mgm resorts international Archives

Coronavirus

Casino Resorts Look to Diversify Asia Growth Beyond Macau

MGM Resorts International and Las Vegas Sands aren’t writing off Macau, but they also aren’t solely focusing on China’s gaming hotspot for growth in Asia.

Cameron Sperance | 2 years ago

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 | 3 years ago

Hotels

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 | 3 years 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 | 3 years 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 | 3 years 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 | 3 years 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 | 3 years 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 | 3 years ago