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MGM RESORTS INTERNATIONAL - MGM STOCK NEWS

Welcome to our dedicated page for MGM RESORTS INTERNATIONAL news (Ticker: MGM), a resource for investors and traders seeking the latest updates and insights on MGM RESORTS INTERNATIONAL stock.

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

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MGM Resorts International (NYSE: MGM) and BetMGM have announced a unified commitment to responsible gaming, coinciding with Problem Gambling Awareness Month in March. They aim to offer tools and education to assist players in making informed gaming choices. BetMGM will implement a weekly educational series for staff, focusing on problem gambling insights and prevention strategies. Additionally, they are promoting the Eighth Annual Gambling Disorder Screening Day, enhancing resources within the BetMGM app. MGM's GameSense program has been recognized for integrating responsible gaming practices throughout its operations.

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MGM Resorts International has partnered with The Clorox Company as the exclusive provider of disinfectant and hand sanitizing products across over 20 of its properties in Las Vegas and the U.S. Clorox will supply disinfectant wipes and hand sanitizer to enhance guest safety in alignment with MGM's Seven-Point Safety Plan, initiated to prioritize health amid the ongoing pandemic. This collaboration highlights MGM's commitment to providing a safe environment for guests and employees, leveraging Clorox's expertise in cleaning products.

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On March 1, 2021, BetMGM announced its exclusive partnership with Borussia Dortmund, becoming the first U.S. sports betting operator to collaborate with a German soccer club. This partnership includes cross-marketing opportunities, fan engagement via social media promotions, and customer sweepstakes offering exclusive Dortmund prizes. BetMGM aims to enhance its presence as interest in Bundesliga grows in the U.S. Additionally, users can access live matches through the BetMGM app. The initiative highlights BetMGM's commitment to responsible gaming education.

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MGM Resorts International (NYSE: MGM) and Entain plc (LSE: ENT) will host a business update event on April 21, 2021, focusing on their joint venture, BetMGM LLC. The virtual event, starting at 11:00 a.m. EDT, aims to provide insights into the growing U.S. sports betting and iGaming market. BetMGM, a leading player in online gaming, offers exclusive access to MGM's sports betting and online gaming operations, utilizing Entain's advanced technology. Further registration details will be shared prior to the event.

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BetMGM has partnered with Topgolf Entertainment Group to enhance the integrated sports betting experience at select venues. The collaboration will feature BetMGM branding and promotional offers at various Topgolf locations, including Las Vegas and Indianapolis. This partnership aims to attract new audiences and engage consumers through unique entertainment options. BetMGM’s Chief Revenue Officer, Matt Prevost, highlighted the immersive sports betting experiences available to Topgolf guests. Forward-looking statements indicate potential growth challenges in new markets.

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MGM Resorts International (NYSE: MGM) will resume 24/7 operations at Mandalay Bay, Park MGM, and The Mirage starting March 3, reflecting rising travel interest in Las Vegas. This decision follows selective mid-week closures due to low business volumes during the pandemic. CEO Bill Hornbuckle expressed optimism about Las Vegas' recovery and plans to bring employees back as demand increases. Additionally, live entertainment shows will return in February and March under state guidelines. MGM's health and safety protocols remain in effect to ensure guest safety amid COVID-19.

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Mandalay Bay Resort and Casino has signed a multi-year naming rights agreement with Anheuser-Busch to rename its sports venue as the Michelob ULTRA Arena. This partnership will feature various promotions and events, enhancing the guest experience. The arena is a prominent location for live events, including UFC and concert performances. Anheuser-Busch emphasizes its commitment to providing unforgettable entertainment experiences as travel resumes. The venue underwent significant renovations in 2019, improving seating, technology, and amenities.

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On February 10, 2021, MGM Resorts (NYSE: MGM) reported significant financial challenges for Q4 and the full year 2020 due to COVID-19. Consolidated net revenues dropped 53% to $1.5 billion in Q4, leading to a $448 million net loss. Full-year net revenues decreased 60% to $5.2 billion, resulting in a $1.0 billion net loss. Despite these results, MGM noted improvements in Adjusted Property EBITDAR and expressed optimism regarding future recovery. Cash reserves stood at $5.1 billion, with total liquidity of $8.8 billion, indicating some financial stability moving forward.

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On February 4, 2021, Bellagio in Las Vegas revealed new guest room designs, enhancing its luxury hospitality experience. The remodel spans all 2,568 rooms, inspired by nature and light, featuring oversized showers, dual sinks, and built-in closets. The upgrade includes design schemes by The Gettys Group, reflecting the iconic Fountains at Bellagio. This initiative aims to attract discerning travelers as tourism rebounds. The first remodeled rooms will be available from April 2021, with completion expected by summer.

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FAQ

What is the current stock price of MGM RESORTS INTERNATIONAL (MGM)?

The current stock price of MGM RESORTS INTERNATIONAL (MGM) is $34.29 as of December 23, 2024.

What is the market cap of MGM RESORTS INTERNATIONAL (MGM)?

The market cap of MGM RESORTS INTERNATIONAL (MGM) is approximately 10.1B.

What is MGM Resorts International known for?

MGM Resorts International is known for its world-renowned resorts and casinos, luxurious facilities, and exceptional customer service.

How many properties does MGM Resorts operate?

MGM Resorts operates 31 unique hotel and gaming destinations worldwide, including flagship properties on the Las Vegas Strip.

What are some of MGM's recent achievements?

MGM recently received an 'A' for environmental leadership, launched BetMGM in the Netherlands and the UK, and redesigned the Mandalay Bay Convention Center.

Where can I find MGM’s financial performance updates?

MGM's financial results are available on their Investor Relations website. Q1 2024 results will be announced on May 1, 2024.

What is BetMGM?

BetMGM is MGM Resorts' iGaming and online sports betting brand, recently launched in the Netherlands and the UK.

What is MGM's commitment to sustainability?

Through its 'Focused on What Matters' philosophy, MGM is dedicated to sustainability, earning high grades in environmental leadership and water security.

What are MGM's expansion plans?

MGM is expanding globally, with significant projects such as a new resort in Japan by 2030 and international launches of BetMGM.

What are some of the iconic properties operated by MGM?

MGM operates iconic properties like MGM Grand, Bellagio, Mandalay Bay, and more on the Las Vegas Strip.

How does MGM contribute to the hospitality industry?

MGM enhances the hospitality industry with best-in-class hotels, state-of-the-art meetings and conference spaces, and incredible entertainment experiences.

Where can I learn more about MGM Resorts International?

For more information, visit MGM Resorts International's website at www.mgmresorts.com.

MGM RESORTS INTERNATIONAL

NYSE:MGM

MGM Rankings

MGM Stock Data

10.10B
230.02M
22.74%
69.76%
4.62%
Resorts & Casinos
Hotels & Motels
Link
United States of America
LAS VEGAS