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DraftKings, MGM set sights on Brazil's lucrative online gambling market

As Brazil emerges as one of the world's fastest-growing gaming frontiers, heavyweights in the sports betting industry like DraftKings and MGM Resorts are eyeing entry into the country's newly regulated online gambling market. Since loosening its online gambling laws in 2018, Brazil has swiftly become one of the top 10 betting markets…

Industry ・ 14 days

Covers

New Report Confirms iGaming Boosts Revenue For Brick-And-Mortar Casinos

The report shows that online casinos tend to appeal to a moderately younger demographic compared to land-based casinos. iDEA commissioned a study from Eilers & Krejcik Gaming (EKG) to conduct the most comprehensive analysis to date on how online gaming impacts land-based casino performance. The report shows that online casinos have a positive…

Industry ・ 17 February 2024

Fox 5 Vegas

MGM Resorts sets records following big events in Las Vegas

LAS VEGAS, Nev. (FOX5) - During a Feb. 13 earnings call, MGM Resorts International reported record results and a 22% increase in net fourth-quarter revenue. The company's earnings media release began by noting that Las Vegas Strip resorts "achieved record full year and fourth quarter net revenue." "Our Las Vegas Strip Resorts and MGM China set new…

Land-based ・ 14 February 2024

US Bets

Recent Reports Suggest iCasino Cannibalization Fears Overblown

The fear of brick-and-mortar casino cannibalization has long been cited as a reason why states avoid legalizing online casinos. Two recent reports looking at the potential iCasino markets in Indiana and Maryland suggest those fears are overblown. The Innovation Group released a study about Maryland's online casino potential in November of 2023,…

Law ・ 25 January 2024

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The Nevada Independent

Indy Gaming: After $600M renovation, what’s next for Las Vegas Convention Center?

LVCVA CEO Steve Hill said the facility now has more than 15.4 million square feet of meeting space -enough to attract additional events. Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to…

Land-based ・ 10 January 2024

World Casino News

MGM Resorts Unveils Plans for Empire City Casino in New York

Empire City Casino in Yonkers, New York, gets a new face, thanks to MGM Resorts International. The casino will be turned into a luxury destination for all fans of entertainment, becoming an MGM Empire City. The only thing that is needed is a commercial casino license. The new face of the site: The casino will be completely redesigned, and the first…

Land-based ・ 01 December 2023

iGaming Business

MGM reveals plans for full-scale commercial casino in New York

Located in the Yonkers region of New York, the Empire City Casino currently operates as a video lottery racino. The MGM venue offers slots and various table games, as well as harness racing betting and international simulcasting. However, MGM is seeking to transform the facility into a much larger venue with a range of facilities. These would…

Land-based ・ 30 November 2023

CNN

Another labor deal averts strike at 8 more Vegas casinos

The Culinary union has reached a deal with MGM Resorts International covering 25400 members, averting a strike at eight casinos that had been set to start Friday. The deal, announced in a by the union, comes a day after a similar deal was reached with Caesars Entertainment that averted a strike by 10000 other union members at nine casinos operated…

Land-based ・ 10 November 2023

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ABC News

MGM CEO: Tentative deal to avoid strike will be reached with Las Vegas hotel workers

LAS VEGAS -- MGM Resorts International, the largest employer on the Las Vegas Strip, has joined rival Caesars Entertainment in reaching a tentative deal with the Las Vegas hotel workers union to narrowly avert a sweeping strike. Taken together, the pending agreements cover more than 30000 hospitality union workers who had threatened to walk out in…

Land-based ・ 10 November 2023

CNN

Tentative deal reached to avert walkouts at half of Vegas casinos set to strike

A tentative five-year labor deal has been reached between the Culinary union and Caesars Entertainment to avert a potential strike at its nine casinos along the Las Vegas Strip, although nine other casinos still face possible walkouts come Friday morning. The details of the agreement, which was announced in a by the union, are not yet available,…

Land-based ・ 09 November 2023

AP News

Las Vegas hotel workers union reaches tentative deal with Caesars

LAS VEGAS (AP) - The labor union representing tens of thousands of Las Vegas hospitality workers announced Wednesday that it has reached a tentative deal with casino giant Caesars Entertainment, a major breakthrough that could help avert an unprecedented strike at more than a dozen hotel-casinos on the Las Vegas Strip. The announcement came after…

