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MGM Resorts International (NYSE: MGM) is a leading global entertainment company known for its world-renowned resorts and casinos. Operating 31 unique hotel and gaming destinations worldwide, MGM Resorts creates immersive experiences through its Las Vegas-inspired brands. With flagship properties such as MGM Grand, Bellagio, and Mandalay Bay on the Las Vegas Strip, MGM is the largest resort operator in the area, boasting 35,000 guest rooms and suites.
Recent Achievements: MGM Resorts received the prestigious 'A' for environmental leadership and an 'A-' in water security, placing it in the top 0.015% of reporting companies. The company’s dedication to sustainability is evident through its
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MGM Resorts International has launched its BetMGM iGaming and online sports betting brand in the United Kingdom, leveraging the technology and platform of LeoVegas. This marks the company's expansion of the BetMGM brand into international markets. The UK offering features large-scale and frequent jackpots, loyalty rewards, unique sports promotions, and exclusive slots. The product is available on desktop and mobile web, with mobile applications planned for development. The BetMGM brand aims to provide relevance to both sports bettors and iGaming consumers in the UK.
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MGM China Holdings announced strong financial results for Q2 2023, with adjusted EBITDA surpassing pre-COVID levels and market share reaching 15%. Visitation and gross gaming revenue have recovered significantly, contributing to the positive performance.
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MGM Resorts International reported record consolidated net revenue of $3.9 billion for Q2 2023, a 21% increase compared to the prior year quarter. MGM China outperformed the Macau market with Adjusted Property EBITDAR and net revenues surpassing Q2 2019. Las Vegas Strip Resorts achieved solid results with year-over-year ADR and occupancy growth. The company repurchased 15 million shares for $626 million during the quarter and announced a long-term license agreement with Marriott International.
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MGM Resorts (MGM) Announces The Cosmopolitan of Las Vegas Transition to MGM Rewards Loyalty Program
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Marriott International and BetMGM sign a loyalty marketing agreement to make Marriott Bonvoy the exclusive hospitality loyalty program partner of BetMGM. The agreement will launch in October 2023 and include 17 MGM resorts with over 40,000 rooms in Las Vegas and other U.S. cities.
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MGM Resorts International will release its Q2 2023 financial results on August 2, 2023. A conference call will be held at 5:00 p.m. Eastern Time to discuss the results.
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FAQ
What is the current stock price of MGM RESORTS INTERNATIONAL (MGM)?
The current stock price of MGM RESORTS INTERNATIONAL (MGM) is $34.74 as of December 24, 2024.
What is the market cap of MGM RESORTS INTERNATIONAL (MGM)?
The market cap of MGM RESORTS INTERNATIONAL (MGM) is approximately 10.3B.
What is MGM Resorts International known for?
MGM Resorts International is known for its world-renowned resorts and casinos, luxurious facilities, and exceptional customer service.
How many properties does MGM Resorts operate?
MGM Resorts operates 31 unique hotel and gaming destinations worldwide, including flagship properties on the Las Vegas Strip.
What are some of MGM's recent achievements?
MGM recently received an 'A' for environmental leadership, launched BetMGM in the Netherlands and the UK, and redesigned the Mandalay Bay Convention Center.
Where can I find MGM’s financial performance updates?
MGM's financial results are available on their Investor Relations website. Q1 2024 results will be announced on May 1, 2024.
What is BetMGM?
BetMGM is MGM Resorts' iGaming and online sports betting brand, recently launched in the Netherlands and the UK.
What is MGM's commitment to sustainability?
Through its 'Focused on What Matters' philosophy, MGM is dedicated to sustainability, earning high grades in environmental leadership and water security.
What are MGM's expansion plans?
MGM is expanding globally, with significant projects such as a new resort in Japan by 2030 and international launches of BetMGM.
What are some of the iconic properties operated by MGM?
MGM operates iconic properties like MGM Grand, Bellagio, Mandalay Bay, and more on the Las Vegas Strip.
How does MGM contribute to the hospitality industry?
MGM enhances the hospitality industry with best-in-class hotels, state-of-the-art meetings and conference spaces, and incredible entertainment experiences.
Where can I learn more about MGM Resorts International?
For more information, visit MGM Resorts International's website at www.mgmresorts.com.
MGM RESORTS INTERNATIONAL
NYSE:MGM
MGM Rankings
MGM Stock Data
10.34B
230.02M
22.74%
69.76%
4.62%
Resorts & Casinos
Hotels & Motels
United States of America
LAS VEGAS