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☆ MGM Resorts CEO Bill Hornbuckle talks Las Vegas' travel boom
▼ + stars: | 2024-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGM Resorts CEO Bill Hornbuckle talks Las Vegas' travel boomHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Bill Hornbuckle, Brian Sullivan, “ Organizations: MGM Resorts, CNBC Locations: Las Vegas

☆ After Averting a Hotel Strike, Las Vegas Still Has a Lot of Work to Do
▼ + stars: | 2023-11-10 | by ( Kurtis Lee | More About Kurtis Lee | ) www.nytimes.com time to read: +1 min

The final agreement, with Wynn Resorts, came early on Friday, a few hours before the strike deadline. The deal, when ratified, would provide “outstanding benefits and overall compensation to our employees,” Wynn said in a statement. A strike loomed as a major disruption to a series of big events, starting with the Las Vegas Grand Prix, a Formula 1 auto race along The Strip that is expected to draw hundreds of thousands of visitors late next week. Along with the Formula 1 race, Las Vegas is the site of the National Finals Rodeo in December and the Super Bowl in February. Bill Hornbuckle, the chief executive of MGM, said in a Wednesday earnings call that his company had sold more than 10,000 tickets to the Grand Prix and expected to bring in $60 million in extra hotel revenue in the days ahead.

Persons: ” Wynn, Bill Hornbuckle Organizations: Wynn Resorts, Las Vegas, Vegas, —, Bowl, MGM, Prix Locations: Nevada, Vegas

LAS VEGAS (AP) — MGM Resorts International, the largest employer on the Las Vegas Strip, was close to reaching a tentative deal with the hotel workers union, the casino company’s CEO said as the clock ticked closer to a union deadline for a sweeping strike. “This deal, when announced, will do just that.”During a break in bargaining, the union’s chief contract negotiator said he welcomed Hornbuckle’s sentiments. The union caught a break at dawn Wednesday when it reached a tentative deal with Caesars that covers 10,000 workers at the company’s flagship Caesars Palace, as well as Flamingo, Harrah’s, Horseshoe, Paris Las Vegas, Planet Hollywood, Cromwell and Linq. But experts say a walkout isn’t likely now that the union has a blueprint for a contract after reaching its breakthrough deal with Caesars. That includes walkouts in Hollywood, UPS’ contentious negotiations that threatened to disrupt the nation’s supply chain, and the ongoing hotel workers strike at Detroit’s three casinos, including MGM Grand Detroit.

Persons: Bill Hornbuckle, ” Hornbuckle, “, Ted Pappageorge, Cromwell, Linq, Joshua Guray, Guray, ”, Bill Werner, Tiffany Thomas, Bethany Khan, hasn’t, Khan, ” Khan Organizations: LAS VEGAS, MGM Resorts International, Las, Culinary Workers Union, MGM Resorts, Caesars Entertainment, Wynn Resorts, Caesars, Associated Press, University of Nevada, MGM Grand Detroit, Las Vegas, MGM, Wynn, Workers Locations: Harrah’s, Horseshoe, Paris Las Vegas, Las Vegas, Los Angeles, Hollywood, Luxor, Mandalay Bay, New York

An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. The culinary workers and bartenders Unions said that 25,470 workers have a new five-year tentative agreement with MGM. Casino resort operators have been earning record profits from a steady post-pandemic recovery in Las Vegas tourism. Caesars Entertainment (CZR.O), the second-biggest Las Vegas casino operator after MGM by number of employees, said that its deal with the unions provides "meaningful wage increases." Visits to Las Vegas in September were 4% lower than in the same period in 2019, the year before the pandemic, according to data from the Las Vegas Convention and Visitors Authority.

Persons: Bridget Bennett, Ted Pappageorge, We're, Bill Hornbuckle, Wynn, Ananta Agarwal, Arun Koyyur Organizations: MGM, MGM Resorts, REUTERS, MGM Resorts International, Unions, Caesars Entertainment, Culinary Union, Las, Wynn Resorts, Las Vegas Convention, Visitors Authority, Thomson Locations: Las Vegas , Nevada, U.S, Las Vegas, United States, Detroit, Vegas, Bengaluru, Doyinsola, New York

☆ Casino operator MGM beats third-quarter estimates as China travel rebounds
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett/File Photo Acquire Licensing RightsNov 8 (Reuters) - MGM Resorts International (MGM.N) beat market estimates for third-quarter profit and revenue on Wednesday, as the casino operator benefited from easing pandemic-related entry restrictions in its key markets. The post-pandemic travel rebound in China and Macau has been a tailwind for casino operators such as MGM Resorts and Las Vegas Sands Corp (LVS.N). "MGM China is performing exceptionally well," MGM's CEO Bill Hornbuckle said in the statement. Last month, MGM had said it expects a $100 million hit to its third-quarter results after a cyberattack disrupted its operations, forcing a shutdown of its systems.

