MGM RESORTS & BETMGM STRENGTHEN RELATIONSHIP WITH KINDBRIDGE, FURTHERING SUPPORT FOR PROBLEM GAMBLING RESEARCH & TREATMENT
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Insights
The initiative by MGM Resorts to support problem gambling research through a donation to Kindbridge Research Institute is a strategic move that aligns with the company's corporate social responsibility objectives. It demonstrates an awareness of the social impact of gambling and positions MGM as a proactive player in promoting responsible gaming. This could enhance the company's reputation among consumers who are increasingly valuing ethical practices in business. From a market perspective, such actions can potentially lead to increased customer loyalty and brand strength, which may translate into long-term financial benefits.
Moreover, the focus on veterans is a targeted approach that addresses a specific demographic known to be at higher risk for gambling disorders. The success of this treatment could lead to further research and development of specialized solutions for other at-risk groups. For investors, this signals MGM's commitment to innovation and social responsibility, which could have a positive influence on the company's stock performance as ethical investment criteria gain traction in the market.
The partnership between MGM Resorts and Kindbridge marks a significant step in addressing gambling disorders, a public health issue often overshadowed by other forms of addiction. The $100,000 donation for a medication trial represents an investment in pioneering research that could lead to breakthroughs in the treatment of gambling addiction. The trial's focus on veterans also acknowledges the unique challenges faced by this group, potentially leading to tailored treatments that could be more effective than general approaches.
From a medical research perspective, the outcomes of this trial could offer valuable insights into the neurobiological mechanisms of gambling addiction and inform future pharmacological strategies. If the medication proves to be successful, it could set a precedent for similar studies, enhancing the arsenal of treatments available to mental health professionals and benefiting the broader community of individuals struggling with gambling disorders.
The financial implications of MGM's initiative to fund problem gambling research are multifaceted. The immediate $100,000 investment is a relatively modest sum for a corporation of MGM's size, but it reflects a strategic positioning that could mitigate potential regulatory risks associated with the gaming industry. As regulatory bodies and the public demand more accountability for gambling-related harm, MGM's proactive approach could preemptively address these concerns and potentially reduce future liabilities or stricter regulations that might impact profitability.
In the long run, if the medication trial yields positive results, it may lead to reduced incidences of problem gambling, which could paradoxically result in a more sustainable customer base for MGM. While it might seem counterintuitive, a gaming industry that promotes responsible gambling can sustain higher levels of consumer trust and engagement without the backlash of negative social consequences. This balance is crucial for the long-term stability and growth of companies like MGM in the gaming sector.
Collaboration coincides with entertainment leaders' support of Problem Gambling Awareness Month
The partnerships and collaborations break down as follows:
MGM Resorts & Kindbridge Research Institute
As part of its commitment to responsible gaming research, MGM Resorts has donated
"This contribution will help explore and identify innovative treatment for a population our company cares deeply about," said Stephen Martino, Senior Vice President and Chief Compliance Officer, MGM Resorts. "We have a longstanding commitment to supporting military members and their families year-round and are privileged to invest in research that benefits this important community."
Research will be completed by treatment providers at the Las Vegas Veterans Affairs Residential Recovery and Renewal Center (LVR3) in partnership with the University of Nevada-Las Vegas. The study is part of Kindbridge Research Institute's 50x4vets program, a multi-year research initiative aimed at increasing research on gambling disorder in veterans by fifty times in four years.
"This is such a promising intervention," said Nathan D. Smith, Executive Director of Kindbridge Research Institute. "We are so grateful for MGM Resorts' support of this research to improve the lives of veterans and extend the work of the many great scientists, treatment providers, and donors of the 50x4vets program."
BetMGM & Kindbridge Behavioral Health
BetMGM has announced it will expand its relationship with Kindbridge Behavioral Health to offer problem gambling referrals in
"We are proud to lead the way in providing individuals with this potentially life-changing support and are pleased with how the program has performed so far," said Rhea Loney, BetMGM's Chief Compliance Officer. "This expanded investment underscores our dedication to ensuring those who need care can receive it. As access to sports betting and online gaming continues to grow, so should access to problem gambling treatment and care."
