GM Resorts International CEO, Bill Hornbuckle has made it clear that he deems the Nevada’s gaming industry to be “missing a significant opportunity for growth” as it remains reluctant to legalize online casino gaming.
Hornbuckle assures that there is a “whole contingent of folks” in the state who own brick and mortar casinos and do not favor legalizing internet casino gaming. During a panel discussion with AGA’s CEO Bill Miller at IndyFest , The Nevada Independent ’s annual conference centered on political and policy issues , MGM’s CEO said: “If you look at what the opportunity could be, I look forward to just talking more about all of it. It could be significant not only for the state but for the industry and nationally, and potentially even on a global basis ”.
Hornbuckle explained that MGM Resorts expects to take in “a billion-dollars in net gaming revenue next year” through the company’s sports betting and Internet gaming platform, BetMGM , which operates online casinos in the five states where the activity is legal: New Jersey, Michigan, Pennsylvania, Delaware and West Virginia. Enjoyed speaking about the future of iGaming in Nevada at Indyfest 2021 with @BillMillerAGA , CEO of the American Gaming Association, moderated by @howardstutz and @RalstonReports . pic.twitter.com/BCV3AtmQaS — Bill Hornbuckle (@billhornbuckle) October 5, 2021 According to The Nevada Independent , Hornbuckle believes online casino expansion in Nevada is necessary due to the market saturation for traditional Las Vegas Strip brick and mortar casinos.
“The economics are upside down. This has been the capital of the gaming universe for decades, and we are losing. We are not going to see a new brick and mortar casino here for a long, long time ”, he stated.
“We’re not interested in my mother sitting on her couch in Henderson, gaming, that’s not what we’re after. We’re after a global business and we are going to miss this opportunity if we don’t quickly get on board”, Hornbuckle analyzed, and assured that there are ways to open the online business in the state without jeopardizing the local casino market .
“ There’s a way […]