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Industry
January 10, 2021
IAC to Support MGM Entain Takeover Bid
MGM Resorts shareholder IAC ready to invest US$1 billion in Entain acquisition MGM and Entain Could Become Global Gaming and Entertainment Leader Media and internet company IAC/InterActiveCorp vowed to help MGM Resorts International in its bid to acquire British online betting firm Entain PLC. The US media giant, founded by Barry Diller, boasts a 12% […]
Business
January 8, 2021
MGM China Has No Plans for Company Restructuring
MGM China, following a statement from its parent company MGM Resorts in response to a letter sent by the Chinese subsidiary’s largest public shareholder Snow Lake Capital, released a statement of its own, claiming the company has no plans for ownership restructuring. Open Letter to MGM Resorts The letter from Snow Lake Capital which holds […]
Business
January 7, 2021
Snow Lake Capital Urged MGM Resorts to Sell 20% in MGM China
MGM Resorts would achieve synergies and ensure a retendering of the MGM China concession in Macau if it sells a 20% stake from its Chinese subsidiary to a strategic partner from the internet or travel and leisure industries in China, Sean Ma, Founder and CEO of Snow Lake Capital investment fund wrote in a letter […]
Business
January 7, 2021
MGM Resorts Appoints Jonathan Halkyard as CFO
MGM Resorts has appointed Jonathan Halkyard to the position of Chief Financial Officer at a crucial time for the recovery of the company. New CFO Named at Crucial Time US leading gaming operator MGM Resorts International announced on January 6 the appointment of former Caesars Entertainment executive Jonathan Halkyard as its new Chief Financial Officer. […]
Business
January 5, 2021
MGM Says Proposal for Merger with Entain on Table
After Entain’s confirmation, MGM Resorts International has now acknowledged publicly that it has indeed pitched a proposal for a merger with Entain, looking to consolidate the companies’ footprint globally and in the United States. MGM Confirms Proposal for Merger with Entain MGM Resorts International has confirmed that it has made a proposal to merge […]
Business
January 4, 2021
MGM Resorts Attempting to Buy Entain, Says WSJ
MGM Resorts has reportedly made an offer for Entain’s business that includes a substantial stock component, after the company previously rebuffed a $10 billion all-cash bid, Wall Street Journal has reported. Entain Reportedly in Acquisition Talks with MGM Resorts MGM Resorts is looking to buy out Ladbrokes owner Entain, the company which recently rebranded from […]
Industry
December 23, 2020
Massachusetts Gaming Commission Approves 25% Capacity Limits for Casinos
Governor Charlie Baker imposes new limitations to combat surge in Covid-19 cases and to prevent full lockdown. Gatherings During the Festive Season Might Lead to a Surge in New Cases The number of customers allowed at MGM Springfield and Massachusetts’ two other casinos will be limited at 25%, the state’s Gaming Commission ruled Tuesday. The […]
Sports
December 19, 2020
BetMGM’s Sports Betting App Goes Live in Pennsylvania
Sports betting and online casino operator BetMGM announced Friday it launched its sports wagering app in Pennsylvania to allow state bettors to take advantage of MGM Resorts’ rewards program and further expand its presence in sports betting jurisdictions nationwide. Excitement for Sports Fans The announcement for the sports betting app going live in the Keystone […]
Business
December 5, 2020
MGM Resorts Shakes Up Corporate Team, Appoints New COO
MGM Resorts International announced Friday major changes in its corporate leadership team while naming long-term executive Cory Sanders as COO. The End of MGM Resorts’ Corporate Reorganization US hospitality and entertainment group MGM Resorts International appointed chief financial officer Corey Sanders to chief operating officer on Friday. Until the company finds a replacement for the […]
Industry
December 4, 2020
MGM Resorts and MGM Growth Properties Announce Redemption of $700 Million Partnership Units
MGM Resorts had $700 million as part of its agreement with MGP to exchange $1.4 billion of the MGP Operating Partnership units owned by MGM Resorts for cash by February 2022. MGM Resorts Left with 53% Stake in MGM Growth Properties On Wednesday, MGM Resorts announced it has reduced its ownership stake in its real […]