Land-based ・ 09 November 2023

Reuters

Caesars averts strike as casino operator, Las Vegas unions reach deal

Nov 8 (Reuters) - The unions representing hospitality workers in Las Vegas reached a tentative deal with Caesars Entertainment (CZR.O) for a new labor contract covering about 10000 employees on Wednesday, two days before a strike deadline. The negotiations come as unions across industries press employers for better pay and benefits, buoyed by a…

Travel ・ 08 November 2023

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facilitiesnet.com

Las Vegas Casinos Lose $100 Million from Cyberattack

By Dave Lubach, Executive Editor The cyberattack that hit MGM Resorts in Las Vegas in September created a $100 million hit on operations, a Securities and Exchange Commission filing reported. In a third-quarter financial report, the company that operates Mandalay Bay and The Bellagio reported that $10 million of those losses went to costs for…

Land-based ・ 25 October 2023

The Nevada Independent

Indy Gaming: Aristocrat execs say NFL slot machines have scored a touchdown

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz At the Global Gaming Expo (G2E) a year…

Industry ・ 18 October 2023

Review Journal

Global Gaming Expo opens its doors in Las Vegas Monday

When 25000 gaming industry professionals roll into The Venetian Expo Monday for the start of the four-day 22nd edition of the Global Gaming Expo they'll be confronting unprecedented times and issues. Never has the industry been so successful, racking up record revenue total after record revenue total nationwide. But never has the industry appeared…

Industry ・ 10 October 2023

AP News

Data breach at MGM Resorts expected to cost casino giant $100 million

NEW YORK (AP) - The data breach last month that MGM Resorts is calling a cyberattack is expected to cost the casino giant more than $100 million, the Las Vegas-based company said. The incident, which was detected on Sept. 10, led to MGM shutting down some casino and hotel computer systems at properties across the U.S. in efforts to protect…

Incidents ・ 07 October 2023

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ABC News

Cyberattack at MGM Resorts expected to cost casino giant $100 million

The data breach that MGM Resorts is calling a cyberattack is expected to cost the casino giant more than $100 million ByWYATTE GRANTHAM-PHILIPS AP business writerOctober 6, 2023, 11:06 AM NEW YORK -- The data breach last month that MGM Resorts is calling a cyberattack is expected to cost the casino giant more than $100 million, the Las Vegas-based…

Incidents ・ 07 October 2023

NBC News

Cyberattack cost MGM Resorts about $100 million, Las Vegas company says

The criminal cyberattack on MGM Resorts in Las Vegas last month resulted in the company's losing around $100 million, it said in a filing Thursday evening with the Securities and Exchange Commission. The admission is a rare insight into the giant sums that major companies can lose when they fall victim to significant hacks. MGM, whose prominent…

Land-based ・ 06 October 2023

The Nevada Independent

Need for speed: Off-Strip casinos find ways to participate in F1 weekend

Ellis Island, Palms take creative approaches with hotel room packages and customer incentives during November's Las Vegas Grand Prix. Unlike its Las Vegas Strip neighbors, Ellis Island Hotel and Casino doesn't have high-end luxury suites among its 300 hotel rooms. There isn't a high-limit gaming lounge or a baccarat table inside the small casino…

Land-based ・ 24 September 2023

GGRAsia

Japan anonymous crime tips system to cover online gambling

Japan's National Police Agency will widen the scope of its anonymous crime reporting system from October 1 to include tips on operators of illegal gambling websites. The move comes as the National Police Agency strengthens its countermeasures against online gambling. The police said on Tuesday it would also raise the maximum reward for an anonymous…

Incidents ・ 15 September 2023

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MGM Launches Online Gambling In The U.K.

MGM Resorts International announced the launch of its BetMGM iGaming and online sports betting brand in the United Kingdom. The Las Vegas-based casino operator said the launch marks the "kicking off MGM Resorts' strategy of expanding the BetMGM brand into international markets." There are various forms of legal online gambling in the United…

Industry ・ 27 August 2023

The Nevada Independent

Indy Gaming: Where will Oakland A’s play before Las Vegas ballpark is built?

