MGM Resorts is beefing up its US sports betting portfolio with the acquisition of Tipico US through its subsidiary LeoVegas. It's a move that's aimed at creating a standalone online gambling product that can thrust MGM Resorts into a stronger position in the red-hot US sports betting and online gambling market. Though Tipico never had…
The Las Vegas Grand Prix was a smashing success for Sin City with at least one hotel chain reporting its highest-grossing ever during the event. Though specific numbers were not made available, MGM Resorts’ Chief Financial Officer Jonathan Halkyard told investors recently that, “It was the highest-grossing weekend for us, in hotel revenue, in the…
MGM Resorts is confirming that a "limited number" of customer Social Security Numbers (SSNs) were compromised during a recent cyber attack that had a severe effect on the company's daily operations. The admission that that most sensitive piece of US customer data was breached comes in the wake of a post-attack investigation launched in an…
Caesars Entertainment and MGM Resorts are facing five separate lawsuits in the wake of the recent cyber attack that hobbled operations at both companies. Four of the lawsuits name both companies as defendants while the fifth names only Caesars Entertainment. Though all the lawsuits are likely to be settled long before they ever see the…
MGM Resorts are getting back to normal after a devastating cyber attack severely impacted operations at its properties across the United States. Company officials say that the companies hotels are "operating normally" - which is mostly true. Some key components of casino resort life, such as ATMs and digital door keys, are not actually back…
The casino floors at MGM Resorts across the country went silent yesterday after the company was hit with a massive cyber attack, possibly originating from North Korea. Impact from the attack was particularly noticeable on MGM Resorts guests, who suddenly couldn't access the electronic locks on their room doors or access cash from ATMs, which…
MGM Resorts recently shattered a long-standing taboo when they signed Davante Adams on as their first active National Football League (NFL) athlete brand ambassador. While celebrity endorsements, including former athletes, are commonplace in the gaming world, grabbing a player on the roster of an NFL team is another thing entirely. Adams, who plays wide receiver…
MGM Resorts is a step closer to significantly expanding its global footprint after LeoVegas shareholders overwhelmingly approved the company's $640 million buyout offer. Under the terms of the acquisition deal, LeoVegas shareholders will receive SEK61 ($5.67) for each outstanding share in their possession. That marks a sweet 44 percent premium from the day the deal…
MGM Resorts is making a major move on the global gaming market with the announcement of a $607 million offer to purchase the Swedish operator LeoVegas. The offer, which already has the support of the LeoVegas Board of Directors, would put MGM Resorts in a position to compete in the growing US online casino market,…
MGM Resorts has spent much of 2020 and 2021 in the same tenuous position as every gambling operator with a large portfolio of land-based casinos. That position, unfortunately, was challenging on a good day and horrific in its darkest hours. That position also resulted in their recent announcement that they're down $246.7 million from Q1…
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