MGM RESORTS INTERNATIONAL - MGM STOCK NEWS

BetMGM has appointed actor Jerry Ferrara as its celebrity brand ambassador and co-host of the weekly sports podcast Unleashed. Launched on August 10, 2022, Ferrara will engage in BetMGM marketing campaigns and fan events. Known for his roles in HBO's Entourage and Starz's Power, Ferrara expresses enthusiasm for sports betting. BetMGM, a joint venture between MGM Resorts and Entain, continues to prioritize responsible gaming education as it expands its services in the U.S.

BetMGM has announced a multi-year partnership extension with the NFL, becoming one of the League's Official Sportsbook Partners in Canada. This partnership allows BetMGM to utilize official NFL marks and promote its services on NFL-operated platforms in Canada. Already operational in Ontario since April 2022, BetMGM aims to enhance the NFL fan experience through exclusive offerings and responsible gaming initiatives. This move complements its existing U.S. agreement with the NFL, further solidifying BetMGM's presence in the growing Canadian sports betting market.

MGM Resorts International reported record financial performance for Q2 2022, with consolidated net revenues of $3.3 billion, up 44% year-over-year. Net income reached $1.8 billion, significantly higher than $105 million in the previous year. The company repurchased $1.1 billion of common stock, amounting to 8% of outstanding shares. Key operational highlights include record Adjusted Property EBITDAR for the Las Vegas Strip at $825 million, a 108% increase, and a strong convention calendar ahead. However, MGM China faced a 54% revenue decline due to Macau travel restrictions.

MGM Resorts has launched The Garden Table, a unique dining experience set in the Bellagio Conservatory in Las Vegas, enhancing guest engagement with the venue's floral displays. Guests can enjoy a curated multi-course meal by award-winning chefs from MICHAEL MINA Bellagio and Sadelle's Café, priced at $250 for dinner and $75 for brunch. The immersive setting, featuring a seasonal display, aims to attract both locals and tourists. Reservations are mandated, accommodating up to six guests.

MGM Resorts International has expanded its partnership with Major League Baseball (MLB), continuing its role as MLB's first Official Gaming Sponsor. The renewed agreement includes BetMGM as an Official Sports Betting partner, enhancing marketing across MLB platforms and integrating gaming options. MGM Rewards will sponsor the All-Star Celebrity Softball Game and the All-Star Saturday Extra Innings musical performance. BetMGM will use MLB's official statistics for sports betting, promoting responsible gaming measures and collaborating on various events. The partnership aims to engage baseball fans and grow the gaming market.

MGM Resorts International (NYSE: MGM) has entered a multi-year partnership with MLB Players, Inc., granting marketing rights and hospitality benefits. The agreement allows MGM to use MLB Players' branding for promotions in the U.S., China, and Japan. Additionally, MGM will be an 'Official Offseason Destination' for MLB Players, offering benefits at its properties. This collaboration is expected to enhance MGM's connection with baseball fans globally and bolster the company's commitment to the sport.

MGM Resorts International (NYSE: MGM) plans to announce its second quarter 2022 financial results on August 3, 2022, post-market close. A conference call is scheduled for 5 p.m. EDT that day, featuring a summary of the results and a Q&A session. Prior to the call, supplemental slides will be available on MGM's Investor Relations website. A replay will be accessible until August 10, 2022. MGM Resorts operates 33 hotels and casinos globally and is a key player in the U.S. sports betting market through its BetMGM venture, also expanding into Asia with projects in Japan.

The Tom Joyner Foundation, alongside BetMGM, is launching an Executive Series for HBCU students in Fall 2022. This initiative aims to connect students with BetMGM executives for networking opportunities, resume critiques, and job interview preparation, ultimately aiding in career placement across various fields such as HR, Finance, and Marketing. Established in 1998, the foundation has raised over $69 million for HBCUs, supporting more than 32,000 students. BetMGM, a leading gaming company, seeks to promote diversity and inclusion through this partnership.