Welcome to our dedicated page for MGM RESORTS INTERNATIONAL news (Ticker: MGM), a resource for investors and traders seeking the latest updates and insights on MGM RESORTS INTERNATIONAL stock.
MGM Resorts International reports developments across its integrated resort, casino, digital gaming, and hospitality operations. Recurring updates cover Las Vegas Strip Resorts, Regional Operations, MGM China in Macau, MGM Digital, and the BetMGM North America venture for sports betting and iGaming. News also includes quarterly operating results, guest-experience investments at MGM MACAU and MGM COTAI, brand partnerships, and capital-allocation actions.
Company announcements also document portfolio changes such as the completed sale of MGM Northfield Park operations and related lease amendments tied to the company’s regional casino footprint.
BetMGM, the sports betting joint venture between MGM Resorts and GVC Holdings, announced the appointment of Ryan Spoon as Chief Operating Officer.
Previously at ESPN, Spoon is tasked with leveraging BetMGM's league and team partnerships for growth. BetMGM's platform offers a user-friendly sports betting experience and aims for rapid expansion in the U.S. The company collaborates with major sports leagues and teams, including the NBA and NFL, and operates in six states.
MGM Resorts International (NYSE: MGM) received the Gold award for Corporate and Business Volunteer Program of the Year at the 2020 Nevada Governor's Points of Light Awards. This prestigious event recognizes exceptional volunteer efforts across Nevada. MGM aims to donate 5 million meals via its Feeding Forward program by 2025 and exceed 1 million community volunteer hours. Amid the pandemic, the company emphasizes its commitment to community support and service. This recognition aligns with MGM's broader commitment to sustainability and positive social impact.
MGM Resorts Foundation has received the SportsTravel Award for its Employee Emergency Grant Fund (EEG) program, which has raised over $14 million to aid employees and their families during the COVID-19 pandemic. The fund has facilitated more than 9,000 bill payments for qualified expenses. Additionally, MGM Resorts contributed food and PPE to local communities, providing nearly 500,000 meals to those in need. This recognition highlights the Foundation's commitment to support during challenging times.
Din Tai Fung has opened its first location in Las Vegas at ARIA Resort & Casino, expanding its global reach from Taipei to Los Angeles. Known for its Xiao Long Bao, the restaurant aims to deliver the same culinary experience as its original establishment founded in 1972. The venue features a lively show kitchen capable of producing 10,000 dumplings daily. This expansion celebrates Din Tai Fung's 20th anniversary in the U.S., marking its significant growth with locations worldwide, now totaling over 170.
MGM Resorts International (NYSE: MGM) will announce its third quarter 2020 financial results on October 29, 2020, after market close. A conference call is scheduled for 5:00 p.m. ET that same day, featuring discussions on the results followed by a Q&A session. Investors can access supplemental slides on the Investor Relations website. Callers can join via phone or online. A replay will be available until November 5. MGM Resorts is a leading global entertainment company with a focus on immersive experiences through its various properties.
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Borgata Hotel Casino & Spa, an MGM Resorts property, will reopen its Poker Room on October 21, 2020. The reopening follows earlier closures due to the COVID-19 crisis and will feature 30 socially distanced tables. Enhanced safety measures, including mandatory masks, polycarbonate barriers, and health screenings, are implemented to ensure guest safety. The Bad Beat Jackpot will commence with a prize of $100,000. Borgata aims to restore its status as a leading gaming destination on the East Coast.
MGM Resorts International (NYSE: MGM) announced the completion of a $750 million issuance of senior notes at a rate of 4.750% due in 2028. The proceeds will be utilized for general corporate purposes, including potentially refinancing existing debt. CFO Corey Sanders emphasized that this move enhances the company's financial flexibility and illustrates investor confidence in MGM's long-term outlook.
On October 13, 2020, BetMGM announced the launch of its new Parlay Builder, a same-game-parlay product powered by Betgenius, enhancing betting options for U.S. sports. This product allows users to customize bets across major leagues, including NFL, NBA, and soccer, with MLB and NHL to follow. BetMGM aims to offer over 400 bet types within the same game, catering to both serious and recreational bettors. The Parlay Builder is expected to replicate the success of BetBuilder in Europe, providing BetMGM with a significant competitive advantage.
BetMGM has announced the launch of Parlay Builder, a new same-game-parlay product tailored for U.S. sports. This innovative feature offers players extensive betting options across major leagues, including more than 400 bet-types. The product is powered by BetBuilder, developed in collaboration with Betgenius and Sportcast, enhancing user experience and engagement for both serious and casual bettors. BetMGM aims to replicate the success of BetBuilder seen in Europe, positioning itself as a leader in the U.S. sports betting market.