MGM RESORTS INTERNATIONAL - MGM STOCK NEWS

Borgata Hotel Casino & Spa is set to invest $55 million in redesigning and rebranding The Water Club as the MGM Tower. The project, which coincides with the resort's 20th anniversary, aims to enhance luxury accommodations with over 700 reimagined guestrooms and new luxury Vista Suites offering panoramic views of Atlantic City. The remodel will introduce a 9,000 square-foot event space on the 32nd floor and will be completed by Memorial Day weekend. Notable design features include nautical elements and bright decor. The renovations are expected to drive increased visitation to the region.

BetMGM has announced the launch of its mobile sports betting app in Massachusetts, complementing its existing retail sportsbook located at MGM Springfield. This launch is expected to enhance customer engagement, especially during a peak sports season. Users can enjoy a range of betting options, including live in-play and futures wagers, and benefit from the MGM Rewards program. This initiative follows BetMGM's recent partnership with the Boston Red Sox, further solidifying its presence in the Massachusetts market. The launch emphasizes BetMGM's commitment to responsible gambling with educational resources for users.

MGM Resorts International will take part in the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum on March 14, 2023, at 11 a.m. EST. The event will feature COO Corey Sanders and SVP Sarah Rogers, who will discuss key aspects of the company's operations and strategies. A live webcast of the session can be accessed through the MGM Investor Relations website. This participation demonstrates MGM's ongoing commitment to engage with investors and key stakeholders in the gaming and hospitality sectors.

On March 8, 2023, BetMGM launched the Wheel of Fortune Online Casino in New Jersey, marking the first brand-led online casino in North America. Collaborating with IGT (NYSE: IGT), the platform features America's Game®-branded slot titles and additional themed games. BetMGM aims to provide an innovative gaming experience, leveraging the iconic Wheel of Fortune brand, which celebrates its 40th season. Players can enjoy the casino via iOS, Android, and desktop. The launch reflects BetMGM's commitment to responsible gaming, partnering with MGM Resorts to offer gaming education resources.

BetMGM has announced its partnership with the Boston Red Sox, becoming the official sports betting partner for the iconic MLB team. This partnership marks BetMGM's first collaboration with a Massachusetts sports team, coinciding with the state's upcoming mobile sports betting launch. BetMGM will enhance the fan experience at Fenway Park with signage, VIP experiences, and co-branded content. The partnership solidifies a strong relationship with MGM Resorts, the official resort casino for the Red Sox. BetMGM emphasizes responsible gaming through its GameSense program as it enters this new market.

MGM Resorts International (NYSE: MGM) announced the appointment of Ben Winston to its Board of Directors, expanding the board to 12 members. An award-winning producer and director with 12 Emmy Awards, Winston is recognized for his work on The Late Late Show with James Corden and other prominent entertainment productions. MGM leadership believes his extensive experience in the entertainment industry will enhance the company's gaming and entertainment offerings. This strategic move aims to drive growth and innovate guest experiences, aligning with MGM's commitment to becoming a premier destination for immersive entertainment.

MGM Resorts (NYSE: MGM) and BetMGM have announced a five-year contract extension with the British Columbia Lottery Corporation (BCLC) for their responsible gaming program, GameSense. This partnership aims to enhance customer service by promoting positive conversations about responsible gambling. The agreement, coinciding with Problem Gambling Awareness Month, will involve further commitments to research and responsible gaming practices. MGM Resorts has integrated GameSense into all its platforms, reaching over 100,000 customers monthly with responsible gaming information. The contract extension is set to strengthen efforts in responsible gaming as sports betting and iGaming continue to expand.

MGM Resorts International (NYSE:MGM) and BetMGM have launched MGM Riches, their first custom omnichannel slot experience. This multi-denomination, multi-level progressive slot game features two themes: 'MGM Riches Triple Ruby' and 'MGM Riches 5x Sapphire.' Players can access this game online via BetMGM and at MGM properties in 15 U.S. states, with an upcoming launch in West Virginia. This initiative integrates MGM Rewards and BetMGM Rewards, allowing players to earn Tier Credits and redeem rewards across both platforms. The launch aims to enhance the gaming experience and engagement for customers.

MGM Resorts International has announced the launch of its luxury Bellagio Fountain Club, offering exclusive access during the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX, from November 16-18, 2023. The experience includes premium viewing of the race, unlimited food and beverages by renowned chefs like Mario Carbone and David Chang, and unique amenities such as F1 racing simulators and a private indoor hospitality deck. Ticket packages include accommodations at MGM properties, though adjacent Bellagio Grandstands are sold out.

High demand for the event suggests a lucrative opportunity for MGM, aligning with its vision to become a premier destination for F1 fans.