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz The Oakland Athletics will still be the…

Industry ・ 23 August 2023

Review Journal

Oakland A’s Las Vegas ballpark update: Bally’s on hold

While many in Las Vegas are thrilled with the prospect of Major League Baseball arriving here by opening day of the 2028 season - even MGM Resorts International is talking about making the MGM Grand more welcoming to baseball fans - it seems one of the key entities in the process is in a holding pattern of its own making. Bally's Corp., based in…

Sports ・ 17 August 2023

Card Player

Marriott, MGM Form Online Gambling Marketing Deal

Marriott International has entered into a loyalty marketing agreement with BetMGM, MGM Resorts International's online gambling and sports betting joint venture. Marriott Bonvoy will become BetMGM's exclusive hospitality loyalty program partner in the U.S. and Canada. Under this agreement, Marriott and BetMGM will collaborate to provide Marriott…

Land-based ・ 19 July 2023

The Nevada Independent

Indy Gaming: MGM’s $10 billion project in Osaka approved by Japan as the country’s first casino

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz More than a decade ago, Nevada's major…

Industry ・ 20 April 2023

CoStar

MGM Resorts' Integrated Resort in Osaka Set To Be Japan's First Casino

With the certification of its area development plan, MGM Resorts International has full regulatory approval for its $10 billion integrated resort in Osaka. The approval from Japan's Ministry of Land, Infrastructure, Transport and Tourism allows the company's regional operations, MGM Resorts Japan, to move forward with its partners to finalize…

Industry ・ 17 April 2023

8 News Now

MGM Resorts Japan close to finalizing $10B casino

LAS VEGAS (KLAS) - Japan approved a plan Friday to build its first casino, a $10 billion resort on the island of Osaka. According to MGM Resorts International, the approval paves the way for MGM Japan and its joint-venture partner ORIX Corporation to finalize agreements on construction. "It is an honor to be selected by the Government of Japan to…

Land-based ・ 15 April 2023

Review Journal

MGM Resorts approved to build casino resort in Osaka, Japan

MGM Resorts International has received official approval to build a casino resort in Japan. The company announced Friday that Japan's Ministry of Land, Infrastructure, Transport and Tourism has officially certified its Area Development Plan. "It is an honor to be selected by the Government of Japan to develop a tourism project of this scale," MGM…

Land-based ・ 15 April 2023

Review Journal

Nevada casino smoking ban not likely; Atlantic City’s nonsmoking push continues

Table games dealer Nicole Vitola waited nearly 20 years to breathe easier while working at Borgata casino in Atlantic City. When the COVID-19 pandemic hit three years ago and smoking indoors was temporarily banned, she no longer saw large clouds of smoke but a casino filled with players. "In my eyes, there was no way they'd bring back smoking,"…

Land-based ・ 07 March 2023

Review Journal

Nevada casino smoking ban not likely; Altantic City’s nonsmoking push continues

Table games dealer Nicole Vitola waited nearly 20 years to breathe easier while working at Borgata casino in Atlantic City. When the COVID-19 pandemic hit three years ago and smoking indoors was temporarily banned, she no longer saw large clouds of smoke but a casino filled with players. "In my eyes, there was no way they'd bring back smoking,"…

Land-based ・ 05 March 2023

The Nevada Independent

Indy Gaming: Expanded multi-state online gaming may not benefit Nevada

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz The inclusion of Michigan into the…

Industry ・ 23 February 2023

iGaming Business

MGM Resorts continues winning streak in Las Vegas

In a trading update for the period ending 31 December 2022, the gaming group said it generated consolidated net revenues of $3.6bn (€3.35bn/£2.98bn), an increase of 18% compared to the prior year quarter. This featured net revenues of $2.3bn from its Las Vegas Strip properties, which was up 27%. The increase was in part due to the addition of…

Land-based ・ 09 February 2023

The Street

MGM Sells a Notorious Piece of the Las Vegas Strip

Most Las Vegas Strip deals are splashy with the land purchase sort of kicking off the publicity cycle for whatever massive casino, resort, or attraction might someday get built on the property. That's essentially what Houston Rockets owner Tillman Fertitta has done. The billionaire, who also owns the Golden Nugget on Fremont Street, purchased land…

Land-based ・ 31 December 2022

Northern Nevada Business Weekly

Tribal owner of Hard Rock now running Mirage in Las Vegas

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Dec. 19, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole Tribe,…

Land-based ・ 28 December 2022

Tampa Bay Times

Florida-based Hard Rock now running Mirage on Vegas Strip

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole Tribe,…

Land-based ・ 27 December 2022

9 News

Tribal owner of Hard Rock now runs Mirage

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole Tribe,…

Land-based ・ 21 December 2022

KOLO

Tribal owner of Hard Rock now running Mirage on Vegas Strip

LAS VEGAS, Nev. (AP) - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole…

Land-based ・ 21 December 2022

CBS News

Florida-based Hard Rock International now running iconic Mirage resort in Las Vegas

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Hard Rock International, owned by the Seminole Tribe, said it plans to…

