MGM Resorts president and CEO Bill Hornbuckle says he is hopeful that the company’s operations in Macau will be in a good position soon, despite a slower-than-desired recovery compared to Las Vegas.
During the Alliance Bernstein 37th Annual Strategic Decisions Conference, Hornbuckle was asked by Bernstein analyst Vitaly Umansky about his expectations for Macau’s recovery, which Umansky referred to as “disappointing” as a result of continued travel restrictions imposed by the Macau government.
“It is more disappointing than other places such as Las Vegas,” admitted Hornbuckle, noting a recent rise of Covid cases in Guangdong and the resulting effect on GGR.
“We’ll see ebbing and slowing over the next couple of quarters, but I can’t imagine as they continue to get jabs into their arms, albeit slower than the US, that we’re not going to return to a new norm.”
Source: Asia Gaming Brief