MGM Resorts International (NYSE:MGM) Q3 2023 Earnings Call Transcript

Corey Sanders: And for that holiday, it does expand for a little bit over a week. So we will separate the party the Super Bowl to make sure that we maximize both opportunities.

Chad Beynon: Hopefully, there’s a compounding effect. I appreciate it.

Operator: And the last question today is from Jordan Bender with JMP Securities. Please go ahead

Jordan Bender: Great. Thanks for taking my question. We’ve talked about in past calls just on the relocation — and if there is a CapEx requirement, maybe is part of that. But does it make sense to maybe potentially expand the asset base on the south end of the strip just given your liquidity position?

William Hornbuckle: So update, I literally was with their team and their owner yesterday. They are excited to be coming. The vote is, I think, on the 16 for the owners. And obviously, they have to get through that. They won their court case this week, which was important. There was a petition here in Nevada to slow them down. And so — and they actually showed me the design, which was spectacular, I might add. So we’re all excited by that. Look, I think you’ll see is, particularly, I’ve mentioned this briefly, rethink about the MGM of note. It’s our legacy brand. It’s on the corner of Tropin Las Vegas Boulevard. It’s 30 years old and it needs some attention, particularly at the front end of intersection. And so I think you’ll see us invest there.

I think you’ll see us invest in the way people move around that corner and make it in concert and synergistic with the design I saw yesterday. We’ve already connected our architect with theirs to kind of talk about all of that. And to the extent we really see this thing going up in the air, and I think we will. I think over time, if Las Vegas continues to do the kinds of things it’s been doing, we’d be foolish not to.

Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to Bill Hornbuckle for any closing remarks.

William Hornbuckle: Thanks, operator. I made my comments earlier. Again, I just want to call out to our staff here for getting us through the cyberattack. I appreciate everyone’s patience with us. I appreciate your trust in us and ultimately, anyone coming next week, let’s go racing because I want to have some fun for once. Thank you all.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.