Land-based ・ 21 December 2022

Fox 5 Vegas

Tribal owner of Hard Rock now running Mirage on Las Vegas Strip

LAS VEGAS (AP) - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole…

Land-based ・ 20 December 2022

Review Journal

Three Las Vegas companies receive Macau licensing extensions

Las Vegas Sands Corp. will tear a page out of the Las Vegas playbook when it invests $3.5 billion over the next decade in launching restaurants and nongaming tourist attractions to attract international visitors there, the company announced Monday. It plans to develop several new restaurants and introduce international culinary concepts to support…

Industry ・ 20 December 2022

The Street

Las Vegas Casinos Learn Key Covid Mask Decision

The National Football League draft felt as if Las Vegas -- specifically Caesars Entertainment (CZR) - Get Free Report and MGM Resorts International (MGM) - Get Free Report Las Vegas Strip properties -- officially put the covid pandemic in the rear-view mirror. Casinos were packed, the Strip was actually closed to cars in order to accommodate the…

Land-based ・ 12 December 2022

CNN

Gambling surged to new records last year

Here's more proof that the house always wins: In 2021, America's gaming industry had its highest-grossing year ever. Again. The industry rolled in $53 billion in revenue last year - breaking the previous industry record by more than 20% registered in 2019, according to the American Gaming Association. Last year's record also shattered 2020 levels,…

Industry ・ 30 November 2022

The Street

Another Huge Las Vegas Strip Casino/Hotel Project Moves Closer

Owning a Las Vegas Strip casino has become a bit like buying a professional sports franchise. There are only so many of them to go around and few ever come up on the open market, Many of the properties on the famed 4.2 mile stretch of road are owned by Caesars Entertainment (CZR) - Get Free Report and MGM Resorts International (MGM) - Get Free…

Land-based ・ 30 November 2022

The Nevada Independent

Indy Gaming: Caesars pulls the plug on its three-year plan to sell a Strip casino

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Caesars Entertainment CEO Tom Reeg wanted…

Sports ・ 09 November 2022

motorsportweek.com

F1 brushes off ‘casino whale’ Las Vegas GP ticket prices

Formula 1 has dismissed suggestions that fans will be priced out of attending the Las Vegas Grand Prix in 2023 due to steep ticket prices. Tickets for the inaugural event went on sale last week, starting from as low as $500, however they rose to $10000 for a Skybox Hospitality pass. Earlier this year, CEO of MGM Resorts Bill Hornbuckle suggested…

Travel ・ 07 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

Review Journal

Mask mandate lifted in Nevada casinos

Las Vegas casinos moved swiftly after Gov. Steve Sisolak announced the immediate end of Nevada's indoor mask mandate Thursday morning, taking down signs that had stood as a reminder to guests to keep their faces covered. "It's really an exciting day. It's hard to believe that it's been almost two years since we started this process," Stephen…

Covid ・ 31 October 2022

The Street

Forget Monkeypox: Las Vegas Strip Has a 'Tripledemic' Problem

While Las Vegas has largely recovered from the covid pandemic, some parts of business along the Las Vegas Strip remain vulnerable. People have been coming back, and revenue for the large Las Vegas Strip operators has been strong, but it's all a little tenuous as people and companies remain sensitive to any possible health concerns. Sentiment turned…

Land-based ・ 27 October 2022

The Street

An Iconic Las Vegas Casino is Reopening Off the Strip

Las Vegas has been built around iconic names and brands. You have your Las Vegas Strip leaders Caesars Entertainment (CZR) and MGM Resorts International (MGM), which each own multiple storied casino properties. But Vegas' icons include people (Wayne Newton, Penn & Teller, and, of course, Carrot Top to name a few) as well as shows - everything from…

Land-based ・ 26 October 2022

Forbes

The Big Gamble: Inside The Battle to Operate A Casino In New York City

N ew York has begun the formal process to license up to three casinos in and around the city's five boroughs. And the billionaire-backed gambling companies and real estate developers are going all in to bring one to Manhattan. Building Las Vegas-style casinos in New York City is a seismic shift in the gaming industry. The state already has four…

Gaming Authorities ・ 21 October 2022

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The Nevada Independent

Indy Gaming: Slot company booths teeming with activity at G2E

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz The giant football helmet adorned with the…

Gaming Authorities ・ 19 October 2022

Casino Reports

Empire City Casino Aids Local Non-profits

Last week, Yonkers' Empire City Casino once again proved its social responsibility toward the local economy. The MGM Resorts' casino donated over US$102000 to eight local non-profit organizations via its employee and guest-funded Community Grants Program. And some of the recipients include Catholic Charities of the Archdiocese of NY, Greyston…

