Skift Take
MGM Resorts sees strong demand at its Las Vegas resorts continuing through year-end, despite minor performance hiccups in the third quarter.
MGM Resorts sees strong demand at its Las Vegas resorts continuing through year-end, despite some performance hiccups in July and a more muted interest in Las Vegas' Formula 1 race in November.
"July was pretty bad for the entire community, including us," said CEO Bill Hornbuckle on Wednesday during an earnings call. "We had 8 days in a row of 120-degree heat compounded with [major highway] I-15 being relatively closed for 3 days due to a truck rollover. Then the quarter got better."
For October so far, MGM Resorts has seen an average occupancy rate of about 97%.
Looking ahead, a Formula 1 race in Vegas in November isn't turning