Tag Archives: MGM Resorts
US – MGM Resorts International promotes Fritz to President of Interactive
MGM Resorts International announced the appointment of Gary Fritz to President of MGM Resorts Interactive. Fritz will oversee and advance MGM Resorts’ diversification strategy by expanding the Company’s digital platforms organically and through acquisitions. This includes driving growth and innovation through the company’s industry-leading sports betting and iGaming platform, BetMGM. “Enhancing and growing our digital…
US – MGM Resorts completes $604m LeoVegas purchase
MGM Resorts’s public tender offer for the shares of LeoVegas has been accepted by 96 per cent of LeoVegas shareholders at a price of SEK 61.00 in cash per share, equivalent to a total tender value of approximately $604m. MGM Resorts believes the acquisition will provide a unique opportunity for the company to create a…
US – MGM enjoys best ever month of EBIDTA in Las Vegas
MGM Resorts generated net revenues of $3.3bn compared to $2.3bn in the prior year quarter, marking an increase of 44 per cent with the current quarter benefitting from the inclusion of the operating results of The Cosmopolitan of Las Vegas and Aria and Vdara. The operator said results improved over the prior year quarter due to increased business volume and…
Singapore – Nomura casts doubt on any deal between MGM and Genting
Japanese investment bank Nomura does not believe that Malaysian casino operator Genting Berhad will sell any shares in Genting Singapore, operator of Resorts World Sentosa (RWS), to MGM Resorts. The US gaming giant held talks with Genting over a possible takeover last week however Nomura analysts Tushar Mohata and Alpa Aggarwal don’t believe there is…
US – MGM Resorts and BetMGM expand partnership with Major League Baseball
Major League Baseball, MGM Resorts International and BetMGM, have announced the renewal and expansion of a partnership that, in 2018, designated MGM Resorts as MLB’s first Official Gaming Sponsor. Under the renewed, multi-year agreement, BetMGM will continue to be an Official Sports Betting partner of MLB, domestically marketing its brand and gaming options across a…
US – MGM Resorts gains access to MLB player branding and marketing rights
MGM Resorts has signed a multi-year agreement to become an Official Partner of MLB Players, Inc., the business arm of the Major League Baseball Players Association. As well as giving the company use of MLB Players’ branding and group marketing rights, the partnership will provide hospitality benefits to MLB Players with MGM Resorts’ properties serving…
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. Â With Wakayama withdrawing from the race, Japan will only see two casinos in the first wave rather…
