Deals & M&A
Jefferies highlights per-room earnings at Wynn, Caesars and MGM
The estimates offer investors a company-level comparison of Las Vegas operators’ projected earnings per room.
All news
Reports
Regulation
Lula says Globo resents betting ban as broadcaster holds BetMGM stake
The remarks tie a provisional measure banning online betting to the revenue of licensed operators and their media partners.
Deals & M&A
Springfield seeks open court proceedings in MGM casino sale dispute
The dispute leaves the proposed transfer of MGM Springfield’s operating rights subject to the city’s approval and ongoing arbitration.
Regulation
Nevada Gaming Control Board chair says no plan B if Supreme Court backs prediction markets
Nevada has no fallback plan if the Supreme Court sides with prediction market operators, leaving its stance uncertain.
Enforcement & compliance
PGCB approves MGM Resorts International fine of $50,250
The agreements impose payments on MGM Resorts International and CountR for licensing breaches in Pennsylvania.
Deals & M&A
Bank of America upgrades DraftKings to Buy after 19% monthly decline
Bank of America’s upgrade highlights potentially bottoming earnings expectations and reduced prediction market cannibalisation risk for DraftKings investors.
Regulation
Nevada casinos report $1.26bn gaming revenue for August
The statewide increase gives operators and investors a measure of Nevada's gaming revenue performance in August.
Deals & M&A
MGM and Caesars avoid prediction markets over US casino licence concerns
Casino licensing concerns constrain MGM and Caesars while sportsbook competitors expand into prediction markets.
Deals & M&A
Casino chiefs reaffirm Las Vegas's role in US gambling at G2E
Wynn, MGM and Caesars chief executives reaffirmed Las Vegas's central role in US gambling.
Enforcement & compliance
PGCB fines MGM Resorts $50,250 over late licensing application
MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
Enforcement & compliance
PGCB fines MGM Resorts and CountR more than $100,000 combined
MGM’s $50,250 penalty highlights the financial consequences of a late principal licensing application.
Deals & M&A
People Inc withdraws bid to take MGM Resorts private
MGM Resorts retains its independence after People Inc withdrew its proposal to acquire the remaining publicly held shares.
Deals & M&A
People Inc withdraws MGM Resorts takeover proposal valued above $18bn
People Inc withdrew its bid for MGM shares it did not own, ending a proposed acquisition above $18bn.
Deals & M&A
Orix outlines investment rationale for JPY1.51tn MGM Osaka resort
Orix sees sustained demand and recurring cash potential in MGM Osaka, which MGM Resorts reports remains within schedule and budget.
Regulation
Springfield brings casino obligations case against MGM amid proposed sale
The dispute puts casino development obligations and approval of MGM’s proposed ownership transfer before competing court and arbitration processes.
Regulation
Springfield sues MGM over alleged casino host agreement breaches
MGM faces litigation over alleged host agreement breaches while accusing Springfield officials of obstructing its proposed casino sale.
Deals & M&A
BetMGM and MGM Resorts pledge $320,000 for responsible gambling initiatives
BetMGM and MGM Resorts’ funding supports gambling research, state councils, the 1-800-GAMBLER helpline and the Evive Foundation.
Regulation
Nevada rules require casinos to report cyberattacks within 24 hours
Nevada adopted cybersecurity rules requiring casinos to notify regulators within 24 hours of attacks.
Deals & M&A
BetMGM reports second-quarter revenue of $711m
The update gives investors a second-quarter revenue figure and first-half financial updates.
Deals & M&A
MGM weighs $18bn Diller takeover offer as Q2 revenue hits record
A completed $18bn takeover would reshape MGM's ownership and affect operators, suppliers and investors tied to its Las Vegas and international properties.
Deals & M&A
BetMGM pushes $500m annual EBITDA goal beyond next year
Operators and investors watching BetMGM's profitability timeline face a longer wait for its $500m EBITDA milestone.
Deals & M&A
Nevada regulators approve MGM and Caesars shelf-offering plans
Nevada's approval of shelf offerings matters as both companies face takeover bids to go private.
Deals & M&A
Nevada regulators question proposed People Inc purchase of MGM Resorts
Nevada Gaming Commission members' questions signal regulatory scrutiny of the proposed MGM acquisition.
Regulation
Atlantic City Council weighs PILOT tax break for MGM housing near Borgata
A PILOT extension to non-gaming housing would test whether Atlantic City's casino tax framework can support development beyond gaming sites.
Deals & M&A
People Incorporated bids $18bn for control of MGM Resorts
A change of control at MGM Resorts would affect its LeoVegas iGaming and BetMGM operations, which matter to suppliers and investors.