Religion ・ 29 September 2022

Card Player

Las Vegas Casino Gives $27M In Worker Bonuses After $1.6B Sale

The U.S. economy appears to be on the decline, but a Las Vegas casino still awarded employee bonuses as part of a soon-to-be-completed $1.6 billion sale. The Cosmopolitan of Las Vegas on Wednesday gave more than 5000 of its workers each a $5000 cash bonus, for a total bonus payment of about $27 million. The current owner of the casino is Blackstone…

Land-based ・ 07 September 2022

The Sports Geek

MGM Clears Regulatory Hurdles in LeoVegas Takeover

MGM Resorts International has secured all the necessary regulatory and government approvals to proceed with its purchase of online gaming operator LeoVegas. In a statement, MGM said: But although the regulatory approvals have been secured, the other stipulations and requirements in MGM's offer still apply. The acceptance period for the offer which…

Travel ・ 24 August 2022

Gwinnett Daily Post

MGM Doubles Down on Las Vegas Strip Casino Bet

Buying the Cosmopolitan resort casino was only one piece of making it part of the company's Las Vegas portfolio. Nothing happens quickly on the Las Vegas Strip. That makes sense when you're talking about a very crowded 4.2-mile stretch that's home to numerous megaresorts all battling for the same customers. Building a new project in a city where…

Land-based ・ 22 August 2022

The Street

MGM Makes a Big Casino Move on the Las Vegas Strip

Nothing happens quickly on the Las Vegas Strip. That makes sense when you're talking about a very crowded 4.2-mile stretch that's home to numerous megaresorts all battling for the same customers. Building a new project in a city where the labor market has gotten very tight, the cost of construction materials has gone up, and working conditions are…

Land-based ・ 22 August 2022

The Street

Iconic Las Vegas Strip Resort Casino Likely to Shut Down

A long list of iconic (and not-so-iconic) names have come and gone on the Las Vegas Strip. While the current lineup of Caesars Entertainment (CZR) and MGM Resorts International (MGM) casinos has been relatively stable, that has not always been true on on the Strip and in the greater Las Vegas-area. In recent years, the Hard Rock and even a WWE…

Land-based ・ 16 August 2022

Review Journal

Macao casino relicensing occurring as region recovers from shutodown of properties

Macao, the most lucrative casino gaming market in the world since 2006, is taking a page from an old Strip playbook. Remember those efforts to draw families to Las Vegas in the 1990s? Casino companies across the valley built thrill rides, roller coasters and Strip-front entertainment to attract audiences to their resorts. That's what's in store for…

Strategy Guide ・ 14 August 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

The Nevada Independent

Indy Gaming: Bally’s says it will close purchase of Tropicana Las Vegas next month

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz More than a year after announcing a deal…

Valentine's Day ・ 10 August 2022

PYMNTS

Taken a Beating on Bitcoin? Try a Trip to Vegas

What's highly resistant to 40-year high inflation and malingering COVID-19 (and now monkey pox) fears? The idea of winning money, of course, explaining the 2022 boom in casino gambling. With cryptocurrencies in tatters after months of hammering by pessimists (and possibly realists), those who bet big on bitcoin have watched those wagers weaken from…

Crypto ・ 06 August 2022

The Nevada Independent

Study: States without online gaming losing out on ‘billions in tax revenue’

A study commissioned by gaming equipment provider and developer Light & Wonder found that expanding legal online casinos to additional states could produce annual revenue of more than $30 billion with tax revenue of $6.35 billion. The report, produced by VIXIO GamblingCompliance, looked at the potential financial results if internet gaming -…

Finance ・ 05 August 2022

The Street

A Las Vegas Strip Icon (and an Iconic Casino) Near Their Final Days

Every Las Vegas icon someday falls. Sometimes a classic casino or attraction meets a spectacular end -- with an implosion as a sort of a grand send-off. In other cases, a property falls into disrepair only to be quietly shuttered until a new owner comes around. The Las Vegas Strip has seen legendary names go away and new ones arise from their…

Land-based ・ 21 June 2022

The Street

Las Vegas Casinos Get Key Covid Mask Decision

The National Football League draft felt as if Las Vegas -- specifically Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report and MGM Resorts International (MGM) - Get MGM Resorts International Report Las Vegas Strip properties -- officially put the covid pandemic in the rear-view mirror. Casinos were packed, the Strip was actually…

