{"id":10363,"date":"2025-08-05T14:40:27","date_gmt":"2025-08-05T13:40:27","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=10363"},"modified":"2025-08-05T14:40:32","modified_gmt":"2025-08-05T13:40:32","slug":"mgm-resorts-reports-success-in-international-business-amid-domestic-challenges","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/08\/05\/mgm-resorts-reports-success-in-international-business-amid-domestic-challenges\/","title":{"rendered":"MGM Resorts Reports Success in International Business Amid Domestic Challenges"},"content":{"rendered":"\n<p><strong>MGM Resorts International<\/strong> is confident in the strength of its business in Europe and Asia, highlighting the progress of its <strong>BetMGM<\/strong> brand in highly competitive markets such as the United Kingdom.<\/p>\n\n\n\n<p>During its Q2 and H1 2025 earnings meeting held via video conference, <strong>MGM CEO Bill Hornbuckle<\/strong> and <strong>CFO Jonathan Halkyard<\/strong> told investors that the company\u2019s <strong>digital division revenue grew by 14% year-over-year<\/strong>, reaching <strong>$164 million<\/strong> (H1 2024: $143 million), driven by growth both in the U.S. and abroad.<\/p>\n\n\n\n<p>A key growth driver has been the <strong>BetMGM sportsbook brand<\/strong>, which was originally launched as a joint venture with <strong>Entain<\/strong> for the U.S. market. However, the brand is now also present in the <strong>UK, the Netherlands, and Sweden<\/strong>. Outside the U.S., BetMGM is <strong>wholly owned by MGM<\/strong> and operated through its European holding company, <strong>LeoVegas Group<\/strong>.<\/p>\n\n\n\n<p>According to company leadership, the European launches have been successful. While the Q2 financial report does not provide detailed figures for the UK market, both Hornbuckle and Halkyard stated that <strong>BetMGM\u2019s prospects in Europe are promising<\/strong>.<\/p>\n\n\n\n<p>Halkyard said: \u201cThe BetMGM brand extension has driven improved results in existing markets, including the UK, Netherlands and Sweden. Marketing and bonus optimisation combined with opex management have been strong drivers of our cost management efforts.<\/p>\n\n\n\n<p>\u201cThe brands we\u2019re investing in are beginning to achieve meaningful scale, and BetMGM brands are achieving all time heights as they grow. Our full year 2025 adjusted EBITDA expectations remain consistent with last year at MGM Digital.\u201d<\/p>\n\n\n\n<p>BetMGM launched in the UK in August 2024, and MGM has pumped a lot of money into the brand in areas like marketing, signing deals in top-flight football and professional darts. A preceding launch in the Netherlands in April and a subsequent launch in Sweden in October that same year saw a similar pattern play out. It has since been taken live in <strong>Brazil.<\/strong><\/p>\n\n\n\n<p>\u201cIn the absence of the investments we\u2019re making in Brazil, we\u2019re basically beginning to achieve break-even in the rest of the MGM digital portfolio,\u201d Hornbuckle told an analyst on this week\u2019s earnings call.<\/p>\n\n\n\n<p>While noting continuing growth of the \u2018core LeoVegas business\u2019, MGM Resort\u2019s CEO stated that \u201cthe bulk of the growth is coming from the BetMGM branded businesses internally, which we\u2019ve invested in over the course of the past year and half quite heavily\u201d.<\/p>\n\n\n\n<p>\u201cWe are definitely seeing returns from that, and don\u2019t see anything between now and the end of the year that would suggest that those trends would be interrupted and would continue to operate with that level of profitability.\u201d<\/p>\n\n\n\n<p>International operations will likely become ever more crucial to MGM, and perhaps even more significantly to its investors, over the coming years. This is because the company\u2019s heartland \u2013 <strong>Las Vegas, Nevada<\/strong> \u2013 is having some trouble with visitation, something noted by analysts on the group\u2019s recent earnings call.<\/p>\n\n\n\n<p>Local media reports from Nevada show a lot of local concern about Vegas tourism figures. The number of people flying in through Harry Reid International Airport dropped by 6% YoY in June 2025, for example, and total visitor numbers to the city were down to 3,094,800 from 3,490,061 the year prior.<\/p>\n\n\n\n<p>MGM\u2019s figures do not show a huge impact from this, with <strong>Las Vegas Strip<\/strong> revenue down 4% from $2.2bn to $2.1bn, attributed to a lower visitor numbers due to a room remodeling and fewer table games held at the MGM Grand Las Vegas.<\/p>\n\n\n\n<p>\u201cHistory gives us confidence,\u201d Hornbucke said on the call. \u201cI think what we have seen, starting in May, is a nine week decline in bookings, and now over the past month those bookings have increased. Over the past three weeks in a row we\u2019ve seen an increase in bookings, and that gives us confidence.\u201d<\/p>\n\n\n\n<p>Leadership exerts confidence to investors that visitor numbers and subsequent revenues in Las Vegas rebound, particularly when <strong>Formula One<\/strong> returns to the city in Q4. Regardless, it makes a lot of sense that international diversification might be high on the company\u2019s agenda right now.