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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
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.
BetMGM and Audacy have announced an exclusive multi-year partnership, making BetMGM the official sportsbook of the BetQL Network. This partnership builds upon an existing relationship, expanding BetQL's reach from 2 to 31 markets since its launch in June 2021. The network has seen significant audience growth, including a 575% increase in podcast downloads. BetMGM will feature prominently in programming, including popular shows like 'You Better You Bet'. The BetQL Network broadcasts approximately 100 hours of original content weekly, leveraging Audacy's extensive sports radio presence.
The UNITE HERE Local 54 union in Atlantic City has projected significant financial losses for Caesars Entertainment (CZR) and MGM Resorts (MGM) due to potential strikes. Caesars could face losses of $1 million daily across its three casinos, while MGM's Borgata may see losses of $1.6 million per day. This is based on a projected 25% revenue drop in Q3 2022 compared to Q3 2021. A 96% majority of union members authorized a strike, with deadlines set for July 1 and July 3, 2022. The union demands substantial wage increases amid rising industry profits and labor shortages.
The partnership between BetMGM, Sony Pictures Television, and IGT will launch the Wheel of Fortune Casino in New Jersey, marking North America's first brand-led online casino. This initiative coincides with the show's 40th season anniversary and aims to engage players with real money wagering on iconic Wheel of Fortune slot games. Matt Prevost from BetMGM highlighted the excitement of bringing this experience online, while IGT's Enrico Drago emphasized the brand's legacy in gaming. The launch also includes a focus on responsible gaming through GameSense resources.
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