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Tag Archives: MGM Resorts

US – MGM Resorts completes Cosmo takeover

MGM Resorts International has announced the closing of its transaction with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas for cash consideration of $1.625bn. With the closing of the transaction, The Cosmopolitan of Las Vegas officially joins MGM Resorts‘ roster of iconic brands along the Las Vegas Strip. “This is a big moment for…

Sweden – MGM Resorts makes bid to buy LeoVegas

MGM Resorts International announced that it has commenced a recommended public tender offer for 100% of the shares of LeoVegas AB at a price of SEK 61.00 in cash per share, equivalent to a total tender value of approximately $607m. The acquisition will be financed with existing cash and is expected to be accretive to MGM Resorts’…

Japan – Casinos Austria and MGM to lead Japan’s casino revolution

Casinos Austria International and MGM look likely to lead the birth of casino gaming in Japan with both the Nagasaki and Osaka prefectures submitting their area development plans for their respective casino bids to the national government.   With Wakayama withdrawing from the race, Japan will only see two casinos in the first wave rather…

US – GAN sues MGM in Delaware court

Online gaming provider GAN is looking for damages of at least a reasonable royalty amount to be determined at trial, having filed a lawsuit against MGM Resorts International for allegedly infringing a GAN patent via its M Life Rewards casino program and its BetMGM platform. The complaint was filed in the US District Court for the District of…

US – MGM Resorts and BetMGM Strengthen Unified Commitment to Responsible Gaming

MGM Resorts International and BetMGM have announced the next evolution of their responsible gaming initiative providing the gaming industry’s most comprehensive tools for both in-person and online gaming to help players make responsible, informed decisions. The announcement comes as MGM Resorts and BetMGM join the National Council on Problem Gambling in promoting Problem Gambling Awareness Month…

US – MGM generates best ever Q4 results as Las Vegas Strip bounces back

The improved performance of its casinos on the Las Vegas Strip helped MGM to its best ever fourth quarter results, generating net revenues of $1.8bn on the Strip, an increase of 277 per cent compared to the prior year quarter, and an increase of 26 per cent compared to the fourth quarter of 2019. The operator’s…

China – MGM turns things around in Macau with 85 per cent increase in 2021

During the Year, MGM China‘s net revenue soared by 85 per cent to approximately HK$9.4bn. The Group had a turnaround to an adjusted EBITDA of approximately HK$390m, compared to a negative adjusted EBITDA of HK$1.4bn in 2020. Despite the ongoing impact of the COVID-19 pandemic in 2021, Macau has been seeing a gradual recovery. The city recorded a 31 per cent…

US – MGM Resorts launches new loyalty rewards program

MGM Resorts has officially launched MGM Rewards, its new loyalty rewards program, offering enhanced benefits and new ways to earn for its millions of members worldwide. For the first time, non-gaming members will join their gaming counterparts and earn a currency – MGM Rewards Points – redeemable for complimentary dining, entertainment, hotel stays and much…

US – MGM Resorts presents new loyalty programme

MGM Resorts has set out details for a a reimagined loyalty rewards programme, MGM Rewards, to be launched on February 1. The programme is set to offer ‘unprecedented’ access for both gaming and non-gaming guests to the company’s destinations across the country, offering more ways to earn and a host of new benefits. For the…