(Bellagio Resort & Casino, one of MGM Resorts’ premier Las Vegas properties, played a key role in the company’s record $17.2 billion revenue year. Strong convention and tradeshow bookings helped drive growth, with MGM reporting its highest Las Vegas group booking month ever in December 2024. Photo by Mark Hebert, Exhibit City News.)
Convention surge fuels optimism as MGM CEO Bill Hornbuckle predicts continued growth for Las Vegas tradeshows in 2025
by Mark Hebert, Exhibit City News
MGM Resorts International closed out 2024 with its highest full-year revenue in company history, reaching $17.2 billion, driven by record-breaking tradeshow and convention bookings. However, according to the company’s latest earnings release, fourth-quarter profits fell fifty percent year-over-year, with net income dropping to $157 million from $313 million in Q4 2023. The decline was largely due to the absence of 2023’s Formula 1-driven revenue, which created an unusually strong comparison period.
Despite the Q4 dip, CEO and President Bill Hornbuckle remains confident in the company’s outlook, citing unprecedented demand for tradeshows, meetings, and corporate events.
“December was our highest convention booking month on record,” Hornbuckle said in the release. “We’re encouraged by the strong demand we’re seeing in 2025, which positions us well for continued growth.”
Las Vegas Tradeshow Business Booming
MGM’s Las Vegas Strip properties generated $8.8 billion in revenue in 2024, holding steady from the previous year. While casino and hotel revenue softened in Q4, the tradeshow and convention business surged. Hornbuckle emphasized that meetings and tradeshows were a key driver of MGM’s strong annual performance, particularly in the fourth quarter.
In January, MGM Resorts saw continued revenue growth across its Strip properties and regional operations, with forward bookings pointing to sustained momentum.
“The demand for large-scale meetings and events in Las Vegas has never been stronger,” Hornbuckle noted. “We’re seeing strong future bookings that reinforce our confidence in the market.”
Why This Matters for Tradeshow Organizers and Exhibitors
The surge in convention bookings is good news for exhibitors, meeting planners, and attendees. As one of the largest convention venue operators in Las Vegas, MGM Resorts hosts major industry tradeshows and corporate events across properties like Mandalay Bay Convention Center, Bellagio, MGM Grand, and Aria.
- More bookings mean higher foot traffic for exhibitors.
- Increased demand could drive higher room rates and exhibit space pricing.
- A strong tradeshow market supports broader economic growth in Las Vegas.
With Las Vegas reclaiming its pre-pandemic dominance in the meetings and tradeshow industry, MGM’s numbers suggest that event professionals should prepare for higher attendance, increased networking opportunities, and growing exhibitor interest in the city.
Looking Ahead: What’s Next for MGM and the Tradeshow Industry?
Hornbuckle’s comments indicate that 2025 could be another strong year for MGM Resorts, particularly in the tradeshow and convention space. If demand remains high, Las Vegas may see continued growth in large-scale events, with MGM at the center of the action.
For exhibitors and planners, MGM’s record convention bookings reflect strong tradeshow momentum in Las Vegas, with demand expected to continue into 2025.
