Mgm Resorts Stock Price, News & Analysis

MGM Resorts International (NYSE: MGM) will participate in the Deutsche Bank Leveraged Finance Conference on September 20, 2022. CFO Jonathan Halkyard is scheduled to speak at 3:35 p.m. PDT. The session will be available via webcast on MGM's Investor Relations website. MGM Resorts is a global entertainment company, featuring hotels and casinos worldwide, and is recognized as one of FORTUNE® Magazine's World's Most Admired Companies. It operates 33 unique destinations and is pursuing expansion into Asia, particularly Japan.

AEG has promoted Sally Bae to Senior Vice President of Global Partnerships, overseeing revenue and strategic sales growth for T-Mobile Arena and MGM Grand Garden Arena in Las Vegas. Bae, who previously served as VP of Partnership Sales and Service, will manage long-term partnerships, premium inventory, and a growing sales team. Her past achievements include selling out premium seating for T-Mobile Arena in its first year. Bae’s experience includes generating over $550M in gross sales within a four-year period in Los Angeles.

On September 8, 2022, BetMGM and the Arizona Cardinals unveiled the first sportsbook at an NFL stadium, located at State Farm Stadium. This innovative 17,000-square-foot venue features a 265-square-foot video wall, 38 TVs, and over 25 betting kiosks, with capacity for 500 guests. The sportsbook will operate year-round, offering entertainment options including live music and comedy. Open to the public on September 11, 2022, the launch aims to enhance fan engagement and complement BetMGM's mobile offerings in Arizona.

BetMGM launched its new advertising campaign, "IT'S ON," featuring celebrities like Jamie Foxx and Vanessa Hudgens, aimed at engaging sports fans through a unique blend of entertainment and sports betting. The campaign will debut on national television during Thursday Night Football on September 8. This episodic series showcases various sports icons interacting in fun scenarios, promoting the BetMGM app available on multiple platforms. BetMGM emphasizes responsible gaming while expanding its reach across new markets.

On September 1, 2022, BetMGM launched its mobile sports betting app in Kansas, marking its entry into the 24th market across North America. The platform offers various betting options, including pre-game, live in-play, futures, and parlay wagers. Users can join exclusive free-to-play contests and earn rewards through BetMGM's loyalty program, redeemable at MGM Resorts locations. Emphasizing responsible gambling, BetMGM integrates GameSense for customer education. The app is available on iOS, Android, and desktop, enhancing BetMGM's footprint in the competitive online gaming sector.

BetMGM has announced a multi-year partnership with the Kansas City Chiefs, becoming one of the team's first sports betting partners as it launches in Kansas. The collaboration includes BetMGM signage at GEHA Field and promotional content across the Chiefs' digital platforms, enhancing fan engagement. Following this launch, BetMGM will operate in 24 markets. The company emphasizes responsible gaming through its GameSense program. BetMGM is a leading player in the sports betting industry, leveraging technology from Entain and offering services under various brands.

MGM Resorts International (NYSE: MGM) announced that 96% of LeoVegas AB shareholders accepted its tender offer at SEK 61.00 per share, totaling around $604 million. The settlement is expected around September 7, 2022. CEO Bill Hornbuckle views this acquisition as a key step in expanding MGM's online gaming operations globally. LeoVegas, known for its robust online casino and sports betting platform, reported EUR 394 million in revenue and EUR 46 million in Adjusted EBITDA for the year ending June 30, 2022. The deal is projected to enhance MGM's market presence and engage a new customer base.

MGM Resorts International and BetMGM are partnering with the American Gaming Association to launch Responsible Gaming Education Month in September 2022. This initiative aims to enhance consumer education, community engagement, and employee training as the gaming industry grows. Key activities include sharing responsible gaming tips on social media and participating in the AGA's public service campaign. More than 62,000 MGM employees have received GameSense training to promote responsible gaming. BetMGM has also trained 1,000 employees, marking a significant commitment to player health and community awareness.

On August 23, 2022, BetMGM expanded its partnership with SportsGrid, enhancing collaboration ahead of the football season. The multi-year agreement allows BetMGM's experts to provide insights during live broadcasts, including Ferrall Coast to Coast and Pro Football Today. Reports from MGM properties will be shared across SportsGrid's platforms, maximizing audience reach. Both companies aim to boost sports betting content and emphasize responsible gaming education. This partnership leverages SportsGrid's extensive media network, enhancing BetMGM's visibility in the sports betting market.