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Tag Archives: MGM Resorts

US – Empire City Casino by MGM Resorts celebrates 15th anniversary

Empire City Casino by MGM Resorts continues to be an economic jackpot for the state and region 15 years after the video lottery terminal casino came online. The northeast’s premier entertainment destination was acquired by MGM Resorts in January 2019 and boasts the sixth largest gaming floor in the country, representing the largest in the MGM…

US – MGM hints at BetMGM takeover if Draftkings buys Entain

MGM Resorts CEO Bill Hornbuckle has suggested it will go for a majority takeover of BetMGM, which it currently co-owns with Entain, if DraftKings completes its buy-out of Entain. DraftKings recently made a $22.4bn offer for Entain. MGM has previously said any deal ‘whereby Entain or its affiliates would own a competing business in the…

US – MGM National Harbor’s sports book to be ‘archetype’ for future MGM sports books

MGM Resorts International has unveiled the first renderings of its new sportsbook at MGM National Harbor Hotel & Casino near Washington D.C. for when sports betting is allowed. The brand new BetMGM Sportsbook & Lounge has capacity for 350 people and is virtually complete, according to Washington Business Journal. It features a 110 foot-long wraparound…

Japan – Preferred operator status now official for MGM in Osaka

The foregone conclusion that MGM Resorts and partner ORIX Corp are the preferred developers to build an Integrated Resort casino on the artificial island of Yumeshima in Osaka Bay has been made official by Osaka Prefecture and Osaka City. The consortium was the only option left for Osaka following the withdrawals of Genting Singapore, Galaxy…

US – MGM buys Cosmopolitan operational rights from Blackstone for $1.625bn

MGM Resorts is buying the operations of The Cosmopolitan of Las Vegas from Blackstone for $1.625bn, subject to customary working capital adjustments. The purchase price represents a multiple of approximately eight times adjusted EBITDA, inclusive of expected operational synergies and identified revenue growth opportunities. Following the close of the transaction, MGM Resorts will enter into…

US – BetMGM debuts Mirage Mega Magma slot game

BetMGM has unveiled Mirage Mega Magma, a new, exclusive slot game leveraging MGM Resort’s luxury casino brand. Developed by Entain’s in-house studio in conjunction with MGM Resorts International and BetMGM, Mirage Mega Magma sets fire to traditional titles and features animations of The Volcano eruptions and iconic buildings at The Mirage. The new slot game…

US – MGM pushes through mandate for employees to be vaccinated

MGM Resorts has become the first US casino group to insist that all salaried employees must be vaccinated against COVID-19 as a condition of employment. MGM has approximately 57,000 employees nationwide and said it is planning to hire several thousand additional workers. MGM spokesman Brian Ahern said: “Our goal is to get as many people…

US – BetMGM expands into Arizona with Gila River deal

BetMGM is partnering with Gila River Hotels & Casinos and the Arizona Cardinals for retail and online sports betting, establishing its first relationships in the state of Arizona. BetMGM plans to bring its industry leading platform online once legalised sports betting launches in Arizona. The company also plans to open retail sportsbooks at the three…

US – MGM Resorts announces transformational agreements with VICI and MGM Growth Properties

MGM Resorts International has announced it has entered into a definitive agreement with VICI Properties and MGM Growth Properties LLC whereby VICI would redeem a majority of MGP operating partnership units held by MGM Resorts for $43 per unit, or approximately $4.4bn in cash, and acquire 100% of the outstanding class A shares of MGP…