Welcome to our dedicated page for Mgm Resorts news (Ticker: MGM), a resource for investors and traders seeking the latest updates and insights on Mgm Resorts stock.
MGM Resorts International (MGM) is a global leader in gaming, hospitality, and entertainment, operating iconic destinations like Bellagio and MGM Grand. This page provides investors and industry professionals with a centralized source for official announcements, financial updates, and strategic developments.
Access real-time press releases covering earnings reports, property expansions, leadership changes, and partnerships. Stay informed about regulatory developments, sustainability initiatives, and innovations like BetMGM’s digital gaming platform. Our curated feed ensures you never miss critical updates affecting market performance.
Key content includes quarterly financial disclosures, merger/acquisition alerts, and operational milestones across MGM’s global resorts. Bookmark this page for streamlined tracking of corporate governance changes, dividend announcements, and consumer trend adaptations in the evolving leisure sector.
MGM Resorts (NYSE: MGM) has submitted a commercial casino license application to transform its Empire City Casino in Yonkers, New York, with a $2.3 billion investment plan. The proposal includes renovating gaming areas, adding a BetMGM Sportsbook, and constructing a 5,000-capacity entertainment venue.
The development, targeted for completion by mid-2029, features three new restaurants, a parking garage with solar arrays, and EV charging stations. Since 2006, Empire City Casino has generated over $5 billion for New York State education, with $1.6 billion contributed since MGM's 2019 acquisition. If approved, the project will create thousands of jobs and distribute 20% of tax revenue among local governments.
MGM Resorts International (NYSE: MGM) has scheduled its second quarter 2025 financial results release for Wednesday, July 30, 2025, after market close. The company will host a conference call at 5:00 p.m. Eastern Time to discuss the results and conduct a Q&A session.
Investors can access the call via the company's website or by phone, with supplemental slides to be posted on MGM's Investor Relations website. A replay will be available through August 6, 2025. MGM Resorts operates 31 hotel and gaming destinations globally, with ventures in sports betting and online gaming through BetMGM and is pursuing expansion in Asia.
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.