MGM Resorts International · NYSE:MGM
MGM Resorts International — Investor Presentation (October 2018)
28 slides from MGM Resorts International's investor presentation, October 2018
Slide 1: New York State October 2018 Gaming Survey Results
New York State October 2018 Gaming Survey Results 1
Slide 2: Lay of the Land
Lay of the Land
Slide 3: Methodology
Methodology Voters Margin of error Global Strategy Group conducted a survey of The margin of error of the statewide sample at 1,346 registered voters in New York State the 95% confidence level is +/- 3.9%. between October 29 and November 11, 2018. The margin of error on sub-samples is greater. This
Slide 4: Methodology: Queens regions definitions
Methodology Queens regions definitions • Northwest Queens consists of assembly districts: 28, 30, 34, 35, 36, 37, 39; • Northeast Queens consists of assembly districts: 25, 26, 27, 40; • Southwest Queens consists of assembly districts: 23, 31, 32, 38; • Southeast Queens consists of assembly district
Slide 5: Gaming industry in New York State is not fully defined
The gaming industry in New York State is not fully defined, as voters have mixed feelings about the industry writ large and aren’t highly familiar with MGM, Genting or other existing casinos Personal popularity of public figures and groups Favorable Don’t Know Unfavorable Andrew Cuomo 49 10 41 The c
Slide 6: Voters unconvinced casinos have been good for the state
Voters aren’t convinced that casinos have been good for the state so far, but believe NYC would be a good location for one to be successful Do you agree or disagree with the following statement? Agree Don’t Know Disagree New York City would be a good location for a casino to be successful 62 5 33 [U
Slide 7: Voters prefer converting existing NYC area casinos
Voters throughout the state prefer the idea of converting existing NYC area casinos over building new ones Do you agree or disagree with the following statement? If New York State is going to allow full-scale casinos in the New York City area, I'd prefer that they convert existing casinos into full-
Slide 8: Voters inclined to maintain racetrack casino subsidy laws
Voters are inclined to maintain existing laws requiring casinos near racetracks to help subsidize the horse racing industry Approval for NYS law requiring horse racing industry subsidy Approve Don’t Know Disapprove Total 55 15 30 Upstate 61 14 25 Suburbs 51 19 30 NYC 53 13 34 Long Island 48 19 33 Qu
Slide 9: New Yorkers approve current sports betting laws
New Yorkers approve of the state’s current sports betting laws, and are generally opposed to expanding sports betting in the state Approval for NYS law allowing sports betting inside casinos Approve Don’t Know Dissapprove Total 66 9 25 Queens 65 8 27 Yonkers 78 6 16 Support for allowing online sport
Slide 10: Casino Gaming Proposals
Casino Gaming Proposals
Slide 11: Registered voters split on a new NYC area casino
Registered voters are split on the idea of allowing a new casino in the NYC area; greater opposition in suburbs and among conservative elements of electorate Support for new casino in the New York City area that would be located either in one of the five boroughs, Long Island or Westchester County S
Slide 12: Long Island voters tilt narrowly in favor of new casino
Long Island voters tilt narrowly in favor of allowing a new casino in their area, but intensity is on the side of the idea’s opponents [Long Island only] Support for a new casino on Long Island, in either Nassau County or Suffolk County Support Don’t Know Oppose Long Island Total 50 24% strongly sup
Slide 13: Slim majority support converting Empire City and RWNY
A slim majority support converting Empire City and RWNY into full-scale casinos, and the proposal plays well in both Queens and Yonkers Support for converting Empire City and Resorts World New York to full-scale casinos Support Don’t Know Oppose Total 52 9 39 Upstate 52 10 38 Suburbs 54 9 37 NYC 51
Slide 14: Conversion support consistent across demographic lines
Support for conversion proposal is generally consistent across demographic lines, with no constituency clearly opposed to the idea Support for converting Empire City and Resorts World New York to full-scale casinos Support Don’t Know Oppose Total 52 9 39 Democrats 54 10 36 Independents 54 8 38 Repub
Slide 15: Strong support for conversion in Yonkers
