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Industry
August 9, 2024
MGM’s Osaka Integrated Resort May Get Another Setback
Local media outlets in Japan have seen documents from the Bureau International des Exposition (BIE), which oversees the upcoming Expo 2025 or World Fair, as the gathering is colloquially known, which ask for the construction of the integrated resort to be put on pause for six months. Work on MGM Osaka May Halt Because of […]
Business
July 29, 2024
BetMGM Posts Negative H1 EBITDA Amid Investment Year
Gaming and betting giant Entain has published a report concerning the BetMGM brand’s performance in the first half of 2024 (H1). Co-owned by Entain and MGM Resorts International, the operator recorded accelerating momentum through the year. Negative EBITDA Is in Line with Expectations The H1 update highlighted net revenue from operations of 1 billion, up […]
Legal
July 24, 2024
Pending Legislation May Halt FTC Probe into MGM Cyberattack
A bill in the US House of Representatives could stop the Federal Trade Commission (FTC) from investigating last September’s cyberattack on MGM Resorts International. The Republican-sponsored spending bill also calls for a 27% cut in the FTC’s budget. Congress Introduces Bill to Limit FTC’s Power in MGM Ransomware Probe The provision targets a civil investigative […]
Legal
July 22, 2024
FBI Arrests UK Teen Connected to MGM Resorts Hack
A 17-year-old from Walsall, UK, is under police custody as part of a global cybercrime probe aimed at hacking groups that targeted high-profile gambling operators, including MGM Resorts in the US. The arrest came on Thursday, 18 July, as part of a massive multi-agency operation by the West Midlands Regional Organised Crime Unit, the National […]
Industry
July 16, 2024
MGM China Hosted Unprecedented Responsible Gambling Course
MGM China announced that it has co-hosted the first of its kind responsible gambling training course in Macau. Alongside the Macao Federation of Trade Unions (FAOM) and the Macao Gaming Industry Employees Home Integrated Services Centre, the operator organized the Contributing a Harmonious Community – Responsible Gaming Promotion Ambassador certificate training course. While MGM acknowledged […]
Business
July 12, 2024
JP Morgan Analyst Sees Bright Investment Future for MGM Resorts
MGM Resorts International is drawing attention with its investment potential, a report by JP Morgan analyst Joseph Greff said. In a note to investors, Greff stressed the good risk/reward profile of MGM’s stock and confirmed his Overweight rating while setting a price target of $57 per share. MGM Resorts’ Strong Cash Flow and Strategic Moves […]
Casino
July 5, 2024
Cosmopolitan’s Identity Membership to Merge with MGM Rewards on July 30
For those who visit the Cosmopolitan Las Vegas often, there is big news coming your way. The resort’s program, Identity Membership and Rewards will be transitioning to MGM Rewards on July 30. For reference, this change comes after MGM Resorts International bought Blackstone’s operating rights for $1.6 billion in September 2019. Cosmopolitan Identity Program Merging […]
Business
July 1, 2024
Analyst Bullish on MGM’s Potential Online Gambling Expansion
A few years ago, in 2022, MGM Resorts International announced the acquisition of LeoVegas, a leading sportsbook brand with a growing presence. Last week, the company confirmed its plans to acquire Tipico’s US platform in order to strengthen LeoVegas’ presence in the country, paving the way for its further growth and expansion. Although financial details […]
Legal
June 28, 2024
FTC Dismisses MGM’s Legal Challenge to Its Investigation
The Federal Trade Commission (FTC) has dismissed MGM Resorts’ challenge to an investigation into its data security protocols. While the casino and hospitality powerhouse alleged due process violations, the FTC filed a motion to dismiss these claims. For context, the FTC issued a civil investigative demand (CID) into the operator’s business in the wake […]
Business
June 26, 2024
MGM Resorts, LVS and Wynn Highlighted in Goldman Sacks’ Sharpe Ratio Picks
Three leading gaming companies made it to the “high Sharpe Ratio” basket comprised by the leading global investment banking, securities and investment management firm, Goldman Sachs. Investors with the firm recently rebalanced the aforementioned basket, as announced in a report released by Seeking Alpha. Currently, the high Sharpe Ratio basket helps identify 50 S&P 500 […]
