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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
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MGM Resorts and BetMGM partner with Kindbridge to support problem gambling research and mental health services, with MGM donating $100,000 for a medication trial for veterans with gambling addiction.
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MGM Resorts International (MGM) has been recognized by CDP for environmental leadership, securing a spot on the prestigious A List. This acknowledgment highlights MGM's commitment to sustainability and environmental stewardship, placing them among the top 0.015% of reporting companies globally.
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MGM China Holdings Limited reports record-high performance across segments, with significant growth in market share and margin. The company's financial data for 2023 shows strong recovery in Macau, with impressive increases in daily visitor arrivals and gross gaming revenue. MGM China's net revenue grew by 369% from 2022, reaching HK$24.7 billion, and adjusted EBITDA hit a historical high of HK$7.2 billion, representing 117% of 2019 levels. The company's market share increased to 15.2% in 2023, up from 9.5% in 2019, with improved EBITDA margin of 29.3%. Quarterly performance also showed consistent growth, with fourth-quarter adjusted EBITDA up 16% from the previous quarter. The company maintained a healthy financial position with total liquidity of approximately HK$21.5 billion as of December 31, 2023.
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MGM Resorts International reports record full year and fourth quarter net revenue and Adjusted Property EBITDAR. The company achieved $2.3 billion in share repurchases in 2023, expanded its senior secured credit facility, and saw positive financial growth in Las Vegas Strip Resorts and MGM China.
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Global superstar Bruno Mars debuts The Pinky Ring, a new entertainment lounge in Las Vegas, with an exclusive party and performance featuring celebrity guests like Janelle Monáe, Lady Gaga, and Babyface. The venue promises a glamorous experience curated by Bruno Mars himself.
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BetMGM partners with a major social media platform to integrate live sports betting odds, expanding reach to engaged audience. Users can access betting odds on pro football with plans to include other sports. The partnership aims to enhance user experience and promote responsible gaming.
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BetMGM, LLC reported a strong financial performance for FY 2023, with a 36% year-over-year growth in net revenue from operations, reaching $1.96 billion. The company achieved positive EBITDA in the second half of 2023. It also expanded its presence in four new markets and secured market access with Charlotte Motor Speedway. BetMGM was recognized as Digital Operator of the Year and Online Casino of the Year, among other awards. The company aims to target approximately $500 million of EBITDA in 2026.
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BetMGM, LLC, a leading sports betting and iGaming operator in the U.S., jointly owned by MGM Resorts International and Entain plc, will release an update on its FY 2023 performance. The update will be released on February 8, 2024. MGM Resorts International and Entain Group will also release their Q4 and FY 2023 results on February 13th and March 7th, 2024, respectively.
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BetMGM launches newly designed mobile sports betting app in Las Vegas, offering expanded prop and parlay wager options, live streaming, digital deposits and withdrawals, and rewards connectivity. The app also features Same-Game Parlay+ and integrates responsible gambling education. BetMGM operates in 28 markets with mobile and retail offerings.
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BetMGM, a leading sports betting and iGaming operator, has debuted a star-studded teaser campaign featuring Tom Brady, Wayne Gretzky, and Vince Vaughn for their first-ever Big Game television spot. The campaign aims to put BetMGM front and center during the Big Game and showcases Las Vegas as the company's home. The ads are part of a broader strategy to amplify the brand to various audiences, including hosting events and promotions leading up to the Big Game. BetMGM also emphasizes responsible gambling education as a key focus, providing resources to help customers play responsibly.
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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 $34.16 as of December 20, 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
10.09B
230.02M
22.74%
69.76%
4.62%
Resorts & Casinos
Hotels & Motels
United States of America
LAS VEGAS