The earnings call flagged up that Q1 was negatively impacted by “midweek property and hotel closures, lower business volume and travel activity and ongoing operational restrictions due to the pandemic primarily at its Las Vegas Strip Resort properties.” MGM Resorts posted consolidated net revenues of $1.6 billion, down 27% on the prior 2020 quarter. Nevada on the comeback trailĭuring the Q1 2020 earnings call, MGM Resorts noted its best quarterly operating results in Las Vegas since reopening. He also admitted that the process is “tenuous in some respects” considering Japan’s current COVID-19 lockdown. On Wednesday, Hornbuckle said MGM-ORIX intends to submit its RFP by the submission deadline in July 2020. Osaka officials, however, have launched an additional request for proposals (RFP) because of a revision made to the Honshu Island city’s Integrated Resort Implementation Policy. It had established an office in Osaka in January 2019 and also partnered with ORIX, a Japanese diversified financial services group. Despite facing stiff competition from other big players including Wynn Resorts and Las Vegas Sands, MGM Resorts had a strategic advantage. MGM first tabled its interest in securing an Osaka casino resort license in May 2019. In April 2021, government officials in the Japanese city of Osaka confirmed that a consortium fronted by MGM Resorts is the sole contender for its casino resort license. MGM focusing on Vegas, JapanĪccording to CDC Gaming Reports, MGM Resorts CEO Bill Hornbuckle said the Sin City-based casino operator’s focus is on getting Las Vegas “back to 100%”.Ī transcript of the Wednesday earnings call cites Hornbuckle as stating that MGM was “still very focused” on pursuing its license for a casino resort in Japan.

Aside from this, the operator that wins the bid will have carte blanche to provide its vision for the IRC’s location and facilities through the request for proposals process.Ī bid from MGM Resorts for the downtown Chicago resort was seemingly in the cards, as it was one of three casino operators – along with Wynn Resorts and Hard Rock International – to contribute to the city’s request for information on the process last year.

The proposed downtown Chicago IRC will include a casino, a hotel with up to 500 rooms, restaurants, bars, entertainment venues, and convention space.

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