Expanding Horizons: MGM Resorts’ Global Vision and Future in Gaming Markets
MGM Resorts Eyes Global Expansion Under Bill Hornbuckle’s Leadership
Las Vegas, NV – As MGM Resorts continues to thrive in its home base of Las Vegas, the company is embarking on a bold strategy for global expansion. Under the leadership of CEO Bill Hornbuckle, MGM Resorts is not merely a Vegas entity but is actively broadening its footprint into new international markets, particularly in Asia and the Middle East.
Looking East: Japan and Beyond
One of MGM Resorts’ most significant efforts is its venture into Japan, where the Ministry of Land, Infrastructure, Transport, and Tourism approved plans for a $10 billion integrated resort in Osaka this past April. Following the finalization of agreements with the Osaka Prefecture and City, construction on this expansive project is set to begin soon. Hornbuckle recognizes the Japanese market as a prime opportunity, noting that the move represents the culmination of a 12-year process filled with extensive planning and negotiation.
Hornbuckle explained, “What we do best is large-scale integrated resorts that, in the case of Japan, are $10 billion projects. If we were to replicate the Bellagio, it’s probably a $9 billion project. That’s what we do. It’s the kind of branding and experience we aim to take around the world.”
In addition to Japan, the executive is closely monitoring opportunities in the United Arab Emirates (UAE), with a particular focus on Dubai. The recent movements in the UAE, including Wynn’s recent agreement for a resort in Ras al-Khaimah and the establishment of the General Commercial Gambling Regulatory Authority, signal potential growth in the region.
Hornbuckle stated, “We believe over time, there’ll probably be three or four licenses in the Emirates. We’re going to be patient about this.” He expressed excitement about a non-gaming project in Dubai that will highlight MGM’s prestigious brands like Bellagio, MGM Grand, and ARIA at a site called Porto Island.
Challenges in Europe
Despite opportunities in Japan and the UAE, Hornbuckle acknowledges that expanding into Europe presents significant hurdles. He pointed out the challenge of competing with many smaller operators entrenched in the European gaming industry, alongside a tax environment that is not conducive to the large-scale projects MGM is known for.
“Do we regret anything? Hell no,” Hornbuckle affirmed when reflecting on past European ventures, including an exploration of potential supercasino sites in the UK over a decade ago. While early 2000s proposals for “supercasinos” amassed interest, Hornbuckle described how those plans ultimately fell apart after years of evaluating locations, including sites in Sheffield, Liverpool, and Glasgow.
Digital Expansion with BetMGM
While physical properties in Europe remain an uncertain avenue, MGM Resorts is already establishing a digital presence across the continent. Following its recent acquisition of LeoVegas for $604 million, the BetMGM brand is live in Great Britain, bolstered by a marketing campaign featuring comedian Chris Rock.
Hornbuckle envisions a pathway for MGM to become ‘the world’s premier gaming entertainment company,’ highlighting that as opportunities for large property builds diminish, digital offerings represent a promising frontier.
He explained, ‘Through BetMGM—both domestically and ultimately with what we do with LeoVegas—we want to diversify into digital… We think it’s a meaningful way to continue to reach customers 365 days a year.’
Integrating Experiences Through Omnichannel Services
In aiming for a seamless customer experience, Hornbuckle envisions MGM Resorts transforming into an omnichannel operation, allowing users to engage with their services across both digital and physical platforms.
“The average Vegas visitor comes 1.2 times a year,” he noted. To remedy this, the strategy includes providing a digital version of the on-property experience, thus driving repeat customers back to MGM’s properties in Las Vegas.
In support of this strategy, the company recently acquired game studio Push Gaming, which opens up avenues for exclusive content tailored for both online and brick-and-mortar guests. Hornbuckle plans to create distinctive offerings, such as unique slot games and live dealer experiences, aimed at attracting diverse audiences around the world.
Navigating the Future
Looking forward, Hornbuckle recognizes that the intersecting worlds of gaming and digital expansion will be vital for MGM Resorts’ growth. He anticipates that as legislation evolves in various international markets, the company may pursue further mergers and acquisitions to bolster its position.
“We’ll size up each market independently with partners, directly with the BetMGM brand, or through a local brand,” he stated, suggesting a strategic approach to international expansion.
As MGM Resorts competes at the forefront of the global gaming industry, Hornbuckle is poised to leverage both physical and digital platforms, creating a superior experience for customers both in Las Vegas and beyond. The upcoming ICE VOX event on February 5 will offer attendees a chance to hear more from Hornbuckle live, providing insights into the exciting future of MGM Resorts.