Blame it on the pandemic, MGM Resorts posts $247M Q1 loss

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…

BetMGM partners with TopGolf on sports betting and entertainment

In the Wild West atmosphere of the wide open US regulated sports betting market, customer acquisition is the prize that every operator is chasing. With nearly every American consumer on the line, there's not a corner of the country where sports betting operators aren't willing to go to grab them. That's why a recent announcement…

MGM Resorts clocks 53% Q4 revenue drop

MGM Resorts reported an astonishing 53 percent revenue drop in Q4 2020 over Q4 2019 in a recent earnings report. It's another mind-bending number from a year that didn't ease up on the pain even for a moment. But company officials are betting on their sports betting division, BetMGM to save the day and bring…

MGM Resorts looking to absorb Entain in big-time gambling merger

MGM Resorts is looking to absorb UK operator Entain in a mega-deal that's anything but finalized and could well be the kind of deal that becomes more common as the US sports betting market continues to explode. According to published reports in the UK Guardian and Bloomberg, MGM Resorts is offering $11.1 billion (£8.1 billion)…

MGM Resorts talks about casino re-opening and post-COVID life

MGM Resorts CEO Jim Hornbuckle spoke this week with investors about the current state of the company and what casino re-openings might look like in Nevada and Macau. Hornbuckle, who has only been with MGM Resorts since March, painted an optimistic picture and spoke freely of casinos re-opening and travelers walking through their doors, even…

MGM Resorts announces budget cuts and layoffs for 2020

2019 is only days old but workers at MGM Resorts are already looking forward to 2020 with a sense of dread and unease. That’s because the gaming industry giant is preparing to boost profits by as much as $300 million and that boost is going to be funded by as many as 2,000 layoffs. MGM…

NBA Partners with MGM Resorts in Historic Sports Betting Deal

Regulated sports betting in America is starting to produce some very strange bedfellows. Earlier this week, MGM Resorts entered into a $25 million agreement with the National Basketball Association (NBA) that places MGM as the "official gaming partner" of the NBA. It's an interesting deal that provides MGM with branding rights, an official data stream…