MGM prepares for re-openings

Exact date still needs to be set as Q1 results are assessed.

MGM Resorts International is preparing to open some of its US properties. Bellagio and New York-New York on the Las Vegas Strip were on the list, but acting CEO Bill Hornbuckle admitted there’s no exact date set to reopen the locations yet. Nevada’s governor Steve Sisolak announced the lockdown will remain in place until May 15, but it’s possibly through May.

The two casinos were the most high profile but Beau Rivage and Gold Strike, MGM’s properties in Mississippi, might see a faster opening, with the state’s governor Tate Reeves stating the casinos will likely open by Memorial Day weekend. He added that the casinos won’t be the same, as people will have to adapt to new safety standards, but also noted “I think they know that. They’re comfortable with that.”

Due to shutdowns, MGM experienced a 29.1% decline in revenues to $2.3 billion for the first quarter compared to the same period last year. The company also furloughed 63,000 employees. Nevada’s lockdown has been particularly impactful since most of the company’s properties are there.

Hornbuckle stated, “We’re the largest employer and the largest taxpayer in Nevada. Gaming is the most important industry in the state,” but also noted, “It is still premature to predict the opening dates of our domestic properties.”

Violeta Prockyte

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