Articles tagged “mgm resorts international”

Hotels

Hilton, Accor Won’t Have a China Growth Story to Tell Shareholders This Week

Hotel executives presented China as a definitive, massive growth opportunity to shareholders during the pandemic. But volatility in the development world as well as tough government oversight mean CEOs at companies like Hilton, Accor, and Wyndham need to find a new way to show strength.

Cameron Sperance | 1 month ago

Hospitality

Las Vegas Sands and Wynn Resorts Valuations Tank on Chinese Crackdown

Increased oversight from Chinese regulators in Macau threatens a massive financial hit to U.S. gaming resort operators. But don’t expect this to lead to a mass exodus to other gaming markets in Asia.

Cameron Sperance | 2 months ago

Coronavirus

MGM Resorts Aiming to Be Online Gaming Leader Using Real Estate Proceeds

Don't call it leaving Las Vegas so much as MGM Resorts taking advantage of inflated real estate prices to get into your pocket, by way of the increasingly lucrative online gaming business.

Cameron Sperance, Skift | 4 months ago

Coronavirus

MGM Resorts Plans to Offload Bulk of Its Real Estate Trust for $4.4 Billion

The sale to VICI Properties is the latest example of MGM Resorts following the hotel industry's "asset-light" business model and stepping back from real estate ownership. Some of the company's biggest landmark resorts, like the Bellagio, have already been sold off to Blackstone.

Ankit Ajmera, Reuters | 4 months ago

Coronavirus

This Is Marriott’s Earnings Week to Lose

If Accor can go from billion-dollar losses to profitability in a matter of months, Marriott shareholders should expect plenty of financial gains and optimism on Tuesday's earnings call.

Cameron Sperance, Skift | 4 months ago

Coronavirus

Blackstone Hungry for More Travel Assets Beyond $6 Billion Extended Stay Deal

Blackstone wants to capitalize on the upside of a travel recovery and invest in leisure and hospitality assets, but who doesn’t? There’s a ton of capital waiting on the sidelines competing for potential deals, which may not be that much of an opportunity after prices go up in bidding wars.

Cameron Sperance, Skift | 4 months ago

Coronavirus

Casinos Join Hotels on Asset-Light Strategy: What Took Them so Long?

If online gaming is the future of casinos, MGM Resorts' asset-light strategy in Las Vegas is only the beginning of a wave of resort sales to pump resources into digital gambling halls.

Cameron Sperance, Skift | 5 months ago

Coronavirus

Video: How Hotels Are Looking Ahead as Large-Scale Events Return

Watch a full session from our recent online event devoted to hotels and hospitality, and post-pandemic marketing strategy and planning.

Skift | 5 months ago

Coronavirus

Podcast: What Happens When Big Events Return?

Despite saying "nothing has changed," Hornbuckle knows things have changed and it's up to smart brands to figure out how to best position themselves.

Skift | 6 months ago

Coronavirus

Why MGM Resorts Is Placing a Huge Bet on Asia

The panic's over. Las Vegas' gigantic venues will soon be back selling things like concrete and computers at full capacity. Which is why MGM's CEO and president William Hornbuckle is looking further afield for the brand's next chapter.

Matthew Parsons, Skift | 6 months ago