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Casino
April 29, 2025
Appeals Court Says MGM Not at Fault in Gambler’s $24M Loss Case
A federal appeals court has decided that MGM Resorts cannot be held responsible for the huge gambling losses of a New Jersey man who said the casino giant exploited his addiction. Judges Say Gambling Addiction Does Not Create Legal Liability for Casinos Sam Antar, who calls himself a compulsive gambler and is related to the […]
Business
April 28, 2025
BetMGM Turns EBITDA-Positive as Q1 Report Shows Strength
Sports betting and online gaming giant BetMGM has reported its financials for the first quarter of the year, highlighting spectacular performance across both verticals. Most importantly, the brand posted EBITDA-positive results for the first time ever, heralding a new era for the business. The growth of the company, which is jointly owned by Entain and […]
Industry
April 28, 2025
1st Black Labor Secretary and MGM Board Member Alexis Herman Passes Away
MGM Resorts International is mourning the loss of Alexis Herman, a longtime board member and former US Secretary of Labor, who passed away earlier this week at 77. Herman, a pioneer in government service and the private sector forged an impressive legacy across decades of leadership. Her community-facing initiatives helped improve millions of lives while […]
Industry
April 28, 2025
Macau May Cut Ties with US Concessionaires if US-China Relation Worsens
Fitch Ratings predicts possible headwinds for the three US-based Macau concessionaires due to the economic shifts. In an unlikely but possible worst-case scenario, Macau might decide to end its relationship with the three companies, Fitch experts suggested. Fitch Emphasized That the Worst-Case Scenario is Still Unlikely The three US-based Macau concessionaires include Las Vegas Sands, […]
Casino
April 25, 2025
MGM Teams Up with Playtech for a New Live Dealer Studio in Vegas
MGM Resorts has added a new live dealer studio to its famous MGM Grand hotel-casino property in Las Vegas. Developed in partnership with Playtech, the new studio will offer online live dealer content to players in certain international markets where such products are allowed. The New Studio Should Open Very Soon As mentioned, the new […]
Casino
April 24, 2025
MGM Osaka Held Its Groundbreaking Ceremony
MGM Osaka, Japan’s inaugural integrated resort, has just hosted its groundbreaking ceremony. Despite the multiple delays, construction is currently underway, marking a monumental achievement for the casino industry. The Event Was Attended by the Osaka Governor The $8.9 billion resort is the brainchild of MGM Resorts International and its local partner, Orix Corp, which have […]
Business
March 21, 2025
Fitch Affirms BB- Rating and Stable Outlook for MGM Resorts
Fitch Ratings affirmed a BB- rating for MGM Resorts International and its subsidiaries. The rating reflects MGM’s EBITDA leverage and places MGM’s stock into non-investment grade. In addition to an Issuer Default Rating (IDR) of BB-, Fitch affirmed MGM’s senior secured debt at BB+ with a Recovery Rating of RR1. The unsecured debt, on the […]
Sports
March 11, 2025
MGM Board Member Barry Diller Backs Andrew Cuomo for New York City Mayor
Media tycoon and MGM Resorts International board member Barry Diller has shown his support for former New York Governor Andrew Cuomo in the upcoming New York City mayoral election. Diller’s endorsement stems from his gratitude for Cuomo’s help to develop Little Island, a public park project on the Hudson River. Diller and his wife, fashion […]
Business
March 10, 2025
MGM Resorts Executive to Retire After Three-Decade Career
A longtime executive at MGM Resorts International is set to retire next month after more than three decades with the company. Ann Hoff, who serves as president and chief operating officer of Bellagio and Park MGM, will step down from her role on April 25, according to internal communications from the company. MGM Resorts Honors […]
Legal
March 3, 2025
MGM and FTC Close to Settling Dispute Over 2023 Cyberattack Probe
The Federal Trade Commission (FTC) and MGM Resorts International are on the verge of settling a disagreement about the big cyberattack that hit the company in September 2023. The attack cost about $100 million in damages and messed up MGM’s resort operations for more than a week. The FTC had been looking into this incident. […]
