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Industry
December 23, 2020
Massachusetts Gaming Commission Approves 25% Capacity Limits for Casinos
Governor Charlie Baker imposes new limitations to combat surge in Covid-19 cases and to prevent full lockdown. Gatherings During the Festive Season Might Lead to a Surge in New Cases The number of customers allowed at MGM Springfield and Massachusetts’ two other casinos will be limited at 25%, the state’s Gaming Commission ruled Tuesday. The […]
Sports
December 19, 2020
BetMGM’s Sports Betting App Goes Live in Pennsylvania
Sports betting and online casino operator BetMGM announced Friday it launched its sports wagering app in Pennsylvania to allow state bettors to take advantage of MGM Resorts’ rewards program and further expand its presence in sports betting jurisdictions nationwide. Excitement for Sports Fans The announcement for the sports betting app going live in the Keystone […]
Business
December 5, 2020
MGM Resorts Shakes Up Corporate Team, Appoints New COO
MGM Resorts International announced Friday major changes in its corporate leadership team while naming long-term executive Cory Sanders as COO. The End of MGM Resorts’ Corporate Reorganization US hospitality and entertainment group MGM Resorts International appointed chief financial officer Corey Sanders to chief operating officer on Friday. Until the company finds a replacement for the […]
Industry
December 4, 2020
MGM Resorts and MGM Growth Properties Announce Redemption of $700 Million Partnership Units
MGM Resorts had $700 million as part of its agreement with MGP to exchange $1.4 billion of the MGP Operating Partnership units owned by MGM Resorts for cash by February 2022. MGM Resorts Left with 53% Stake in MGM Growth Properties On Wednesday, MGM Resorts announced it has reduced its ownership stake in its real […]
Casino
November 21, 2020
MGM’s Mandalay Bay and Mirage to Remain Shut Monday-Thursday
MGM Resorts International is experimenting with operational times, cutting mid-week schedule for The Mirage and Mandalay Bay. Mandalay Bay and Mirage Shut-down during Mid-week The Las Vegas Strip is handling the covid-19 outbreak in a piecemeal way. On the one hand, you have Nevada Gov. Steve Sisolak who tested positive for the novel coronavirus and […]
Business
November 18, 2020
MGM Growth Properties Offers Senior Unsecured Notes for $750M
MGM Growth Properties is looking to raise $750 million of senior unsecured notes, priced at 3.875% and due 2029 at par, the real estate trust announced Tuesday. The offering which was upsized by $250 million from the initial $500 million, is expected to close November 19, subject to customary closing conditions. MGM Resorts’ Redemption Right […]
Business
November 13, 2020
BetMGM Appoints Former MGM Chief Corporate Counsel Hagopian
BetMGM, the sports betting brand of the joint venture of GVC Holdings and MGM Resorts, Roar Digital, announced Thursday a new addition to its executive team, as Andrew Hagopian, former Chief Corporate Counsel of MGM Resorts, is joining as its Chief Legal Officer. Responsible for Legal and Compliance Departments Hagopian, who holds a J.D. from […]
Casino
November 11, 2020
Detroit Casinos Report $101.4 Million Revenue in October, 18.9% Drop Year-on-Year
Aggregated revenue from Detroit’s three casinos totaled $101.4 million while operating at 15% since reopening this summer. October Results Better Than September Detroit’s three casinos reported $101.4 million in revenue in October. Compared with September’s results, revenue increased by 6.7%. Casinos still operate at 15% capacity to limit the spread of Covid-19. Slot machines and […]
Business
November 9, 2020
MGM Springfield Makes Good on $2.3 Million Debt to City Despite Pandemic Impact
MGM Springfield has repaid an outstanding debt of close to $2.3 million to the City of Springfield, Massachusetts, despite having suffered significant losses due to the coronavirus pandemic, the Springfield Republican reports. The complex had owed the sum since April when it paid about $5.5 million, an initial payment from a total of $7,780,376.32 agreed […]
Casino
October 31, 2020
MGM Planning Mid-Week Change of Schedule for Strip Casinos
MGM revealed that it may change the mid-week schedule for some of its Las Vegas Strip casinos. Upon releasing Q3 results, the operator marked a 68% net revenue decrease for the Las Vegas Strip properties when comparing year-on-year results. MGM May Introduce Mid-week Change of Schedule for Some Strip Properties The gaming industry giant MGM […]