MGM RESORTS INTERNATIONAL - MGM STOCK NEWS

MGM Resorts International has announced a strategic partnership with Playtech to launch a new live casino content offering directly from Las Vegas. The service, branded as 'MGM Live,' will feature live-streamed games including single and double-zero roulette and baccarat from MGM Grand and Bellagio's gaming floors. This initiative is aimed at regulated markets worldwide, excluding the United States.

Future plans include expanding the game portfolio with exclusive Playtech games, TV game shows, and celebrity-hosted trivia. Both companies emphasize their commitment to responsible gambling. This collaboration will enhance MGM's global reach and offer innovative experiences, driven by the trusted brands of MGM and the technological prowess of Playtech.

BetMGM has announced an exclusive partnership with Brian Christopher, a top social media influencer in the slots and casino gaming space. As the new brand ambassador, Brian will feature in live streams and marketing campaigns showcasing BetMGM’s online casino platforms. His social media reach spans 8 million monthly unique viewers and 1.8 million subscribers, with content that recently surpassed 1 billion views. This collaboration will include live streams on various platforms, exclusive experiences, and a strong emphasis on responsible gaming. BetMGM, a leader in sports betting and iGaming with over 2,800 casino titles and multiple awards, continues to prioritize responsible gambling education and tools.

MGM Resorts International has named Viral Nation as its official Influencer Marketing Agency of Record. Viral Nation will collaborate with MGM Resorts to enhance the brand's presence and engagement within the digital landscape.

Sarah Moore, SVP of Marketing for MGM Resorts, expressed confidence in Viral Nation's expertise to elevate the brand and drive engagement, leveraging a portfolio of destinations including Bellagio, ARIA, and MGM Grand. Joe Gagliese, CEO of Viral Nation, emphasized the agency’s focus on Social-First Marketing to craft impactful campaigns.

This collaboration aims to reach new audiences and bolster MGM Resorts' leadership in the global hospitality industry.

iHeartMedia announced the 2024 iHeartRadio Music Festival lineup, presented by Capital One, to be held on September 20 and 21 at T-Mobile Arena in Las Vegas. The event will feature performances by Big Sean, Camila Cabello, Doja Cat, Gwen Stefani, and more, hosted by Ryan Seacrest. Hulu will stream the festival live. Capital One cardholders get presale access starting June 12, and general ticket sales begin June 14 on AXS.com. The festival will also be broadcast across iHeartMedia's radio stations.

Mandalay Bay Resort and Casino announced a $100 million remodel of its 2.1 million-square-foot convention center. The upgrade includes advanced technology, dynamic digital signage, and a new design reflecting Mandalay Bay's tropical theme. Implemented over two-and-a-half years, features include Cat6A Ethernet cabling for enhanced data transmission, digital walls for event messaging, RFID locks on meeting room doors, and over 200 motion detection cameras. The remodel, designed by MGM Resorts International and Dezmotif Studios, also revitalizes exhibit spaces and promotes diverse artists. The project aims to meet modern meeting needs, further solidifying Mandalay Bay as a premier events destination.

MGM Resorts (NYSE: MGM) has surpassed its goal of donating 5 million meals to fight food insecurity by 2025, achieving this milestone ahead of schedule. Since 2016, the company has donated meals through its Feeding Forward program, including over 1.2 million meals in 2023 alone. The program not only donates grants to hunger relief organizations but also rescues unserved food from its operations and redistributes it safely to communities across the U.S. MGM Resorts is committed to combating food waste and food insecurity, with significant donations to organizations in Southern Nevada and beyond. This initiative aligns with the company's broader social impact and sustainability goals.

BetMGM, a leading sports betting and iGaming operator, will sponsor a Nightly Progressive Jackpot during Wheel of Fortune's 'Big Money Week' from May 20-24, celebrating the show's 8,000th episode. Contestants solving the Bonus Puzzle will add the jackpot to their winnings. Additionally, a 'Double Jackpot' wedge on the Wheel could double the jackpot amount. Home viewers can also register online for a chance to win the Nightly Progressive Jackpot.

BetMGM's branding will be prominently featured throughout the episodes, including co-branded graphics and in-show displays. BetMGM has a history of collaborating with the show, including the launch of Wheel of Fortune Online Casino in March 2023. The game show reaches over 21.5 million viewers weekly.

MGM China Holdings reported record-high performance and market share for the first quarter of 2024. The company saw significant growth in gross gaming revenue, mass GGR, net revenue, adjusted EBITDA, and market share in Macau. MGM China maintained a strong financial position with total liquidity of HK$16.9 billion and proposed a final dividend of HK$0.347 per share for the year 2023. The company's focus on customer service and innovation contributed to its outstanding performance and confidence in the future of Macau.

MGM Resorts International reported record first quarter 2024 financial and operating results, with MGM China achieving a 78% increase in Adjusted Property EBITDAR and Las Vegas seeing record net revenues. The strategic growth plan includes share repurchases resulting in a 36% reduction since 2021. The Japan IR venture secured financing, and a partnership with Marriott is driving growth. However, net income decreased compared to the prior year, impacted by a gain on the disposition of Gold Strike Tunica.