By SectorWire desk ·
The report said that Atlantic City Council considered extending payment-in-lieu-of-taxes treatment to proposed housing on MGM land beside Borgata. The city’s casino property tax programme is tied to gross gaming revenue.
The proposal would extend the tax arrangement to a non-gaming development on casino-owned land.
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Nevada has no fallback plan if the Supreme Court sides with prediction market operators, leaving its stance uncertain.
The dispute leaves the proposed transfer of MGM Springfield’s operating rights subject to the city’s approval and ongoing arbitration.
BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
The agreements impose payments on MGM Resorts International and CountR for licensing breaches in Pennsylvania.
Bank of America’s upgrade highlights potentially bottoming earnings expectations and reduced prediction market cannibalisation risk for DraftKings investors.
The statewide increase gives operators and investors a measure of Nevada's gaming revenue performance in August.