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Business
June 24, 2024
MGM to Acquire Tipico’s US Platform and Empower LeoVegas
Gambling and hospitality powerhouse MGM Resorts International has unveiled the acquisition of Tipico Group’s US assets, in line with previous rumors. The deal will see MGM, through its LeoVegas subsidiary, acquire Tipico’s sportsbook and iGaming platform in the United States. Tipico decided to divest its US assets earlier this year, citing market shifts as the […]
Industry
June 20, 2024
Member of Scattered Spider Cybercrime Group Arrested in Spain
A 22-year-old UK man, suspected to be a pivotal member of the notorious Scattered Spider cybercrime group, was apprehended by Spanish authorities this week, representing a significant breakthrough for international cybercrime investigations. The operation, part of an ongoing investigation by the FBI, underscores the escalating global efforts to prevent attacks similar to those against prominent […]
Casino
June 20, 2024
MGM Resorts and Playtech to Introduce Live Casino Content
MGM Resorts International, the global entertainment and gaming company, confirmed a groundbreaking deal by teaming up with the LSE-listed technology provider for the global gambling industry, Playtech. Announced today, the new activation sees the two leading companies team up to deliver engaging and unique live casino content to online gambling operators across the globe. The […]
Legal
June 19, 2024
FTC Seeks Response from MGM Resorts in Cyberattack Case
Last autumn, MGM Resorts, the leading gaming, entertainment and hospitality giant, became a victim of a cyberattack. Hackers were able to disrupt the operator’s business leading to missing amenities and other inconveniences for the guests in a move that ultimately resulted in $100 million in lost EBITDA for the company. An investigation attempt was made […]
Legal
June 17, 2024
MGM Resorts Dealing with New Class Action Lawsuit
In September 2023, the S&P 500 global gaming and entertainment company featuring national and international locations that create “immersive, iconic experiences,” MGM Resorts, was hit by an unprecedented cybersecurity attack across several US states that prompted the shutdown of computer systems. Now, MGM Resorts is facing a class action lawsuit alleging a series of failures […]
Industry
May 9, 2024
Reward of $1M Offered in Alleged Drink Spiking Incident at Vegas Casino
Dwight Manley, a prominent high roller and real estate executive from California, who also used to be an agent for Denis Rodman back in the 90s, filed a lawsuit against the leading gaming and entertainment company, MGM Resorts. The lawsuit, dating back to November 2022, came after an alleged incident that has taken place at […]
Industry
May 9, 2024
Hackers behind MGM Attack Launch Cyberattack on Financial Sector
In the second half of last year, two leading betting and gaming operators, Caesars Entertainment and MGM Resorts International, fell victim to separate cyberattacks. While Caesars was able to resolve the situation rather quickly, the impact on MGM was more severe as it took the company days to resume normal operations. Not unexpectedly, the cybersecurity […]
Industry
May 2, 2024
MGM Management Shares Insights on Long-Term Strategy
During a recent earnings call, MGM management discussed long-term strategy, focusing on various aspects, including the development of BetMGM, expansion into new markets, and growth projections. The company hopes to leverage its record-breaking Q1 results to bolster expansion, consolidate its position in core markets, and achieve lasting success. MGM Is Optimistic regarding Its International Operations […]
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 […]
