Mgm Resorts - MGM STOCK NEWS

VICI Properties has signed an agreement to acquire BREIT's 49.9% interest in the joint venture owning MGM Grand Las Vegas and Mandalay Bay for approximately $1.27 billion. This acquisition also involves VICI assuming BREIT’s share of property-level debt of $3 billion, maturing in 2032. The properties are subject to a triple-net lease with MGM Resorts, yielding annual rents of $310 million. The deal is expected to be accretive to VICI's AFFO per share and is anticipated to close in early 2023.

BetMGM has been awarded 'Online Casino of the Year' at the 2022 American Gambling Awards, reflecting its leadership in the iGaming sector. With a substantial 30% market share across New Jersey, West Virginia, Pennsylvania, and Michigan, BetMGM's recognition is attributed to its diverse game offerings, effective marketing strategies, and strong organizational growth in 2022. The award emphasizes BetMGM's commitment to innovation and responsible gaming practices, available in the BetMGM app, which recently expanded to Maryland.

BetMGM has launched its mobile sports betting app in Maryland, enhancing its retail sportsbook at MGM National Harbor. The app offers various betting options, integrating with MGM Rewards for experiences at MGM locations nationwide. This initiative aims to connect sports fans in the DC-Maryland-Virginia region with online betting opportunities. CEO Adam Greenblatt highlighted the app’s user-friendly design and its role in expanding BetMGM's offerings beyond physical locations. The app is available on iOS, with Android support coming soon.

BetMGM has awarded a $180,000 grant to the International Center for Responsible Gaming (ICRG) to fund research and education on responsible gambling and advertising's impact on problem gambling. This collaboration aims to enhance understanding of potential risks, shaping best practices in the gaming industry. BetMGM emphasizes its commitment to responsible gambling through its GameSense program, integrated into its platforms, ensuring customers receive support to gamble responsibly. The ICRG, established in 1996, is a leader in research on gambling disorders.

BetMGM has signed retired U.S. soccer star Tim Howard as a brand ambassador, launching a $250,000 bracket challenge in conjunction with the upcoming 2022 International Soccer Matches. The initiative includes free-to-play games, with grand prizes for accurate bracket predictions and special offerings for new and existing customers. BetMGM aims to enhance customer engagement with interactive opportunities and responsible gaming education. The promotions are available across multiple U.S. states and Ontario, Canada.

MGM Resorts International will create a unique viewing experience for the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2023, scheduled for November 16-18, 2023. Guests can buy exclusive race-and-stay packages that include a three-day race ticket and a three-night stay at various MGM properties, such as Bellagio and MGM Grand. The packages provide access to grandstands located on the Bellagio lake. MGM's Chief Commercial Officer, Steve Zanella, emphasized the aim to deliver an unparalleled event experience in Las Vegas.

MGM Resorts International is set to host the 'USO Experience: Salute to the Troops' event, honoring over 100 wounded warriors and their guests from November 10, 2022. This annual event, held at Mandalay Bay Resort & Casino, will include a variety of activities, meals, and accommodations provided free of charge. In partnership with American Airlines, active-duty service members will be flown to Las Vegas at no cost. MGM Resorts also emphasizes its commitment to supporting military families year-round, including employment initiatives and community support.