Mgm Resorts Stock Price, News & Analysis

BetMGM has announced exclusive partnerships with the Las Vegas Aces and the WNBA through the 2027 season, marking its first major collaboration with a women's professional sports franchise. The partnership includes prominent signage at Michelob ULTRA Arena, VIP experiences, and BetMGM becoming an authorized gaming partner of the WNBA.

Key highlights include the launch of the first-ever WNBA-branded online slot game and the "BetMGM Steals for Meals" program, which will donate $50 to The Just One Project for every Aces home steal. BetMGM reported significant growth in WNBA betting, with a 133% year-over-year increase during the 2024 season. The company will offer expanded betting options, including player props and Commissioner's Cup odds.

Century Casinos (CNTY) has announced a significant partnership with BetMGM to introduce sports betting in Missouri through its Century Casino & Hotel Cape Girardeau subsidiary. The long-term agreement enables BetMGM to operate both online and mobile sports betting platforms under Century's license. The deal includes revenue sharing with a guaranteed minimum for Century and potential retail sportsbook options at Century's discretion. The partnership's implementation is subject to obtaining necessary gaming licenses and regulatory approvals.

MGM Resorts International (NYSE: MGM) has appointed Ryan Abboushi as its new President of Entertainment, effective June 16. Abboushi, a veteran talent agent with 16 years of experience at Creative Arts Agency (CAA), will lead MGM's entertainment programming and operations strategy. In his role, he will oversee venue utilization, show bookings, talent management, and partner relationships.

Prior to his 16-year tenure at CAA, where he packaged and sold numerous films, television shows, and specials, Abboushi worked at William Morris Agency. The USC graduate will be tasked with building scalable, branded entertainment experiences across MGM Resorts' destinations, aiming to strengthen the company's position as a world-class leader in live entertainment and immersive experiences.

MGM Resorts International (NYSE: MGM) has extended CEO & President Bill Hornbuckle's employment agreement through December 31, 2028. The new contract includes a subsequent advisory role focused on the Osaka, Japan integrated resort project. Under Hornbuckle's leadership, MGM has successfully navigated the COVID-19 pandemic while expanding through digital ventures, strategic M&A, and international market entry.

As CEO, Hornbuckle manages MGM's overall strategy, operations, and development projects, including digital gaming initiatives. He serves on MGM Resorts' Board of Directors, co-chairs MGM China Holdings' Board, and chairs the U.S. Travel Association. The company is currently pursuing expansion opportunities in New York, Japan, Brazil, and the Middle East.

MGM Resorts reported mixed Q1 2025 financial results with consolidated net revenues of $4.3 billion, down 2% year-over-year. The company achieved record Las Vegas Strip occupancy and slot win, with slot revenue up 7%. Net income was $149 million ($0.51 per share), compared to $217 million ($0.67 per share) in Q1 2024.

Key highlights include:

• BetMGM venture turned EBITDA positive
• Las Vegas Strip revenue decreased 3% to $2.2 billion
• Regional Operations revenue declined 1% to $900 million
• MGM China revenue dropped 3% to $1.0 billion
• MGM Rewards program reached 50 million members

The company repurchased 15 million shares for $494 million in Q1, reducing shares outstanding by 43% since 2021. The Board authorized a new $2 billion share repurchase program. Forward bookings remain solid, with April projected to be a record hotel month for Las Vegas Strip operations.

BetMGM reported strong Q1 2025 performance with total Net Revenue of $657 million, up 34% year-over-year. The company achieved significant growth across both iGaming (+27% to $443M) and Online Sports (+68% to $194M).

Key highlights include:

• First quarter EBITDA of $22 million, marking a $154M improvement YoY
• Handle increased 29% YoY to $4.1 billion
• Average Monthly Actives grew 6% YoY to 1.07 million users
• NGR margin improved by 110 basis points YoY

The company maintains market leadership in iGaming with 22% market share and holds an 8% share in Online Sports. BetMGM reaffirmed its FY 2025 guidance of $2.4-2.5 billion in Net Revenue and expects to achieve positive EBITDA for the full year.

BetMGM, the joint venture between MGM Resorts International (NYSE: MGM) and Entain plc (LSE: ENT), has scheduled its Q1 2025 business update for Monday, April 28, 2025. The company will release the update covering January 1 - March 31, 2025, at 7:00 AM ET.

A conference call with Q&A session will follow at 9:00 AM ET, with access details to be provided on MGM Resorts' investor website. The announcement comes ahead of both parent companies' quarterly results, with Entain reporting on April 29 and MGM Resorts following on April 30, 2025.

MGM Resorts International (NYSE: MGM) has announced the return of the Bellagio Fountain Club for the FORMULA 1 HEINEKEN LAS VEGAS GRAND PRIX 2025, scheduled for November 20-22. Following two consecutive sellouts, the premium race-watching experience now offers tickets starting at $7,750 for a three-night package.

The exclusive venue features prime views of the track's longest straightaway and the iconic Bellagio Fountains, along with the Las Vegas Grand Prix Winner's Stage. The experience includes private indoor and rooftop hospitality decks, racing simulators, and nightlife activations. A key highlight is the culinary program featuring rotating world-renowned chefs preparing signature dishes throughout the race weekend.

Past participating chefs have included José Andrés, Mario Carbone, David Chang, Masaharu Morimoto, and Jean-Georges Vongerichten. The 2025 culinary lineup will be announced in the coming months.