Mgm Resorts - MGM STOCK NEWS

MGM Resorts International has expanded its partnership with PLAYSTUDIOS by adding MGM Springfield to its playAWARDS loyalty platform. This addition allows players to redeem loyalty points earned in PLAYSTUDIOS' mobile games for rewards at MGM Springfield, which features various dining options. The partnership, now in its eighth year, aims to enhance player engagement and experiences, especially as MGM continues to roll out new resorts. Redemptions began on January 8, 2021, although some offerings remain limited due to pandemic guidelines.

BetMGM has launched its sports betting and iGaming app in Michigan, offering a range of betting options and exclusive benefits tied to MGM Grand Detroit and other MGM Resorts properties. The app features customizable betting options and a variety of casino games. The launch follows partnerships with the Detroit Lions and Detroit Red Wings. BetMGM is now available in nine states for mobile sports betting and four states for online casino. The platform emphasizes responsible gaming and provides rewards through the M life Rewards program.

BetMGM announced a multi-year partnership with Hockey Hall of Famer Chris Chelios as a brand ambassador. Chelios, a three-time Stanley Cup champion, will engage in fan interactions, marketing campaigns, and public appearances. His involvement coincides with the BetMGM app launch in Michigan on January 22, enhancing the platform's outreach. Chelios's connection with the Detroit Red Wings, where he won two Cups, solidifies BetMGM's brand credibility. The app operates in eight states, showcasing BetMGM's growth in the sports betting market.

MGM Resorts International (NYSE: MGM) is set to release its financial results for the fourth quarter and full year 2020 on February 10, 2021, after market close. A conference call will occur at 5:00 p.m. ET to discuss results and answer questions. Supplemental materials will be available on MGM’s Investor Relations website. Investors can access the call online or via telephone. A replay will be available until February 17, 2021. This announcement follows MGM's ongoing efforts in expanding its presence and offerings in the entertainment sector.

MGM Resorts International announced it will not make a revised offer for Entain plc after rejecting a previous all-stock proposal at a 0.6x exchange ratio. The company reiterated its commitment to BetMGM, its joint venture with Entain, which aims to operate in 20 states by the end of 2021. MGM emphasized its focus on remaining a global leader in omni-channel gaming and entertainment while exploring strategic opportunities. The company reserves the right to reconsider its stance on Entain under specific circumstances.

MGM Resorts International (NYSE: MGM) is sponsoring the 39th annual Dr. Martin Luther King Jr. Parade on January 18, 2021, marking 11 years of support. This year, the event will be virtual and feature entertainment like DJs and marching bands. MGM employees will also engage in community service projects throughout January, honoring Dr. King's legacy. MGM has a strong presence in the global entertainment industry with 29 hotels and gaming options, including brands like Bellagio and MGM Grand, and aims for sustainable growth.

BetMGM has been recognized as one of the Best Places to Work in 2021 by Glassdoor, ranking in the Top 20 with an impressive rating of 4.8 out of 5 in the U.S. small and medium company category. The award reflects feedback from employees and highlights BetMGM's growth, having tripled its workforce to 350 team members. CEO Adam Greenblatt emphasized the company's commitment to maintaining a supportive culture during remote work.

BetMGM also prioritizes responsible gaming through its newly formed Responsible Gambling Council.

The Washington Nationals have formed a multi-year, exclusive partnership with BetMGM, a premier sports betting and digital gaming company. This collaboration includes the establishment of a BetMGM Sportsbook adjacent to Nationals Park and a mobile betting app for fans. The partnership aims to enhance the fan experience through unique campaigns and co-branding opportunities. BetMGM, operational in 11 states and seeking expansion into Virginia, emphasizes responsible gaming. This agreement solidifies BetMGM's status as the Official Sports Betting Partner of the Nationals.

MGM Resorts International (NYSE: MGM) has received a non-binding letter of intent from its largest shareholder, IAC, expressing support for MGM's proposed acquisition of Entain. The proposal includes an exchange of 0.6 MGM shares for each Entain share, valuing Entain at 1,383 pence per share, a 22% premium. IAC believes the merger will create a global leader in gaming and enhance BetMGM's growth prospects. A partial cash alternative may be offered to Entain shareholders, potentially funded by IAC's additional investment of up to $1 billion.