MGM Resorts International is expressing confidence in the future of Las Vegas and the online gambling industry, according to a recent report by Bloomberg.
The casino giant, which operates several prominent resorts on the Las Vegas Strip, including the Bellagio and MGM Grand, is bullish on the prospects for growth in both the traditional brick-and-mortar gambling market and the burgeoning online gambling sector.
MGM CEO Bill Hornbuckle told Bloomberg that the company sees Las Vegas as a key component of its long-term growth strategy. Despite recent setbacks caused by the COVID-19 pandemic, Hornbuckle expressed optimism about the city’s ability to bounce back and thrive once again.
“We believe that Las Vegas will return to its former glory as one of the world’s premier entertainment destinations,” Hornbuckle said. “We are committed to investing in our properties and creating new and innovative experiences for our guests.”
In addition to its focus on Las Vegas, MGM is also bullish on the potential for growth in the online gambling industry. The company has been actively expanding its presence in the digital gaming space, launching its BetMGM online sports betting and casino platform in multiple states across the US.
“We see online gambling as a huge growth opportunity for our company,” Hornbuckle said. “We believe that as more states legalize and regulate online gambling, there will be significant potential for revenue growth in this sector.”
MGM’s optimism about the future of Las Vegas and online gambling comes at a time when the casino industry is facing unprecedented challenges. The COVID-19 pandemic forced casinos to shut down for an extended period, leading to significant revenue losses for many companies.
Despite these challenges, MGM remains confident in its ability to weather the storm and emerge stronger on the other side. The company’s investment in online gambling and its commitment to enhancing its Las Vegas properties are key components of its strategy for long-term success.
As Las Vegas continues to reopen and recover from the impacts of the pandemic, MGM’s bullish outlook on the city and the online gambling industry could prove to be well-founded. With its strong brand presence and strategic investments, the company is well-positioned to capitalize on the opportunities that lie ahead in the world of gambling and entertainment.
