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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 […]
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 […]
