MGM Resorts International is doubling down on digital gaming, property renovations, and global expansion. Speaking at the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum on March 13, CEO Bill Hornbuckle and CFO Jonathan Halkyard detailed plans that include a projected $2.5 billion in revenue from BetMGM, a $300 million upgrade to MGM Grand, and gaming prospects in Japan, Thailand, and Brazil.
BetMGM, the company’s online gaming and sports betting joint venture with Entain, is a top priority. “I think you will see our BetMGM business at $2.5 billion give or take and our internet interactive group go to about a half-billion with Brazil on the horizon,” Hornbuckle said. MGM has been shifting away from heavy marketing spending and focusing on improving its digital platform.
The company also remains committed to Las Vegas, investing $300 million into renovating rooms at MGM Grand, a long-overdue update meant to attract both leisure and business travelers. So far, 600 rooms have been completed. The company is also repurposing furniture from the Bellagio at Luxor and from MGM Grand at Excalibur.
Operational efficiencies are another major focus, with MGM targeting $200 million in savings this year, including $150 million already planned. Part of this effort includes automation, such as mobile check-in kiosks, and increasing fees for parking, ATMs, and resort stays.
Halkyard reported that January was a strong month for Las Vegas operations, with gaming and room rates performing well. He expects steadier results throughout the year, particularly as comparisons with last year’s Super Bowl fade.
MGM’s international expansion is also gaining momentum. Hornbuckle is heading to Japan next week to finalize plans for its integrated resort in Osaka, which is set to open in 2030. Construction will begin in April.
In Thailand, the company is monitoring developments as lawmakers discuss legalizing casinos. “I’d like to think that by the first part of next year, there’s real legislation and that process that has been identified,” Hornbuckle said. If MGM enters the market, it would likely operate under its MGM China entity.
CEO Bill Hornbuckle
Meanwhile, the online Brazil market is proving to be a challenge due to regulatory hurdles such as facial recognition requirements and a complex sign-up process. Despite these obstacles, Hornbuckle sees potential. “Brazil will be that story and BetMGM in a couple more markets goes from a half-billion to a billion top-line business,” he said.
Future iGaming expansion is likely in states with Democratic leadership, where lawmakers are more open to new revenue sources, management said. Currently, Pennsylvania, Michigan, and New Jersey account for two-thirds of MGM’s iGaming revenue, but additional states could bring major gains. “It’s not the panacea we’d hoped,” Hornbuckle said. “But if a single state comes onboard, there are big numbers to be had.”
Hornbuckle also expressed confidence that the Oakland A’s planned move to the city will have a positive impact on MGM’s properties, given their proximity to the proposed stadium site. “Sports has been and will continue to be a key driver,” he said.
While MGM’s T-Mobile Arena sometimes loses bookings to Allegiant Stadium, the overall effect of additional sports teams and events has been beneficial. Hornbuckle also suggested that the National Finals Rodeo could relocate to the A’s stadium, further boosting MGM’s footprint in the city’s sports landscape.
Original article: https://www.yogonet.com/international/news/2025/03/14/98153-mgm-outlines-25b-betmgm-growth–300m-vegas-upgrades-and-global-casino-plans
