MGM RESORTS INTERNATIONAL - MGM STOCK NEWS

MGM Resorts International has struck a definitive deal with VICI Properties and MGM Growth Properties to redeem MGP operating partnership units at $43 each, totaling approximately $4.4 billion. This simplifies MGM's structure and provides over $11.6 billion in liquidity, enhancing shareholder value. The agreement values MGP at $17.2 billion, including $5.7 billion in assumed debt. The lease terms include an initial 25-year term with $860 million annual rent. MGM will retain a 1% stake in VICI, valued at $370 million. The transaction is anticipated to close in H1 2022.

BetMGM announces a partnership with Cheddar News to launch Cheddar Bets, a weekly program exploring the intersection of sports betting and financial markets. The show, premiering on August 19, will air Thursdays at 4:30 p.m. ET and is set to feature insights from BetMGM's oddsmakers. This collaboration positions BetMGM as the Exclusive Sports Betting Partner of Cheddar News, highlighting their commitment to engaging audiences and expanding their content offerings in the sports betting arena.

On July 28, 2021, BetMGM announced the signing of NFL star Marshawn Lynch as a brand ambassador. Lynch, recognized for his remarkable football career, will participate in various marketing campaigns and fan events. His role includes engaging with BetMGM players and appearing in social media content. Matt Prevost, BetMGM's Chief Revenue Officer, emphasized Lynch's impressive impact on football and his celebrity status as key factors in this partnership. BetMGM continues to prioritize responsible gaming education as it expands its services.

Inspired Entertainment has launched its V-Play Plug & Play™ solution at BetMGM, Borgata, and Party Casino in New Jersey. This offering includes a range of virtual sports such as NFL Alumni football, basketball, and soccer. The partnership aims to enhance player experiences and expand Inspired's market presence. With over 40,000 retail channels and availability in 35 countries, Inspired's virtual sports content is recognized globally. The collaboration promises to attract more players, boosting potential revenue for both companies.

MGM Resorts International announces the return of major entertainment acts to Las Vegas, marking a significant step in the city's recovery. The flagship show, "O" by Cirque du Soleil, celebrated its reopening on July 1, 2021, drawing a sold-out audience after a 16-month hiatus. Other high-profile performances include Bruno Mars and Dave Chappelle, enhancing MGM's entertainment lineup. CEO Bill Hornbuckle emphasized the importance of these events in attracting tourists back to Las Vegas.

MGM Resorts International (NYSE: MGM) will announce its second quarter 2021 financial results on August 4, 2021, after market closure. A conference call is scheduled for 5:00 p.m. ET that day, featuring a discussion on the results and a Q&A session. Supplemental materials will be available on the Investor Relations website. A replay of the call will be accessible until August 11, 2021, through specific dial-in numbers.

MGM Resorts International (NYSE: MGM) has announced its definitive agreement to buy Infinity World Development Corp's 50% stake in CityCenter Holdings for $2.125 billion. This acquisition will make MGM the sole owner of CityCenter, enhancing its position on the Las Vegas Strip. The deal includes a valuation of $5.8 billion based on a net debt of $1.5 billion. Additionally, MGM will monetize its Aria and Vdara properties under a separate agreement with Blackstone for $3.89 billion, with a subsequent annual rent of $215 million.

MGM Resorts International has launched a groundbreaking 100-megawatt solar array, marking the largest directly sourced renewable electricity project in the hospitality industry. This array powers up to 90% of MGM Resorts' daytime energy needs for its 13 properties on the Las Vegas Strip, which collectively house over 36,000 rooms. The array features 323,000 solar panels across 640 acres and significantly advances MGM's sustainability goals, including a 50% reduction in greenhouse gas emissions by 2030 and sourcing 100% renewable electricity in the U.S. by 2030.

BetMGM's CEO, Adam Greenblatt, has been recognized as one of the Top CEOs in 2021 in the U.S. Small and Medium Business category by Glassdoor. Greenblatt achieved an impressive ranking of 10th out of 50 with a 98% approval rating from employees. The annual awards highlight leaders who excelled in supporting their teams, especially during the COVID-19 crisis. BetMGM, a leader in sports betting and gaming, was founded in 2018 and is a joint venture between MGM Resorts International and Entain Plc.