There is strong support across the board for the conversion proposal in Yonkers YONKERS ONLY - Support for converting Empire City and Resorts World New York to full-scale casinos Support Don’t Know Oppose Yonkers Total 65 8 27 Democrats 72 5 23 Independents 61 12 27 Republicans 53 11 36 White 69 7 2
Slide 16: Softer support for conversion in Queens
Softer support for the conversion proposal in Queens is driven by Democrats, women and older voters QUEENS ONLY - Support for converting Empire City and Resorts World New York to full-scale casinos Support Don’t Know Oppose Queens Total 53 12 35 Southwest Queens 65 7 28 Southeast Queens 48 5 47 Nort
Slide 17: Reasons for support and opposition to conversion
Voters like building on the existing gaming footprint and the new jobs it will bring; opposition is driven by perceived ills the expanded facility could bring – traffic, crime, and addiction Reasons for support and opposition to converting Empire City and Resorts World New York to full-scale casinos
Slide 18: Targets & Messaging
Targets & Messaging
Slide 19: Positive messaging increases support across the state
Positive messaging behind casino conversion is effective at increasing support across the state Change in support for proposal to convert Empire City and RWNY Net Support Post- Initial Change messages Total +13 +37 +24 Upstate +14 +35 +21 Suburbs +17 +32 +15 NYC +11 +41 +30 Long Island +17 +35 +18 Q
Slide 20: Most persuadable voters on the conversion proposal
Older voters, voters of color, and residents of the NYC suburbs are most persuadable on the conversion proposal Targets - Statewide 46 31 23 Base Swing Oppo Always supports conversion plan Sometimes supports conversion plan or always undecided Always opposes conversion plan Liberal Democrats (52% ar
Slide 21: Mobilization and persuasion targets in Queens
Our mobilization targets in Queens skew blue collar and liberal; persuasion targets tend to be more conservative than swing voters statewide Persuasion and Base Targets – Queens Queens – 31% are swing voters Queens – 49% are base voters Better educated & less liberal men: Blue collar men, liberals,
Slide 22: Mobilization and persuasion targets in Yonkers
Blue collar men and liberals are also key mobilization targets in Yonkers, while persuasion targets are older and more conservative Persuasion and Base Targets – Yonkers Yonkers – 25% are swing voters Yonkers – 60% are base voters Older & more conservative: Blue collar men, liberals, and • 55 and ov
Slide 23: Job creation and license fee messages resonate
Our messages on job creation and license fees are broadly resonant, and the age minimum argument is also effective with persuadable voters More effective positive messages for conversion proposal Swing Overall Total Queens Yonkers Long Island % very convincing [JOBS] This plan will create thousands
Slide 24: Less effective positive messages for conversion
Economic development beyond the immediate jobs created and preventing a new casino are less persuasive; MGM & Genting’s low profiles show there is no clear benefit to include them in messages Less effective positive messages for conversion proposal Swing Overall Total Queens Yonkers Long Island % ve
Slide 25: Conclusion and Recommendations
Conclusion and Recommendations
Slide 26: Conclusions & Recommendations
Conclusions & Recommendations Voters believe that New York City is a good location for a casino to succeed, but have mixed feelings about whether or not having a new casino there is a good idea. However, they are clearly amenable to converting the existing casino sites into full-scale casinos. ▪ Cas
Slide 27: Conclusions & Recommendations
Conclusions & Recommendations Job creation and new state revenue for public education are the best messages for a conversion plan. ▪ This simple, clear economic rationale works well across key audiences – including voters in Queens and Yonkers and persuadable voters statewide who can be sold on the
Slide 28: Thank You
Thank You New York Washington, DC Hartford Chicago Denver Seattle 215 Park Ave South 1001 G Street NW 185 Asylum St 222 W. Ontario St. 1120 Lincoln Street 2608 2nd Ave 15th Floor 6th Floor East 16th Floor Suite 600 Suite 905 #293 New York, NY 10003 Washington, DC 20001 Hartford, CT 06103 Chicago, IL
MGM Resorts International — Investor Presentation (October 2018) on 6ix