Persons: Bridget Bennett, Bill Hornbuckle, Priyamvada, Shilpi Majumdar Organizations: MGM, MGM Resorts, REUTERS, MGM Resorts International, Vegas Sands Corp, Wynn Resorts, Thomson Locations: Las Vegas , Nevada, U.S, China, Macau, MGM China, Bengaluru

☆ Earnings playbook: How to trade the biggest reports this week, including Disney
▼ + stars: | 2023-11-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Horton is set to report earnings before the bell, followed by a conference call at 8:30 a.m. Wednesday Biogen is set to report earnings in the premarket. Disney is set to report earnings after the close, with a conference call scheduled for 4:30 p.m. MGM Resorts is set to report earnings after the closing bell, with a call slated for 5 p.m. What history shows: MGM only exceeds earnings estimates 53% of the time, Bespoke data shows.

Persons: Horton, FactSet's John Butters, Butters, D.R, DHI, BIIB, WBD, Max, Bank of America Jessica Reif Ehrlich, Goldman Sachs, Brett Feldman, Bill Hornbuckle, — CNBC's Michael Bloom Organizations: Disney, MGM Resorts, CNBC, LSEG, Federal Reserve, Investment, Warner Bros, Warner Bros Discovery, Warner, Bank of America, MGM Locations: Macao

☆ MGM CEO Bill Hornbuckle on culinary unions going on strike in Las Vegas
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGM CEO Bill Hornbuckle on culinary unions going on strike in Las VegasThe MGM chief says he's hopeful the two sides can reach an agreement soon.

Persons: Bill Hornbuckle Organizations: MGM Locations: Las Vegas

☆ MGM Resorts CEO Bill Hornbuckle: Cyberattack is behind us, and we're looking forward
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGM Resorts CEO Bill Hornbuckle: Cyberattack is behind us, and we're looking forwardMGM Resorts CEO Bill Hornbuckle joins 'Squawk on the Street' to discuss how much of the cyberattack is in the rearview mirror, the attack's impact on the brand, and more.

Persons: Bill Hornbuckle Organizations: MGM Resorts

NEW YORK (AP) — The cybersecurity attack at MGM Resorts last month is expected to cost the casino giant more than $100 million, the Las Vegas-based company said in a Thursday regulatory filing. MGM wasn't the only casino giant to see a cybersecurity breach last month. The Reno-based company said that its casino and online operations were not disrupted. Beyond the casino world, Clorox also disclosed a cybersecurity attack recently — noting the company identified “unauthorized activity” on some of IT systems back in August. ________________AP Reporters Ken Ritter and Rio Yamat in Las Vegas contributed to this report.

Persons: Bill Hornbuckle, Hornbuckle, Hornbuckel, Clorox, Ken Ritter, Rio Organizations: MGM Resorts, Las, MGM, Social, Securities and Exchange Commission, Caesars Entertainment, Caesars, Wall Street, ________________ Locations: Las Vegas, Reno

☆ Marriott enters licensing deal with MGM to boost presence in Las Vegas strip
▼ + stars: | 2023-07-17 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

[1/3] Logo of Marriott hotel is seen in Vienna, Austria April 9, 2018. REUTERS/Heinz-Peter Bader/File Photo/File PhotoJuly 17 (Reuters) - Marriott International (MAR.O) said on Monday it entered a 20-year licensing agreement that will allow its loyalty members to earn and redeem existing points for booking stays at MGM Resorts International's (MGM.N) properties. The pair launched "MGM Collection with Marriott Bonvoy," which will allow members of the Marriott Bonvoy rewards program to earn and redeem points for stays at 17 MGM resorts across the United States and Canada. MGM's 40 million members will gain access to the Bonvoy loyalty program. Marriott will earn fees on total room revenue on the MGM Resorts that are part of the agreement, Marriott CEO Anthony Capuano said.

Persons: Heinz, Peter Bader, Marriott, Kate Xiao, Bill Hornbuckle, Bernstein's Xiao, Anthony Capuano, Barry Jonas, Aishwarya Nair, Shweta Agarwal, Will Dunham Organizations: REUTERS, Marriott, MGM Resorts, MGM, Cosmopolitan, Bernstein Hotels, Reuters, Truist Securities, Thomson Locations: Vienna, Austria, United States, Canada, Las Vegas, Marriott's, Bengaluru, Doyinsola, New York

☆ MGM & Marriott team up for long-term strategic licensing agreement
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGM & Marriott team up for long-term strategic licensing agreementTony Capuano, MGM Resorts CEO, and Bill Hornbuckle, Marriott CEO, joins 'Squawk on the Street' to discuss why it matters to have more rooms in Las Vegas for Marriott, what MGM gets out of a partnership with Bonvoy, and more.