<\/p>\n\n\n\n<p>Then there\u2019s the impact of taxation. For one thing, there\u2019s <strong>Donald Trump<\/strong>\u2019s \u2018<strong>Big Beautiful Bill<\/strong>\u2019, which is projected to impact professional gamblers\u2019 pockets in particular but potentially also casual gamblers.<\/p>\n\n\n\n<p>Perhaps more significant is pre-bet taxes, like Illinois\u2019 25 cent tax on the first 20 million sports bets taken by a sportsbook, rising to 50 cents after the 20 million threshold is cleared. This is putting pressure on operators, but also customers, as some sportsbooks have started charging bet fees or have shortened odds to compensate for the tax burden.<\/p>\n\n\n\n<p>All of these factors could make a greater international presence even more appealing.<\/p>\n\n\n\n<p>Of course, we cannot take an overview of MGM\u2019s overseas operations without talking about Brazil, which is particularly significant for BetMGM. The sportsbook secured Brazil market launch in February via a partnership with major media outlet <strong>Grupo Globo,<\/strong> just a month after the regulated market was launched under the \u2018Bets\u2019 regime.<\/p>\n\n\n\n<p>This market has captivated the attention of gaming PLCs far and wide from Europe to America to prominent local Latin American firms \u2013 it\u2019s not a huge shock that MGM Resorts is no different, and Hornbuckle acknowledged to analysts that overall \u2018investment is concentrated in Brazil\u2019, and taking note that \u2018player values are strong down there\u2019.<\/p>\n\n\n\n<p>\u201cWe really took flight with respect to our investments in Brazil. In Q2 we got the product in a good shop, we turned on the marketing with a reasonable level of aggression, and we\u2019re very happy about what we\u2019re seeing.\u201d<\/p>\n\n\n\n<p>For all of MGM\u2019s European and Latin American efforts though, there is one market that was on many analysts\u2019 minds \u2013 East Asia, specifically <strong>Macau,<\/strong> which hosts the <strong>MGM Macau<\/strong> resort. This asset has proven to be a solid growth driver according to its Q2 report.<\/p>\n\n\n\n<p>Q2 was a record quarter for MGM Macau, Halkyard remarked. The company is particularly focused on premium player accounts, though visitation and player account numbers are up across the board, driving casino revenue up 10% to $997m ($891m).<\/p>\n\n\n\n<p>\u201cWe are seeing more and more customers come for refreshing experiences and the quality of products and services,\u201d said <strong>Kenneth Xiaofeng Feng<\/strong>, President of Strategic, CFO and Executive Director of <strong>MGM China Holdings.<\/strong><\/p>\n\n\n\n<p>\u201cIf we come to MGM China, we will continue to see a very strong trend in July, our performance is very robust. We see a strong audience in nearly all business segments and a solid market share in the market.\u201d<\/p>\n\n\n\n<p>In the years since PASPA\u2019s repeal in 2018, the US betting space quickly became one in which many companies have struggled to stand out, dominated by market leader <strong>FanDuel<\/strong> and second place <strong>DraftKings,<\/strong> with BetMGM firmly in third place \u2013 well ahead of many smaller competitors, but not quite up there with the big two mentioned above.<\/p>\n\n\n\n<p>Though the market continues to grow in terms of overall volume and revenue growth, the wait for some big states like California and Texas to open their doors to sports betting is growing tiresome and competition is not getting any less fierce.<\/p>\n\n\n\n<p>Meanwhile, with federal tax changes, pre-bet taxes in states like Illinois, and the rise of prediction markets further complicating things for US operators, firms in Europe, Asia and South America should be prepared for the likes of MGM Resorts to keep chasing leads in their backyards.<\/p>\n\n\n\n<p>Don&#8217;t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM Resorts International is confident in the strength of its business in Europe and Asia, highlighting the progress of its BetMGM brand in highly competitive markets such as the United Kingdom. During its Q2 and H1 2025 earnings meeting held via video conference, MGM CEO Bill Hornbuckle and CFO Jonathan Halkyard told investors that the [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":10364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[448,9448,13546,5122,4520,205,201,398],"class_list":["post-10363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-betmgm","tag-bill-hornbuckle","tag-jonathan-halkyard","tag-leovegas-group","tag-mgm-resorts-international","tag-netherlands","tag-sweden","tag-uk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MGM Resorts Reports Success in International Business Amid Domestic Challenges - SBC EURASIA EN<\/title>\n<meta name=\"description\" content=\"MGM Resorts International is confident in the strength of its business in Europe and Asia, highlighting the progress of its BetMGM brand in highly competitive markets such as the United Kingdom.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2025\/08\/05\/mgm-resorts-reports-success-in-international-business-amid-domestic-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Resorts Reports Success in International Business Amid Domestic Challenges - 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