Labor Day took on a whole new meaning this year seeing how crippled the labor force has become since the pandemic exacted its damage on the economy and the wellbeing of millions of Americans. But being resilient is a necessity rather than an option during these times, and the gaming industry has certainly led by example.
For the fall edition of Gaming America, we dedicate this issue to celebrating a
dynamic cross section of CEOs, each with their own story about how they reached the
heights of their profession, and the diligence it takes to maintain them. Land-based
operators certainly have had their work cut out for them as properties shut throughout
the spring. Green shoots started to appear in the summer, but there were setbacks,
and although some Q2 results show signs of promise, the revenue losses from
lost foot traffic speak for themselves.
The word on the street is that numbers won’t properly recover before 2022, so
between now and then, the added hard work and fresh ideas need to be enforced.
“Anyone can be a CEO in good times; it’s about who can be a good CEO in tough times,”
declares Golden Nugget CEO Tilman Fertitta on page 24. “You’ve got to make tough
decisions and that’s what I did, and that’s why we’re still here.” He certainly doesn’t sugar
coat anything, which is why either big or small, the companies that have been able to
bounce back quicker reacted to the risk early on and made the tough decisions others
weren’t ready to make. For many, once a decision was finally made, it was too late.
On page 32, Bill Hornbuckle, president and CEO of MGM Resorts International, is
equally steadfast in enduring the body blows to his properties and bottom line. Particularly
in Las Vegas, he says, this will be the most impactful crisis we’ve had to endure. But endure
he will. “We’ve been resilient as hell, the team has been amazing, the customers have been
amazing; their resilience and desire to want to come here,” he says, pulling no punches.
“Despite some closed amenities, they still come and are excited to be here. It’s manageable
now and getting better every day but obviously we still have a journey ahead of us.”
We also hear from Twin River, PointsBet, Ocean Resort Casino and DraftKings. They
might have different origins but they are equally resolute in their determination to
beat the overwhelming challenges of today and tomorrow, no matter the odds.