Persons: Tony Capuano, Bill Hornbuckle, Bonvoy Organizations: MGM, Marriott, MGM Resorts Locations: Las Vegas

☆ Marriott and MGM link loyalty programs in a bid on business travelers
▼ + stars: | 2023-07-17 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

Marriott and MGM Resorts International announced a partnership Monday to link their loyalty programs and give customers more options for cashing in. Under the deal, MGM guests in the United States can earn Marriott Bonvoy rewards points and Bonvoy members will in turn have access to 17 MGM properties when they spend their points. Those loyalty programs drive business and help to differentiate competitors at a time when travel is continuing to rebound from a pandemic pause. Marriott CEO Tony Capuano said MGM Resorts brings a wealth of intellectual property to the portfolio as well as entertainment, high-end culinary options and other one-of-a-kind experiences. Customers of MGM's sportsbook will earn Bonvoy points on some transactions, and Bonvoy members will see MGM sportsbooks marketing on the Marriott site.

Persons: Bill Hornbuckle, Bonvoy, Tony Capuano, Capuano, Hornbuckle, sportsbook, Adam Greenblatt, Dawn Giel, Jessica Golden, Kasey O'Brien Organizations: Marriott, MGM Resorts International, MGM, CNBC, Las, Cosmopolitan, MGM Resorts, Caesars, Entain Locations: United, Vegas, United States

☆ Golden Knights' Stanley Cup win cements Las Vegas as a big-time sports city
▼ + stars: | 2023-06-14 | by ( Contessa Brewer | ) www.cnbc.com time to read: +2 min

Mark Stone #61 of the Vegas Golden Knights celebrates with the Stanley Cup after the Vegas Golden Knights won the NHL Stanley Cup Final against the Florida Panthers on June 13, 2023 at T-Mobile Arena in Las Vegas, Nevada. The Stanley Cup belongs to Sin City. The Vegas Golden Knights, in just their sixth season in the NHL, won the league's championship Tuesday night, completing a 4-1 series victory over the Cinderella Florida Panthers. Now, the who's who of Las Vegas have become Golden Knights fans. Murren championed the WNBA's Las Vegas Aces, which MGM owned at the time and later sold to Las Vegas Raiders owner Mark Davis in 2021.

Persons: Mark Stone, Bill Foley, It's, Bill Hornbuckle, Jim Murren, Murren, Mark Davis, Davis Organizations: Vegas Golden Knights, NHL, Florida Panthers, Mobile, The Vegas Golden Knights, Cinderella Florida Panthers, Vegas, Las, Golden Knights, MGM, CNBC, Sports City, Las Vegas Aces, Las Vegas Raiders Locations: Las Vegas , Nevada, Sin City, Las Vegas, Sin, Vegas, California

☆ Americans are spending less money even as the Chinese spend more. Take a look at the 5 major US companies winning on China's spending spree.
▼ + stars: | 2023-05-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

As people in China get out of their homes to travel and spend, retail sales have improved in China, rising almost 11% year-on-year in March. In comparison, China's core inflation rose just 0.7% in March from a year ago, according to official data from Beijing. All this means American companies facing a slowdown in US consumption are getting a boost from Chinese demand. He added the MGM China division posted a "swift return to profitability." Net revenues for the MGM China division were also 130% higher from a year ago "amid strong reopening trends," MGM said in its earnings release.

☆ MGM Resorts beats Wall Street estimates for first-quarter revenue
▼ + stars: | 2023-05-01 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, May 1 (Reuters) - MGM Resorts International (MGM.N) on Monday beat Wall Street estimates for first-quarter revenue due to an increase in traffic and business volumes in Macau and Las Vegas. Casino operators are benefiting from the rebound in traffic in gaming hubs as travel and tourism spending from China rebounds. "MGM Resorts is executing across all of its geographies and channels with record first quarter Las Vegas Strip Adjusted Property EBITDAR, consistently strong Regional Operations profit, MGM China's swift return to profitability," said MGM Resorts CEO Bill Hornbuckle in a press release. The Las Vegas-based casino operator posted an adjusted first-quarter gain of 44 cents per share, beating analysts' expectations for a gain of 1 cent a share. The casino operator's revenue rose to $3.9 billion in the first quarter from $2.9 billion a year ago and surpassed analysts' average estimate of $3.6 billion.

☆ MGM Resorts sells land on Las Vegas Strip that was site of 2017 massacre
▼ + stars: | 2022-12-31 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

LAS VEGAS — MGM Resorts International has closed on the sale of land on the Las Vegas Strip that was the site of the deadliest mass shooting in modern U.S. history, the company announced Friday. The 15-acre Village property was purchased by the Three Affiliated Tribes of the Fort Berthold Indian Reservation based in central North Dakota. Concertgoers at the Route 91 Harvest Festival gathered there on Oct. 1, 2017, when a gunman opened fire from his hotel room above. Planning for the memorial has been underway since late 2019, but it could be years before the final tribute is unveiled. But the Tribes “have demonstrated that they care about our community, its future and, of course, its past,” he wrote.

☆ MGM Resorts CEO Bill Hornbuckle discusses current economic landscape
▼ + stars: | 2022-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGM Resorts CEO Bill Hornbuckle discusses current economic landscapeBill Hornbuckle, president and CEO of MGM Resorts, joins CNBC's Contessa Brewer to discuss the current economic landscape for gaming and sports betting.

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