Covid ・ 15 June 2022

The Street

Caesars, MGM, Las Vegas Strip Get Surprising Good News

It started with March Madness and continued through the National Football League (NFL) Draft leading into what looks like a potentially record-setting summer. Las Vegas turned the corner on the covid pandemic and saw visitors flock to the Las Vegas Strip hotels operated by Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report,…

Land-based ・ 13 June 2022

The Street

MGM Closes Las Vegas Strip Deal, Sells Another Casino

Finding the exact right mix of properties on the iconic Las Vegas Strip has been an ongoing challenge for both MGM Resorts International (MGM) - Get MGM Resorts International Report and rival Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report. Both companies need the right balance of value, mid-tier, and upper level properties…

Land-based ・ 10 June 2022

World Casino News

Insider trading claims prompt LeoVegas AB investigation

Prominent online casino and sportsbetting operator LeoVegas AB has announced that it is cooperating with the Swedish Economic Crime Authority as the government agency investigates multiple allegations of insider trading. The Stockholm-headquartered firm is listed on the Nasdaq Nordic bourse and used a short Tuesday press release (pdf) to declare…

Incidents ・ 08 June 2022

Yogonet

Boyd's CEO eyeing national online expansion; says Nevada iGaming legalization could take up to a decade

Boyd Gaming's Q1 earnings conference call in April, the company's CEO, Keith Smith, predicted it could take up to eight more years for Nevada to legalize online casino gaming. However, he made it clear that he believes the activity will expand beyond the six states that currently offer real-money internet versions of slot machines and table games…

Industry ・ 02 June 2022

The Street

Doomed Las Vegas Strip Icon May Have a New Path to Survival

When MGM Resorts International (MGM) - Get MGM Resorts International Report sold the Mirage to Hard Rock International for $1 billion, it was clear that huge changes would be coming to the iconic Las Vegas Strip resort. The new owner said that it planned to build its signature guitar hotel on the property. To do that, the company had to find the…

Land-based ・ 27 May 2022

World Casino News

The Cosmopolitan of Las Vegas is under new management

American casino operator MGM Resorts International has announced that it is now running the prestigious The Cosmopolitan of Las Vegas property following the completion of an around $1.62 billion deal with The Blackstone Group Incorporated. The Las Vegas-headquartered firm used an official Tuesday press release to detail that the arrangement forms…

Industry ・ 18 May 2022

Fox 5 Vegas

MGM Resorts officially takes over Cosmopolitan of Las Vegas

LAS VEGAS, Nev. (FOX5) - MGM Resorts International announced Tuesday the closing of its transaction with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas for nearly $1.7 billion in cash. The move adds another strip casino to the MGM Resorts' portfolio. MGM Resorts entered into a 30-year lease agreement, with three 10-year…

Travel ・ 18 May 2022

Review Journal

Cosmopolitan Las Vegas now an official MGM Resorts property

The Cosmopolitan of Las Vegas officially became an MGM Resorts International property Tuesday after the company closed its $1.625 billion deal with the Blackstone Group. The closing has been anticipated for months and picked up steam after three regulatory bodies - the Nevada Gaming Control Board, the Nevada Gaming Commission and the Federal Trade…

Travel ・ 18 May 2022

Bangkok Post

Casinos Just Had Their Best Month Ever

Gambling industry reports record $5.31 billion in revenue for the month of March Gamblers spent $8.19 billion on slot machines during the first quarter, a 19% increase from the same period a year earlier, according to the American Gaming Association. (Photo: AFP) Gamblers, eager to get back to slot machines and blackjack tables, have shrugged off…

Gaming Authorities ・ 14 May 2022

Northern Nevada Business Weekly

Caesars spinoff VICI closes on big Vegas Strip property deal

FILE - A plane takes off from Harry Reid International Airport near casinos along the Las Vegas Strip, on Sept. 29, 2021, in Las Vegas. Caesars Entertainment spinoff VICI Properties said April 29, 2022, that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. The deal was first announced last…

Travel ・ 12 May 2022

The Nevada Independent

With Cosmopolitan sale nearing, Blackstone still has money on Vegas

Blackstone Group's time as a Strip casino operator is drawing to a close, but that doesn't mean the New York-based investment conglomerate is done with Las Vegas. Through its Blackstone Real Estate Investment Trust (REIT), the company will continue to own the land and buildings associated with four Strip properties operated by MGM Resorts…

