MGM Resorts[6]. On the other hand, the bonus depreciation provision of the Big Beautiful Bill is a point of contention for MGM Resorts, as it could result in a positive refund of $100 million in 2025 for the company[7].
The Las Vegas Convention and Visitors Authority reported a 11.3% decrease in visitation and a 10.7% decrease in conference attendance in June 2025[10]. MGM Resorts International's president and CEO, Bill Hornbuckle, attributed the decline in visitors to various factors, including a decrease in visitation from Canada[11]. Volume at Harry Reid International Airport has also declined[12].
Despite these challenges, MGM Resorts continues to focus on attracting premium customers and making strategic investments in its properties. With upcoming major events, capital improvements, and a focus on value, MGM Resorts expects to navigate the short-term headwinds and restore its growth trajectory for the back half of 2025 and into 2026[1][2][3].
In the midst of MGM Resorts International's temporary dip in revenue from casino-and-gambling activities in Las Vegas, the company is accelerating the MGM Grand renovation, aiming to complete it by October 2025. This timely completion will align with the Las Vegas Grand Prix (F1) and the holiday season, potentially boosting demand and revenues for casino-games.
MGM Resorts' strategic approach includes attracting premium customers, especially in the luxury segment, and offering promotions like the hotel discount and perks program with Marriott Bonvoy. These efforts aim to encourage 900,000 hotel stays this year, with customers participating in the Marriott Bonvoy program outspending others by as much as $150 per day.
