# MGM Resorts International **MGM Resorts International** is the Las Vegas casino company and the other 50% owner of [[BetMGM]], alongside the British group [[Entain]]. Its CEO is one of the most outspoken casino-industry critics of prediction markets. Its reasoning is simple: its Nevada gaming licenses are worth more than any event-contract business. ## The business MGM reported **$17.5 billion** in net revenue for 2025, up 2%. Its Las Vegas properties brought in **$8.4 billion**, down 4%, partly because renovations kept hundreds of MGM Grand rooms offline. **Bill Hornbuckle** has been president and CEO since 2020, and in 2025 his contract was extended through the end of 2028. ## Against prediction markets - **September 4, 2025** (Bank of America gaming conference). Hornbuckle said prediction markets invite "the federal government into a space it's never been." MGM did not want the market going that way, "full stop," but would watch closely: "We'd be foolish not to." - **September 29, 2026** (Global Gaming Expo, Las Vegas, on a panel with Wynn Resorts CEO Craig Billings). Hornbuckle said MGM had considered entering prediction markets in early 2025 but backed away after Nevada regulators warned "it's going to impact your licensing." On the platforms: "The age is 18. No taxes, no jobs, and the cavalier approach by these guys [hurts] the industry." Of operators willing to follow Nevada's rules: "god bless 'em." Hornbuckle's 18-versus-21 point is central to the casino argument: a 19-year-old who cannot legally walk onto MGM's casino floor can trade sports contracts on a CFTC-registered exchange. ## Why it matters - **The license is the leash.** Nevada's threat to MGM's gaming licenses kept it out of a business that its online partners [[DraftKings]] and [[FanDuel]] entered. State licensing power is the tool the [[American Gaming Association]] side is counting on, and it is what the platforms' preemption argument would weaken (see [[KalshiEX v. Flaherty]]). - **A split house.** MGM stays in the AGA, which opposes prediction markets. Its sportsbook joint venture is a member of the [[Sports Betting Alliance]], whose other members fund the [[Win for America]] super PAC and run event-contract products. ## See also - [[BetMGM]] · [[Entain]] · [[Adam Greenblatt]] - [[American Gaming Association]] · [[Sports Betting Alliance]] - [[Sports Betting]] · [[Prediction Markets]] · [[Prediction Markets and Gambling Sector]]