Gaming Authorities ・ 12 May 2022

The Street

Las Vegas Strip Losing Iconic Casino Attraction

Las Vegas Strip casinos offer so much more than hotel rooms, casinos, restaurants, and shows. The massive properties owned by companies including MGM Resorts International (MGM) - Get MGM Resorts International Report, Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report, Wynn Resorts (WYNN) - Get Wynn Resorts, Limited Report, and…

Land-based ・ 11 May 2022

Asgam

MGM Resorts makes offer to acquire European online casino firm LeoVegas

MGM Resorts International has announced commencement of a public tender offer to acquire 100% of the shares of Swedish online casino firm LeoVegas AB. According to details released on Monday, the offer forms part of MGM's efforts to expand its global presence and further enhance development of its digital gaming and sports betting ambitions. The…

Travel ・ 02 May 2022

Review Journal

New York casino licenses spur interest from local companies, Strip operators

Several Las Vegas resort companies are expected to vie for a license to open a casino in or near New York City. When New York Gov. Kathy Hochul and state legislative leaders fast-tracked the licensing of new casinos last week, they revived interest in the state's expansion of casino gambling in one of the most densely populated areas in the…

Gaming Authorities ・ 14 April 2022

The Nevada Independent

Indy Gaming: Aristocrat Americas president sees convergence with online and casinos

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Tom O'Brien returned to Aristocrat…

Sports ・ 06 April 2022

The Street

MGM CEO Says One Big Thing Has Helped Las Vegas Casino Business

Las Vegas used to be off-limit to most major league sports due to fears over how athletes and the potential to place bets might mix. That has changed as sports betting has become legal in multiple states, making its risks to the integrity of games no longer a Las Vegas problem, but more or less a national one. That has opened the door for Sin City…

Land-based ・ 29 March 2022

The Street

Las Vegas Strip Welcomes Back Event That Put the Sin in Sin City

Las Vegas has already begun its comeback from the pandemic. Executives at both Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report and MGM Resorts International (MGM) - Get MGM Resorts International Report have said that booking trends have picked up, and anecdotal online evidence suggests a busy March Madness season at casinos both…

Religion ・ 26 March 2022

iGaming Business

MGM enhances RG efforts for US Problem Gambling Awareness Month

As part of the gaming group's "next evolution", they will be proactively promoting responsible gaming with customers through a set of comprehensive tools both in casinos and online. The announcement follows MGM's continued activity with gambling awareness initiatives, having joined the American Gaming Association (AGA) as official partners of its…

Gambling Addiction ・ 02 March 2022

The Street

Las Vegas Hotels, Casinos Try to Move Past the Pandemic

Aside from the cruise industry, Las Vegas may have been hit harder by the Covid pandemic than any other business segment. Tourism stopped. Conventions were canceled and international travel shut down as the world tried to contain the virus. Las Vegas only shut down for a short period, but when it reopened, the city's famous casinos dealt with mask…

Covid ・ 21 February 2022

CBS Detroit

Gambling Brings In $53 Billion, Surging To New Records Last Year

Covid ・ 17 February 2022

Sportsbook Wire

Las Vegas casinos where you no longer need to mask up

Nevada ends mask mandate, effective immediatelyNevada is rescinding requirements for people to wear masks in public, becoming the latest state in the U.S. to lift restrictions imposed to limit the spread of coronavirus (Feb. 10) CARSON CITY, Nev. - The masks are coming off (again). Nevada Gov. Steve Sisolak on Thursday announced the state would no…

Land-based ・ 11 February 2022

Online Poker Report

NY Assemblyman Expects Online Gambling To Be On The Table In 2022

Online poker may be in New York's future, or at least on the table. The good news comes via PlayNY, which is part of the same network as Online Poker Report. PlayNY interviewed New York State Assemblyman J. Gary Pretlow, D-Mt. Vernon. Asked about online poker, he said: "That's in the mix. It's not going to come right now. Sen. [Joe] Addabbo and I…

Politics ・ 15 January 2022

Vegas Slots Online

MGM Tops VSO US Gambling Industry Winners of 2021 List

Industry ・ 04 January 2022

Capital

MGM agrees to sell Mirage Casino to Hard Rock for $1bn

MGM Resorts International (MGM) agreed this week to sell operations of its Mirage Casino to Seminole Gaming subsidiary Hard Rock International for $1.075bn (£810.5m), marking the latest shuffling of ownership along the resurging Las Vegas Strip. No real estate will change hands in the deal and the $1.075bn will go in cash to MGM, which purchased…

