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Casino
July 5, 2024
Cosmopolitan’s Identity Membership to Merge with MGM Rewards on July 30
For those who visit the Cosmopolitan Las Vegas often, there is big news coming your way. The resort’s program, Identity Membership and Rewards will be transitioning to MGM Rewards on July 30. For reference, this change comes after MGM Resorts International bought Blackstone’s operating rights for $1.6 billion in September 2019. Cosmopolitan Identity Program Merging […]
Business
July 1, 2024
Analyst Bullish on MGM’s Potential Online Gambling Expansion
A few years ago, in 2022, MGM Resorts International announced the acquisition of LeoVegas, a leading sportsbook brand with a growing presence. Last week, the company confirmed its plans to acquire Tipico’s US platform in order to strengthen LeoVegas’ presence in the country, paving the way for its further growth and expansion. Although financial details […]
Legal
June 28, 2024
FTC Dismisses MGM’s Legal Challenge to Its Investigation
The Federal Trade Commission (FTC) has dismissed MGM Resorts’ challenge to an investigation into its data security protocols. While the casino and hospitality powerhouse alleged due process violations, the FTC filed a motion to dismiss these claims. For context, the FTC issued a civil investigative demand (CID) into the operator’s business in the wake […]
Business
June 26, 2024
MGM Resorts, LVS and Wynn Highlighted in Goldman Sacks’ Sharpe Ratio Picks
Three leading gaming companies made it to the “high Sharpe Ratio” basket comprised by the leading global investment banking, securities and investment management firm, Goldman Sachs. Investors with the firm recently rebalanced the aforementioned basket, as announced in a report released by Seeking Alpha. Currently, the high Sharpe Ratio basket helps identify 50 S&P 500 […]
Business
June 24, 2024
MGM to Acquire Tipico’s US Platform and Empower LeoVegas
Gambling and hospitality powerhouse MGM Resorts International has unveiled the acquisition of Tipico Group’s US assets, in line with previous rumors. The deal will see MGM, through its LeoVegas subsidiary, acquire Tipico’s sportsbook and iGaming platform in the United States. Tipico decided to divest its US assets earlier this year, citing market shifts as the […]
Industry
June 20, 2024
Member of Scattered Spider Cybercrime Group Arrested in Spain
A 22-year-old UK man, suspected to be a pivotal member of the notorious Scattered Spider cybercrime group, was apprehended by Spanish authorities this week, representing a significant breakthrough for international cybercrime investigations. The operation, part of an ongoing investigation by the FBI, underscores the escalating global efforts to prevent attacks similar to those against prominent […]
Casino
June 20, 2024
MGM Resorts and Playtech to Introduce Live Casino Content
MGM Resorts International, the global entertainment and gaming company, confirmed a groundbreaking deal by teaming up with the LSE-listed technology provider for the global gambling industry, Playtech. Announced today, the new activation sees the two leading companies team up to deliver engaging and unique live casino content to online gambling operators across the globe. The […]
Legal
June 19, 2024
FTC Seeks Response from MGM Resorts in Cyberattack Case
Last autumn, MGM Resorts, the leading gaming, entertainment and hospitality giant, became a victim of a cyberattack. Hackers were able to disrupt the operator’s business leading to missing amenities and other inconveniences for the guests in a move that ultimately resulted in $100 million in lost EBITDA for the company. An investigation attempt was made […]
Legal
June 17, 2024
MGM Resorts Dealing with New Class Action Lawsuit
In September 2023, the S&P 500 global gaming and entertainment company featuring national and international locations that create “immersive, iconic experiences,” MGM Resorts, was hit by an unprecedented cybersecurity attack across several US states that prompted the shutdown of computer systems. Now, MGM Resorts is facing a class action lawsuit alleging a series of failures […]
Industry
May 9, 2024
Reward of $1M Offered in Alleged Drink Spiking Incident at Vegas Casino
Dwight Manley, a prominent high roller and real estate executive from California, who also used to be an agent for Denis Rodman back in the 90s, filed a lawsuit against the leading gaming and entertainment company, MGM Resorts. The lawsuit, dating back to November 2022, came after an alleged incident that has taken place at […]
