Business
May 2, 2024
MGM Resorts Posts Record-Breaking Q1 Results, Eyes New Opportunities
MGM Resorts has published a record-breaking quarterly report, highlighting a significant increase in revenue. The company attributed the positive results to its diverse assets. For context, MGM’s net revenues for the period reached a whopping $4.4 billion, representing an increase of 13% year-on-year. According to CEO Bill Hornbuckle, this stellar figure was underpinned by the […]
Business
April 24, 2024
Goldman Sachs Recognizes MGM’s Leadership in Share Repurchases
MGM Resorts International is poised to emerge as one of the frontrunners in share repurchasing this year, according to financial analysts at Goldman Sachs. The renowned casino operator’s consistent dedication to buying back its own shares has earned it a coveted spot in Goldman’s buyback basket, a significant indicator of market confidence. MGM Shines in […]
Business
April 16, 2024
Analysts Bullish on MGM Resorts Stock for Near-Term Rebound
MGM Resorts International, the globally recognizable entertainment and gaming operator, received a “Buy” rating for its stock by an expert analyst, while another firm recently highlighted the possibility for the company’s stock to rebound, despite recent dips. As of the market close on Monday, April 15, 2024, MGM’s stock traded at $42.85 per share. A […]
Legal
April 16, 2024
MGM Seeks to Block FTC’s 2023 Cyberattack Investigation with Lawsuit
In September, MGM Resorts International, the leading gaming and entertainment company, fell victim to a group of hackers. The actions of the suspected “Scattered Spider” group resulted in disruptions in the company’s operations for approximately one week. The local impact was related to missing amenities and inconvenience created for MGM guests. But the wider impact […]
Industry
April 11, 2024
FTC Investigating MGM’s Response to 2023 Cyber Hack
The fallout from the cybersecurity breach incident that shook MGM Resorts International’s domestic operations in 2023 seems to be far from coming to an end. Recently, the Federal Trade Commission (FTC) announced it was investigating the Las Vegas-based gaming giant’s response to the cyber attack. Large Volume of Data Required Via a CID In January, […]
Business
April 10, 2024
MGM Completes Issue of $750M in Senior Secured Notes
Global gaming and entertainment company MGM Resorts International said that it has issued $750 million in senior secured notes, in accordance with an earlier announcement. The offering has a rate of 6.500% and is due in 2032. The extra capital, according to MGM Resorts’ announcement, will be used to repay outstanding debts and new investments. […]
Industry
March 29, 2024
MGM Resorts CEO Hornbuckle Met with President Xi Jinping
MGM Resorts chief executive officer and president Bill Hornbuckle was one of the US business leaders who met with China’s President Xi Jinping at Wednesday’s official meeting in Beijing. The meeting, which took place in the East Hall of the Great Hall of the People, was meant to sweeten the relations between the two global […]
Poker
March 27, 2024
BetMGM Poker to Host Online Qualifiers for Borgata Spring Poker Open
MGM has selected its BetMGM Poker platform as the exclusive platform for online qualifiers for the Borgata Spring Poker Open tournament. This allows online players to challenge others for a shot at the $4 million event in New Jersey. From April 1, poker enthusiasts will be able to register for the event and join $5 […]
Business
March 21, 2024
MGM Resorts Contemplates Selling Ohio and Massachusetts Casino Ventures
MGM Resorts International is reportedly considering the sale of its casino operations located in Ohio’s Northfield Park and Springfield, Massachusetts. Stock Woes Prompt MGM Resorts to Mull Ohio and Massachusetts Property Sales Sources familiar with the matter revealed to Bloomberg that MGM Resorts is actively exploring the possibility of selling its properties in Ohio and […]
Casino
March 19, 2024
MGM Critiques Macau’s Foreigner-Only Zones, Highlights Solution
Casino gambling, wagering on sports and iGaming activities are prohibited in China. The country has tough laws when it comes to gambling, but an exception is applied to Macau, a popular tourist destination and a special administrative region (SAR) of China. Although the city offers casino gambling, the crackdown against the activity extended from China […]
