LAS VEGAS (FOX5) -- The New York-New York and Bellagio might be the first of MGM Resorts to reopen in Las Vegas.
Acting CEO Bill Hornbuckle said on Thursday that the company is looking at reopening “two or three properties initially” as soon as officials deem it is safe to do so.
“We tend to lean into New York-New York because it’s one of our simpler places to run; it’s 2,000 rooms. We’re probably looking at Bellagio at the other end,” he said.
Hornbuckle made the comment while reporting MGM Resorts International’s first quarter earnings, which he said were “ahead of expectations” at the beginning of the year, but took a downturn because of the COVID-19 pandemic and resulting closure of properties across the U.S.
MGM Resorts reports a 21 percent dip in revenue in the first quarter of 2020 compared to the prior year quarter.
During the report, he also said that properties nationwide that rely on air travel might reopen slower than other properties.
“We anticipate that regional drive markets obviously will be done faster than fly-in destinations. Once Las Vegas casinos are allowed to open, we’ll have made decisions about property openings based on consumer demand and the economics of individual properties,” he said.
Hornbuckle said another priority for reopening would be reopening “high-end” properties in order to compete with others on the Strip.
“I’m sure the competitors that are down the street are going to open because they only have one, in the context of Wynn and Sands, so I want to be in the high-end business,” he said.