This unprecedented collaboration between an online operator and a treatment provider offers direct access to comprehensive mental health assessments, treatment, and group support services. As a result, a number of
"We welcome BetMGM's decision to extend mental health services to players in distress across multiple jurisdictions," added Daniel Umfleet, CEO of Kindbridge Behavioral Health. "This initiative is a positive step toward supporting individuals facing challenges with gambling. It underscores the importance of accessible help and the role we all play in fostering safer gaming environments."
This news comes as MGM Resorts and BetMGM join the National Council on Problem Gambling (NCPG) in recognizing March as Problem Gambling Awareness Month (PGAM). Throughout the month, new GameSense messaging will be displayed prominently throughout MGM Resorts properties nationwide, as well as in the BetMGM app. GameSense is an industry-leading responsible gaming program first developed and licensed to MGM Resorts in 2017 by the British Columbia Lottery Corporation (BCLC). The program focuses on positive, transparent, and proactive interactions with guests and customers about how to gamble responsibly.
Additional Commitments
- MGM Resorts and BetMGM provide all employees with comprehensive and research-based responsible gaming training throughout the year. This training empowers employees to proactively promote responsible play and address problem gambling concerns through GameSense.
- The MGM Resorts and BetMGM responsible gaming employee training program through GameSense has been assigned to more than 64,000 employees this year. More than 400 of those employees have already completed the highest level of trainings, earning the title of GameSense Advisor.
- GameSense Advisors are staffed at each MGM Rewards desk across the country, ready to provide assistance and support to guests and their families.
- MGM Resorts and BetMGM also continue in their partnership with the American Gaming Association's (AGA) Have A Game Plan. ® Bet Responsibly.™ public service campaign to educate new and seasoned bettors on responsible, legal sports wagering.
For more information, follow @mgmresorts and @BetMGM on X (formerly Twitter).
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of
About BetMGM
BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's
About Kindbridge Behavioral Health
Kindbridge Behavioral Health is a pioneering mental health service provider dedicated to supporting individuals facing challenges related to problem gambling and other prevalent mental health issues. With a mission to provide comprehensive care and accessible resources, Kindbridge is committed to helping people take control of their recovery journey, as well as provide necessary mental health education amongst corporate executives, athletes, academia, policy makers, and peers in clinical counseling. If interested in learning more, please visit www.kindbridge.com or call 1-877-426-4258.
About Kindbridge Research Institute
The Kindbridge Research Institute is a leading organization in the field of mental health research. Its mission is to improve mental health outcomes through public health strategy design and innovative research. The organization's focus is on leveraging telehealth solutions to bring better mental health care options directly to distressed and disordered gamblers and gamers. For more information, please visit www.kindbridgeinstitute.org.
About British Columbia Lottery Corporation
BCLC is a social purpose company based in
Forward-Looking Statements
Statements in this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which involve substantial risks and/or uncertainties, including those described in MGM Resorts International's public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. MGM Resorts and BetMGM have based forward-looking statements on management's current expectations, assumptions and projections about future events and trends. Examples of these statements include, but are not limited to, MGM Resorts' and BetMGM's expectations regarding the collaboration with Kindbridge, the programs and research initiatives related to the collaboration, and the additional responsible gaming initiatives and commitments to be undertaken by MGM Resorts and BetMGM. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Included among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements are: risks related to the effects of economic conditions and market conditions in the markets in which MGM Resorts and BetMGM operate; the significant competition within the gaming and entertainment industry; risks that the collaboration with Kindbridge or other responsible gaming commitments and initiatives do not occur or do not occur in the manner described herein; MGM Resorts' and BetMGM's ability to execute on their respective business plans; changes in applicable laws or regulations, particularly with respect to iGaming and online sports betting; MGM Resorts' and BetMGM's ability to manage growth and access the capital needed to support their respective growth plans; MGM Resorts' and BetMGM's ability to obtain the required licenses, permits and other approvals necessary to grow in existing and new jurisdictions, and additional risks and uncertainties described in MGM Resorts International's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, neither MGM Resorts International nor BetMGM is undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts International or BetMGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
Media Contacts
Marc Jacobson
MGM Resorts
media@mgmresorts.com
Jennifer Arapoff
BetMGM
press@betmgm.com
Pat Eichner
Kindbridge
peichner@gmaconsulting.com
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SOURCE MGM Resorts International
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