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MGM Resorts International (MGM) Stock News, Aug-Sep 2020

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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.

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BetMGM has partnered with the Las Vegas Raiders as the team's first official sports betting partner, enhancing MGM Resorts' existing multi-year sponsorship. This partnership aims to engage Raiders fans through educational initiatives about the BetMGM app, which is accessible via MGM Resorts Sports Book locations in Las Vegas. The collaboration also includes sponsorship of the Raiders' inaugural regular season game at Allegiant Stadium. MGM Resorts emphasizes responsible gaming through the GameSense program and continues to expand its footprint in the sports betting market.

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On September 17, 2020, BetMGM became the Official Sports Betting Partner of the Las Vegas Raiders, expanding its existing partnership with MGM Resorts. The collaboration aims to enhance engagement with Raiders fans and promote the BetMGM app, now available for registration in Nevada through MGM Resorts Sports Books. BetMGM's CEO expressed excitement about the partnership, emphasizing a commitment to responsible gaming. Additionally, the Raiders and MGM Resorts are collaborating on community outreach initiatives in Southern Nevada, with MGM providing substantial branding at Allegiant Stadium, set to generate significant economic benefits.

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MGM Resorts International and BetMGM are partnering with the American Gaming Association for Responsible Gaming Education Week from September 14-19. BetMGM announced the hiring of Richard Taylor as Responsible Gambling Program Manager to enhance their responsible gaming platform. Taylor will focus on promoting healthier gambling habits and developing internal training for employees. MGM Resorts aims to educate guests on responsible gaming through their GameSense program, emphasizing proactive communication about gambling. The partnership showcases MGM's commitment to responsible gaming practices.

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MGM Resorts International (NYSE: MGM) and BetMGM have partnered with the American Gaming Association to support Responsible Gaming Education Week, from September 14 to 19. BetMGM has appointed Richard Taylor as Responsible Gambling Program Manager, tasked with enhancing the company's responsible gaming platform and employee training. The focus is on promoting healthy gambling practices through programs like GameSense, which offers proactive education on responsible gaming. MGM Resorts emphasizes commitment to responsible gaming across its casinos and mobile apps, ensuring a safer experience for customers.

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MGM Resorts International (NYSE: MGM) will reopen Park MGM and NoMad Las Vegas on September 30, completing the recovery of all its properties after the Covid-19 closures. This marks Park MGM as the first fully smoke-free casino resort on The Strip. CEO Bill Hornbuckle expressed pride in the team’s effort during challenging times. While initial amenities will be limited, popular dining options will be available. The Four Seasons Las Vegas will also reopen on September 25. MGM's comprehensive safety measures include employee screenings and physical distancing protocols.

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The Detroit Lions announced BetMGM as their first Official Sports Betting Partner, enhancing fan engagement through initiatives like Lions Bingo and Lions Perks. This partnership marks a significant extension of the existing collaboration with MGM Resorts. Through Lions Bingo, fans can win cash prizes and trips by predicting game scenarios. The partnership also promotes responsible gambling via the GameSense program. BetMGM aims to create unique fan experiences, especially as sports betting expands in Michigan.

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The Detroit Lions have announced BetMGM as their first Official Sports Betting Partner, enhancing their multi-year partnership with MGM Resorts. The collaboration includes fan-focused assets like Lions Bingo and Lions Perks, along with digital marketing and in-stadium promotions. BetMGM will offer new cash prizes and trips via Lions Bingo, which allows fans to predict game plays. This partnership aims to engage fans during the football season, with a focus on responsible gambling through programs like GameSense.

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BetMGM, a joint venture between MGM Resorts and GVC Holdings, has launched BetMGM Casino in West Virginia, featuring the widest range of online casino games in the state. The platform offers 30 games, including unique progressive jackpot slots, integrated within the existing BetMGM Sports mobile app. CEO Adam Greenblatt emphasized its competitive edge in delivering a comprehensive gaming experience. BetMGM Casino is already operational in New Jersey and plans to expand to Pennsylvania and Michigan pending regulatory approvals.

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BetMGM has officially launched the BetMGM Casino in West Virginia, featuring 30 online casino games, including exclusive progressive jackpot-linked games. The casino is integrated into the BetMGM Sports mobile app, enhancing their existing sports betting platform. BetMGM CEO Adam Greenblatt emphasized the importance of this launch as a differentiator in the online gaming market. The platform is also accessible via desktop and plans to expand into Pennsylvania and Michigan pending regulatory approvals. This expansion represents another step in BetMGM's growth strategy in the U.S. gaming market.

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FAQ

What is the current stock price of MGM Resorts International (MGM)?

MGM Resorts International (MGM) last closed at $29.96.

What is the market cap of MGM Resorts International (MGM)?

The market cap of MGM Resorts International (MGM) is approximately $7.6B.