MGM RESORTS INTERNATIONAL - MGM STOCK NEWS

MGM Resorts International has promoted Ari Kastrati to Chief Content, Hospitality and Development Officer, effective immediately. In his expanded role, Kastrati will oversee global design and development efforts, sports and entertainment partnerships, while continuing to drive the company's hospitality strategy, including food and beverage and nightlife concepts. He will also lead lifestyle, retail, leasing, and arts divisions, reporting directly to CEO Bill Hornbuckle.

Kastrati, who joined MGM Resorts in 2010, previously served as Chief Hospitality Officer and has over 25 years of industry experience. He has been important in developing the company's portfolio of dining and nightlife destinations and will now play a larger role in MGM's expansion into luxury destinations globally.

MGM Resorts International (NYSE: MGM) and MGM China announced their participation in the 2024 Bank of America Leveraged Finance Conference on December 3, 2024. Senior leadership from both companies will present at 9:30 a.m. ET, with a live webcast available on the MGM Investor Relations website.

MGM Resorts, an S&P 500® company, operates 31 hotel and gaming destinations globally, featuring premium hotels, casinos, and entertainment venues. The company's portfolio includes BetMGM, a 50/50 venture offering sports betting and online gaming in North America, and LV Lion Holding , which provides similar services in Europe. MGM Resorts is also pursuing expansion in Asia through a Japanese integrated resort development.

MGM Resorts International successfully hosted the second Las Vegas Grand Prix, featuring exclusive events and experiences across its properties. The sold-out Bellagio Fountain Club served as the premier viewing destination, attracting numerous celebrities and top F1 drivers including Max Verstappen, George Russell, Lewis Hamilton, and Carlos Sainz. The event showcased world-renowned chefs and unique experiences like Carlos Sainz' Smooth Operator Dance Lounge at ARIA and the popular Shoey Bar at Bellagio. The weekend culminated with race winners celebrating at the Bellagio Fountain Club Winner's Stage, complete with fountain displays and fireworks.

BetMGM has announced a significant upgrade to its customer experience by consolidating BetMGM Reward Points (BRPs) into a single account system. This enhancement allows users to access their rewards points across different jurisdictions, complementing the existing single, digital wallet feature that provides unified login credentials and cash balance accessibility. BetMGM became the first sports betting app to offer Nevada bettors nationwide connectivity through this digital wallet system in August. Players can earn rewards points through BetMGM Sportsbook, Casino, and Poker activities, which can be redeemed for odds boosts, Gametime credits, at MGM Resorts destinations, or exchanged for Marriott Bonvoy Points.

BetMGM launches its first Original Bets Sweepstakes for the 2024 Emirates NBA Cup from November 21-29. Customers who wager $10+ on NBA Cup Original Bets can win a Las Vegas sports vacation package including a five-night stay at MGM Grand, tickets to semifinal and championship games, an on-court photo opportunity, and $2,500 in BetMGM Rewards Points. The promotion allows up to 25 entries per person but is not available in Nevada, New York, Ontario, or Puerto Rico. BetMGM's Original Bets are powered by Angstrom's play-by-play simulation models, offering unique markets like both teams scoring in the first minute.

MGM Resorts International has signed a 5.5-year Whole Portfolio Agreement (WPA) with Cisco, gaining access to most of Cisco's software portfolio. The agreement includes cybersecurity, software-defined networking, digital experience assurance, full-stack observability, data center, and services. This partnership aims to enhance guest experiences across all MGM properties through network automation and will enable future location services and machine learning applications. The implementation will support MGM's sustainability goals while ensuring uptime and security for their 24/7 operations.

MGM Resorts International (NYSE: MGM) is hosting its 14th annual USO Experience: Salute to the Troops at Mandalay Bay Resort & Casino, starting November 8. The five-day celebration will honor more than 100 active-duty service members injured in the line of duty. American Airlines will provide transportation while MGM Resorts offers complimentary accommodations, meals, and entertainment. The event includes various activities across Las Vegas, including tours of Hoover Dam, Red Rock Canyon, and visits to local attractions. MGM Resorts was recently awarded the 'Extraordinary Employer Support Award' by the U.S. Department of Defense for its commitment to military recruitment and employment.

MGM Resorts International announces extensive plans for the 2024 Las Vegas Grand Prix, scheduled for November 21-23. The company is introducing new experiences across its Strip properties, including the enhanced Bellagio Fountain Club featuring renowned chefs, Carlos Sainz's 'Smooth Operator' Dance Lounge at ARIA, and various race-viewing experiences. The event will showcase interactive racing activations, luxury fashion pop-ups, and exclusive culinary experiences with industry icons. Notable additions include the Mercedes Race Experience at ARIA, the return of the popular Shoey Bar at Bellagio, and numerous high-end dining events featuring celebrity chefs and premium beverage brands.

MGM China reported strong performance for the first nine months of 2024, with key metrics surpassing pre-COVID 2019 levels. The company's net revenue grew 38% year-on-year, reaching 137% of 2019 levels, while adjusted EBITDA increased 37% to HK$6.9 billion, representing 150% of 2019 levels. Market share in Macau expanded to 15.9% year-to-date, up from 9.5% in FY2019. MGM COTAI generated revenue of HK$13.7 billion with adjusted EBITDA of HK$4.0 billion, while MGM MACAU recorded revenue of HK$9.8 billion with adjusted EBITDA of HK$2.9 billion. The Group maintained strong liquidity of HK$17.2 billion.