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 (NYSE: MGM) is an S&P 500 global gaming and entertainment company whose news flow spans casino operations, hospitality, digital gaming and corporate finance. News releases from MGM Resorts and its affiliates highlight developments across its portfolio of 31 hotel and gaming destinations, as well as its sports betting and online gaming ventures.
Investors and followers of MGM news can expect regular updates on financing and capital markets activity, such as public offerings of senior notes and new secured credit agreements disclosed via press releases and 8-K filings. These items provide insight into how the company manages its balance sheet, refinances existing indebtedness and funds long-term projects, including international initiatives.
MGM Resorts news also covers corporate governance and leadership, including executive employment agreements, amendments, and transitions for senior officers. Such announcements, often filed on Form 8-K, outline compensation structures, equity incentives, and changes in responsibilities for key executives involved in finance, operations and digital strategy.
From an operational standpoint, MGM-related news features property and brand developments, including rebranding of hotel concepts, new restaurant openings at resorts like ARIA, and branding agreements with MGM China. These stories illustrate how the company refreshes its offerings on the Las Vegas Strip and other locations, and how it leverages the MGM brand in international markets.
Another recurring theme is responsible gaming and digital wagering. Releases describe milestones in the GameSense responsible gaming program, BetMGM’s responsible gambling campaigns, and partnerships that extend BetMGM-branded retail and online sportsbooks through agreements with other casino operators. Together, these updates provide a view into MGM Resorts’ approach to combining entertainment, gaming and player protection.
For those tracking MGM (MGM) news, this page aggregates company press releases, affiliate announcements and regulatory disclosures, offering a centralized view of developments affecting its resorts, digital platforms and capital structure.
Genius Sports (NYSE:GENI) has expanded its partnership with Entain and BetMGM to deliver a comprehensive NFL offering, including data feeds and sportsbook content. This 10-year collaboration enhances BetMGM's sportsbook operations across 16 U.S. markets. The agreement allows Entain and BetMGM to access official NFL data, optimizing customer engagement and betting experiences. CEO Mark Locke emphasized the significance of this partnership, which also includes exclusive advertising on NFL digital platforms.
MGM Resorts International has finalized the acquisition of Infinity World Development Corp's 50% stake in CityCenter Holdings for $2.125 billion. Additionally, the company completed a sale-leaseback transaction with Blackstone for the real estate assets of Aria and Vdara valued at $3.89 billion. Following these deals, MGM has eliminated CityCenter's total debt of $1.73 billion, while maintaining operational management of the properties. As of June 30, 2021, CityCenter had $307 million in cash reserves.
MGM Resorts International (NYSE: MGM) announced that it has been selected as the integrated resort partner for Osaka, in collaboration with joint-venture partner ORIX. This selection marks a significant milestone in MGM's pursuit to develop one of Japan's first integrated resorts, with an initial investment of approximately $10 billion. The project aims to attract around 20 million annual visitors and generate 15,000 jobs. The next step involves submitting an Area Development Plan to Japan's government by April 2022, with potential licensing in 2022.
MGM Resorts International has announced a definitive agreement to acquire The Cosmopolitan of Las Vegas from Blackstone for $1.625 billion. This transaction, representing an approximate eight times adjusted EBITDA, includes operational synergies and revenue growth potential. MGM will enter a 30-year lease for the property while maintaining a strong financial commitment of an initial annual rent of $200 million. The Cosmopolitan generated $234 million in net revenue during Q2 2021 and has seen over $500 million in capital improvements since 2014.
BetMGM, a top sports betting and digital gaming company, has signed MMA journalist Ariel Helwani as a brand ambassador. Helwani will incorporate BetMGM into his promotional content and participate in marketing campaigns and fan events. His influence in the MMA community aligns with BetMGM's expansion in sports betting across various states. The company continues to prioritize responsible gaming education while growing its market presence. BetMGM, a collaboration between MGM Resorts and Entain, offers innovative gaming solutions and maintains a focus on customer responsibility.
MGM Resorts and BetMGM have partnered with the American Gaming Association (AGA) for the 'Have A Game Plan' initiative, which encourages responsible sports wagering. This collaboration coincides with the AGA's Responsible Gaming Education Week. The companies will utilize social media and their platforms to disseminate responsible gaming tips year-round. Richard Taylor, BetMGM's Responsible Gambling Program Manager, highlighted their commitment through GameSense, an industry-leading program to promote safe gambling practices. This initiative underscores MGM Resorts and BetMGM's dedication to responsible gaming education as they expand their sports betting operations.
MGM Resorts International is aware of DraftKings' potential offer for Entain plc. As Entain's exclusive U.S. online sports betting partner via BetMGM, MGM asserts that any competing business ownership by Entain will require its consent. MGM emphasizes the importance of maintaining control over BetMGM to capture growth in the U.S. online market. The company intends to engage with both Entain and DraftKings to address exclusivity arrangements. PJT Partners is advising MGM in this matter.
Everi Digital, the online gaming division of Everi Holdings, has partnered with BetMGM to introduce the custom-themed game Borgata 777 Respin. This title is accessible via BetMGM Casino and Borgata Casino in New Jersey and Pennsylvania. It features a re-spin bonus and various multipliers, enhancing player engagement. David Lucchese, Everi's EVP, emphasized the collaboration's aim to deliver vibrant gaming experiences. This marks Everi's first partnership game with BetMGM, adding to their digital content portfolio.
MGM Resorts International (NYSE: MGM) will participate in the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum on September 13, 2021. CEO Bill Hornbuckle is set to speak at 11:15 a.m. Eastern Time. Investors can access a live webcast of the session on the MGM Investor Relations website. MGM Resorts is recognized as an S&P 500 global entertainment company, known for its luxury hotels, casinos, and entertainment venues. The company is also actively expanding in Asia, particularly in Japan, through integrated resort opportunities.
BetMGM has launched its digital sports betting platform in Arizona, marking the 15th market for its mobile and online offerings. With strategic partnerships with Gila River Hotels & Casinos and the Arizona Cardinals, BetMGM aims to enhance the betting experience for Arizona customers. Upcoming BetMGM Sportsbooks will be established in Gila River's locations and State Farm Stadium. The user-friendly BetMGM app allows for customizable wagers and integrates with MGM Resorts' M life Rewards program. BetMGM emphasizes its commitment to responsible gaming as it expands its services.
FAQ
What is the current stock price of Mgm Resorts (MGM)?
What is the market cap of Mgm Resorts (MGM)?
