#Halkyard

West Island

Las Vegas Grand Prix Drives Record MGM Profits

Amid the glitz and glamour that defines Las Vegas, the city's recent Formula One Grand Prix, held on November 18, redefined success for the hospitality and gaming giant MGM Resorts International. For the first time in forty years, the high-octane thrill of F1 racing returned to the vibrant streets of Sin City, leaving an indelible mark on the…

Industry ・ 01 December 2023

Wales 247

The Impact of Online Gambling On the American Gaming Industry

The amount of money made from gambling has gone up 14% since last year. People can now gamble online and watch real people deal cards or spin a wheel for them. This is called "live dealing". Playtech opened a studio near Detroit so people can use their phones to feel like they are in a real casino. It made over $60 billion, which was 14% more than…

Industry ・ 13 March 2023

The Nevada Independent

Increased energy costs cut into Nevada casino company profits in Q3

Caesars Entertainment CEO Tom Reeg knew that during a recent earnings conference call he might field a question or two about how pricier utility expenses in Nevada sliced into the company's cash flow. After all, he had privately discussed the issue weeks earlier. Several analysts said he brought up high energy prices on the Strip during background…

Land-based ・ 23 November 2022

iGaming Business

Vegas boosts MGM Q3 revenue, but Macau leads to $1bn loss

Net revenue was up 26.2% to $3.14bn. The majority of this, at $2.30bn, came from Las Vegas, up 66.6% to a record high. Unlike in 2021, rooms - rather than casino - were the largest source of revenue in Las Vegas. "We're proud to report the best quarter in our Las Vegas Strip history, both on a revenue and adjusted property EBITDAR basis, driven by…

Finance ・ 03 November 2022

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The Street

Las Vegas Strip Gets Key, Surprising Covid News

The Las Vegas Strip seems bigger than life -- an adult theme park built by magic and dreams. It's a place to either escape reality or live a heightened version of it. In many ways, when you get lost in the sea of Caesars Entertainment (CZR), MGM Resorts (MGM), Wynn Resorts (WYNN), and the other titans of that 4.2-mile stretch of land, you feel as…

Covid ・ 12 September 2022

The Street

MGM Shares Plans for Its New Las Vegas Strip Property

The Las Vegas Strip has become some of the hottest real estate on Earth. The 4.2-mile stretch of road has become a battleground where interlopers like Resorts World Las Vegas try to unseat the established market leaders Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report, MGM Resorts International (MGM) - Get MGM Resorts…

Land-based ・ 11 August 2022

Review Journal

Optimism high among casino execs during Las Vegas investor forum

Nevada-based casino companies are poised for a strong 2022, judging by the upbeat comments from executives during an investment forum this week at Wynn Las Vegas. Casino executives said business is approaching or surpassing pre-COVID-19 levels, many companies are showing favorable group business calendars and leisure visitors continue to crowd…

Finance ・ 10 March 2022

The Street

Southwest Has Good News for Caesars, MGM, and the Las Vegas Strip

In a normal year, the Consumer Electronics Show pushes Las Vegas to capacity. Nearly 200000 people attend the convention, filling hotels not just on the Las Vegas Strip but pretty much any property in the city. This year, while CES had an in-person show, many major exhibitors pulled out at the last minute due to a surge in Covid cases. CES…

Land-based ・ 28 February 2022

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News4Jax

Hard Rock International buying The Mirage operation in Vegas

LAS VEGAS - Hard Rock International said Monday it wants to see how a guitar-shaped hotel will play at the heart of the Las Vegas Strip. In what MGM Resorts International CEO and President Bill Hornbuckle called "a significant milestone for MGM Resorts and for Las Vegas," the companies announced MGM Resorts will sell operations of The Mirage to…

Travel ・ 14 December 2021

Golden Casino News

MGM Resorts continues to expand, targets new facility in Las Vegas

MGM Resorts International Considering a New Facility on the Las Vegas Strip. MGM Resorts is growing increasingly enthusiastic about the southern end of the Las Vegas Strip's future. This week, one of its top officials indicated that additional improvements in the area might be imminent. MGM Resorts, which operates most of the Strip's casinos,…

Travel ・ 06 December 2021

Gambling News

Macau Confirms Closure of Suncity VIP Rooms in the City

Macau's gaming regulator has confirmed Wednesday night that all VIP gaming rooms operated by Suncity Group, a junket operator in Macau, have been closed. Alvin Chau, the now-former head of the junket operator, was arrested on Saturday for allegedly organizing illegal gambling, including online gambling, via the Philippines, China, and other…

Jobs ・ 03 December 2021

Vegas Slots Online

MGM Closes Sale-Leaseback of Aria, Vdara in Las Vegas

MGM Resorts International has closed a sale-leaseback arrangement with Blackstone Group for a pair of Las Vegas hotels. The two parties initially agreed on details of the deal in July this year. In a Tuesday statement, the casino operator confirmed that it had purchased Infinity World's 50% interest in CityCenter Holdings. The $2.13bn deal gave MGM…

Covid ・ 04 October 2021

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Vegas Slots Online

MGM Buys Operations of The Cosmopolitan of Las Vegas

MGM Resorts is set to take over the operations of The Cosmopolitan casino resort in Las Vegas after purchasing the rights for $1.625bn from Blackstone. [Image: Shutterstock.com] MGM Resorts International will be taking over the operations of The Cosmopolitan casino resort in Las Vegas. This comes as the private equity firm Blackstone has sold the…

Covid ・ 04 October 2021

World Casino News

CityCenter Las Vegas approval for MGM Resorts International

American casino operator MGM Resorts International has reportedly received unanimous consent from the Nevada Gaming Control Board to complete its planned $2.1 billion purchase of a 50% stake in the CityCenter Las Vegas development. According to a Wednesday from the Las Vegas Review-Journal newspaper, the envisioned proposition would see the Las…

Travel ・ 09 September 2021

Vegas Slots Online

Chicago Mayor Extends Casino Bids Deadline to October

While the perception of Chicago's first downtown integrated-resort casino (IRC) might be hugely attractive to Illinois gamblers, the reality of owning and operating one may be a turnoff for potential investors. Evidence of the Illinois city's struggle to drum up interest in the casino project came on August 6, when Mayor Lori Lightfoot extended a…

Politics ・ 09 August 2021

Las Vegas Sun

10 signs Las Vegas is coming back strong this Memorial Day weekend

In the summer of 2020, during some of the darkest days of the coronavirus pandemic, economic analyst Jeremy Aguero predicted it could take up to three years for Las Vegas to bounce back from its pandemic-induced funk. Nearly 10 months after making those comments before the Las Vegas Global Economic Alliance, Aguero, principal at Applied Analysis,…

UFC / MMA ・ 02 June 2021

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MGM's New CFO Had a Hand in Tanking Caesars

After two failed attempts to acquire online gambling partner Entain, MGM Resorts International named Jonathan Halkyard as its new chief financial officer Thursday. Presumably, MGM, parent company of online sportsbook BetMGM, brought Halkyard on for his experience in mergers and acquisitions in the wake of the rejection of the company's $11 billion…

Industry ・ 19 January 2021