Travel ・ 16 December 2021

WKOW

MGM is selling Mirage casino: 'We have enough of Las Vegas'

MGM Resorts is putting the Mirage resort and casino in Las Vegas up for sale, ending a 21-year ownership of one of the strip's most famous properties. The company made the announcement in its earnings call late Wednesday, explaining to analysts that it doesn't want to invest more money into the 32-year-old property best known for its exploding…

Travel ・ 14 December 2021

Card Player

MGM Resorts Sells Las Vegas Strip Casino To Seminole Tribe For $1.08 Billion

MGM Resorts announced that it is selling one of the original mega-resorts on the Las Vegas Strip to the company owned by the Seminole Tribe of Florida for just shy of $1.1 billion. According to a report from USA Today, the Las Vegas-based gaming giant announced that it is selling the Mirage to Hard Rock International for $1.08 billion. Once the…

Travel ・ 14 December 2021

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

Market Watch

MGM Resorts to Sell Mirage Hotel & Casino Ops to Hard Rock Intl for $1.08B

MGM Resorts International said it will sell the operations of The Mirage Hotel & Casino to Hard Rock International for $1.08 billion. Under terms of the deal, MGM Resorts will retain The Mirage name and brand and license it to Hard Rock, royalty free, for up to three years. Hard Rock said it plans to build an iconic guitar-shaped hotel. Hard Rock…

Travel ・ 14 December 2021

KTVZ

Casino stocks are looking like a big gamble

By Paul R. La Monica, CNN Business So much for the house always winning. Casino stocks have had a brutal year. Penn National Gaming, which operates more than 40 US gambling locations, has plunged 40% this year. That makes Penn, which also owns a 36% stake in Dave Portnoy's Barstool Sports betting and entertainment company, one of the worst…

Finance ・ 01 December 2021

Review Journal

Las Vegas casino investors wagering on comeback

When driving the Strip, walking its sidewalks or navigating its casinos, there is no mistaking it: America's rowdy gambling mecca is crammed with tourists again. And even though visitor volume remains below pre-pandemic levels, and the coronavirus outbreak has by no means been stamped out, casino investors are betting big that Las Vegas is back on…

Land-based ・ 23 November 2021

Online Poker Report

Evolution's Single Operator Live Dealer Tables Coming To Michigan

Michigan online gamblers now get to pick their favorite brands for live dealer games. At 11 a.m. tomorrow, several online casino operators working with studio provider Evolution Gaming will be able to secure a separate table for their own players. Until now, the same dealer would often be serving customers from several different operators playing…

Live Gambling ・ 08 November 2021

The Nevada Independent

A buyer’s market: Vegas Strip casinos a hot commodity

High-profile Las Vegas Strip resorts aren't put up for sale every day. Last week, however, Caesars Entertainment and MGM Resorts International, the Strip's two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino. In a year that has seen more than $30 billion in announced mergers and acquisition…

Covid ・ 08 November 2021

Poker News Daily

MGM Resorts International to Sell The Mirage in Las Vegas

The landscape of the Las Vegas Strip will continue to change, as MGM Resorts International has said it is looking to sell The Mirage. During the company's quarterly conference call on Wednesday, CEO Bill Hornbuckle said that the company feels it has enough exposure on The Strip. "As such, we are currently in the early stages of a process to sell…

Travel ・ 08 November 2021

Big News Network

MGM Resorts to sell Mirage casino in Las Vegas

Robert Besser 8th November 2021, 02:21 GMT+11 LAS VEGAS, Nevada: MGM Resorts has announced plans to hand over the operations of its Las Vegas reosrt, the three-decade-old Mirage resort and casino, to another group as part of an expected sale. During a quarterly earnings conference call, MGM made the announcement about the sale on November 3, while…

Travel ・ 07 November 2021

Casino City Times

Casino City’s Friday Five: Building and selling casinos

This week's gambling news has a big story with the announcement that a major Las Vegas Strip casino resort will be sold. Before getting into those details, we have some other top stories to cover as well. We also have a new casino coming to Missouri, table games back at a Wisconsin property, Caesars sports betting live in Louisiana and a major…

Sports ・ 05 November 2021

Hospitality Ireland

MGM To Sell Mirage Casino

MGM Resorts is putting the Mirage resort and casino in Las Vegas up for sale, ending a 21-year ownership of one of the strip's most famous properties. The company made the announcement in its earnings call late Wednesday, explaining to analysts that it doesn't want to invest more money into the 32-year-old property best known for its exploding…

Travel ・ 05 November 2021