2024-03-14 20:52:09 ET
MGM Resorts International (MGM)
J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum
March 14, 2024, 05:40 PM ET
Company Participants
William Hornbuckle - CEO and President
Jonathan Halkyard - CFO
Conference Call Participants
Joseph Greff - JPMorgan
Presentation
Joseph Greff
Good afternoon, everybody. We're continuing our fireside chat sessions, with the team from MGM Resorts. To my immediate left is Bill Hornbuckle, Chief Executive Officer; to his immediate left is Jonathan Halkyard, Chief Financial Officer. Thank you, gentlemen, for joining us and Sarah Rogers, who runs IR and other areas of finance is also in the audience along with Andrew Chapman. It would be beneficial to kind of start off sort of big picture. Talked sort of about this more recently as well. Bill, Jonathan, as you enter into the balance of 2024, maybe you can highlight and talk about what your top strategic priorities are?
William Hornbuckle
Sure. I'll kick it off and turn it over to Jonathan. So look, as we look at and think about our business, obviously, our core operations, our core brick-and-mortar is here in Las Vegas. And so we think about Las Vegas, we think about the big picture in the long term. We recently launched a Marriott transaction that has been very accretive very quickly, and we can probably spend some time on that a little bit talking about that.
We have the return of about 100,000 room nights this year over at Mandalay in the convention business. We think that's going to be very productive ultimately for us. We have like we've had every year for the last couple of years now between Allegion and all the other activity case, formal one, obviously, Super Bowl. The event activity, specifically around sports has been a key driver for the market. And ultimately, for us, as you think about our portfolio and the leverage up we have with luxury resorts and luxury properties....
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MGM Resorts International (MGM) CEO William Hornbuckle Presents at J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum Transcript