MGM Resorts International said it had agreed a new employment contract with chief executive and president Bill Hornbuckle through the end of 2028. The company also agreed to offer him an advisory role after the contract ends, supporting its Osaka integrated resort project until opening.
The contract maintains MGM’s CEO leadership through 2028 and provides for later support of its Osaka project.
Quarter ended 30 September 2026
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Orix views Japan’s MGM Osaka casino resort as an investment supported by sustained demand and potential recurring cash generation. The JPY1.51tn development targets a late-2030 opening. MGM Resorts, which owns 43.5% of the development consortium, said on 29 July that the project remained within its schedule and budget.
MGM reported consolidated revenue of $4.5bn for the three months ended 30 June 2026, up 1% year on year. MGM Digital revenue rose 20% to $196m, while the division’s adjusted EBITDAR loss widened to $31m; CEO Bill Hornbuckle also said the MGM Osaka project remained on schedule to open in 2030.
MGM Resorts International said it was continuing to assess an all-cash takeover proposal from People Incorporated while reporting second-quarter results. The offer values MGM at about $18 billion and proposes $48.30 per share; People owns 26.1% of MGM’s outstanding common stock. MGM reported revenue of $4.5 billion, up 1% year on year, and net profit attributable to the company of $292.4 million.
Boa Lion, the Brazilian joint venture between MGM Resorts International and Grupo Globo, agreed to acquire all of video bingo developer Bingão do Brasil, according to a report citing a CADE notice published on 9 June. The transaction price was not disclosed, and completion depends on approval by Brazil’s competition authority; Bingão do Brasil has not begun commercial operations.
MGM Resorts said construction of its integrated resort on Yumeshima Island in Osaka is progressing, with more than 40% of foundation piles installed or completed. The company expects the approximately $10bn project, developed with Orix Corporation, to open in 2030; MGM said it invested $140m in the first quarter and expects Japan funding of $200m-$225m this year.