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Business
August 17, 2021
MGM Resorts Introduces COVID-19 Vaccination as a Condition of Employment
MGM Resorts sent a letter to its employees announcing vaccination against COVID-19 as a condition of employment. The mandate will affect current salaried employees, as well as both salaried and hourly new hires who are not exclusively working from home. MGM Rolls out Vaccination as a Condition of Employment More than 20 US giants, such […]
Business
August 6, 2021
MGM Resorts to Trim Back Its Corporate Structure, Possibly Explore More Online Ops
For those who missed the memo, the US gambling industry is about to embark on a journey into the unknown. There was a time, in the not-so-distant past, that just the mention of “online gaming” caused land-based casino executives’ hearts to skip a beat. Not anymore, though, and changes are coming. MGM Resorts International isn’t […]
Business
August 4, 2021
VICI Properties to Acquire MGM Growth Properties for $17.2B
Portfolio enhancement and diversification at VICI Properties continue as the real estate investment trust (REIT) announced it would acquire MGM Growth Properties. Payment Consideration VICI Properties, MGM Growth Properties (MGP), and MGP’s controlling shareholder, MGM Resorts International, signed a definitive agreement for the acquisition of MGP by VICI for total consideration of $17.2 billion, inclusive […]
Casino
August 4, 2021
MGM Resorts in Search of 3,000 Employees in Vegas
The Silver State is returning to mask-wearing as MGM Resorts forges ahead in the hopes of adding 3,000 people to its workforce. MGM Resorts Looking to Bolster Work Force Las Vegas is under pressure to keep COVID-19 cases under control as the number of infections continues to increase, and Nevada governor Steve Sisolak has already ordered […]
Business
August 3, 2021
MGM Donates Land for Memorial at Site of Mandalay Bay Shooting
MGM has donated two acres for a permanent memorial in honor of the victims of the 2017 Las Vegas mass shooting. MGM Resort International Donates 2 Acres for a Memorial On Monday, Clark County officials announced that MGM Resort International has donated two acres of privately owned land for a permanent memorial honoring the victims […]
Industry
July 19, 2021
MGM Resorts Is Reportedly Considering Another Run on Entain
One of the biggest casino and sportsbook operators in the US, MGM Resorts International, is on the verge of completing a deal it sees as a game-changer. MGM wants to buy out Entain Plc to completely control the jointly-led BetMGM sports betting operator, and is now free to make another bid. Back in January, MGM […]
Industry
July 19, 2021
MGM Resorts Lays Out What It Will Pay For an IR in Osaka, Japan
Over the next 12 months, there should be a lot of forward progress made in Japan’s efforts to bring integrated resorts (IR) to the country. There are realistically only four areas that are in the race for one of the first three locations to be chosen, and Osaka is among them. Should it be selected, […]
Industry
July 13, 2021
MGM’s Strip Sales and CityCenter Purchase Credit Negative
A recent report released by a top credit rating agency is warning investors about potentially increased risks from contingent lease obligations following a sale-leaseback scheme. Increased Credit Risk The report issued by Moody’s Investor Service considers the sale of the real estates of Aria and Vdara casino resorts on the Las Vegas Strip by MGM […]
Industry
July 2, 2021
MGM Buys Half of CityCenter and Strikes a Deal for Aria and Vdara for $3.89B
MGM Resorts International is taking over. It has announced that it will pay Infinity World Development $2.12 billion for a 50% interest in CityCentre, giving it 100% control of the property. The deal will reportedly give the property a valuation of $5.8 billion. Surprising News at a Surprising Time Some real estate market experts are […]
Industry
June 29, 2021
MGM Resorts Flips the Switch On 100-Megawatt Solar Power Array
MGM Resorts International has activated its Mega Solar Array project, spread over 640 acres in the desert north of Las Vegas. MGM Launches a Green Energy Project to Battle Global Warming On Monday, MGM Resorts International turned on the Mega Solar Array project, a 100-megawatt solar array powering 12 Strip properties and 36,000 hotel rooms. […]