Improved pay Members of Culinary Local 226 overwhelmingly approved new five-year contracts with both Caesars Entertainment and MGM Resorts International this week, avoiding possible strike action. Caesars employees voted 99 percent in favor on Monday, while MGM workers did the same on Tuesday. Wynn employees are up next and are expected to hold their vote… Read more »
Long-time VIP A high roller is suing MGM Resorts International, claiming he was drugged while playing at the MGM Grand in Las Vegas in December 2020. A real estate executive and former sports agent from Brea, California, Dwight Manley believes someone put ketamine in his drink while he was gambling in the casino’s private high… Read more »
A matter of timing MGM Resorts International CEO Bill Hornbuckle has confirmed that his company did not pay a ransom to hackers who brought MGM to its knees last month. Speaking at the Global Gaming Expo on Tuesday, Hornbuckle called it “corporate terrorism at its finest.” “It took us (until day three) to figure out… Read more »
Maybe not 100% More than a week after hackers crippled its computer systems, MGM Resorts International says that its “hotels and casinos are operating normally.” In a Tuesday morning statement, Nevada’s largest employer thanked customers for their patience and noted that there could still some “intermittent” issues. “Our resort services, dining, entertainment, pools and spas… Read more »
What would you do if the online game – gambling or otherwise – disconnected you so frequently that it was essentially unplayable? For Sam Antar of New York City, the answer is to just keep on playing. According to Antar, though, MGM Resorts International, its Borgata casino resort, international partner Entain, and online gambling brand… Read more »
One heck of an offer In what would be a combination of gambling giants, MGM Resorts International announced this week that it has offered to purchase internet gambling company LeoVegas AB for $607 million. The total comes from a purchase price of SEK 61.00 per share for the Sweden-based LeoVegas, which would be paid using… Read more »
The landscape – and skyline – of Las Vegas will soon change, as MGM Resorts International has agreed to sell the operations of The Mirage Hotel & Casino to Hard Rock International for $1.075 billion in cash. VICI Properties, Inc. owns the property and will lease it to Hard Rock; terms of that agreement were… Read more »
MGM Resorts International has announced that it has agreed to acquire the operations of The Cosmopolitan of Las Vegas from Blackstone for $1.625 billion in cash. The deal is solely for the property’s operations, not the real estate itself. The purchase is part of a larger transaction in which Blackstone is selling the real estate… Read more »
“Vital to our community’s continued healing” MGM Resorts International announced this week that it is donating two acres of land, part of the Las Vegas Village festival site, to be used as a memorial for the victims and survivors of the 2017 Las Vegas mass shooting. The October 1 shooting was the deadliest mass shooting… Read more »
Continues the real estate/operation split MGM Growth Properties has acquired the real estate of MGM Springfield in Massachusetts from MGM Resorts International for $400 million cash. The purchase is a leaseback deal in which MGM Resorts will continue to operate the property and pay MGM Growth $30 million per year in rent. In Tuesday’s announcement,… Read more »
Healthy competition Michigan has its second online poker room, as BetMGM launched its site on Monday. It sounded like there was a possibility that the switch wouldn’t be flipped until later in the week, but sure enough, the tables opened and Michiganders can now enjoy another online poker option. As one would expect, the tables… Read more »
DAZN made an offer he couldn’t refuse Entain, the parent company of partypoker, announced on Monday that chief executive officer Shay Segev is stepping down from his position. He will stay on for six months or until his replacement is hired before moving to sports streaming platform DAZN as its co-CEO. It sounds like Segev’s… Read more »
Entain believes it’s worth more When Entain announced on Monday that it had rejected MGM Resorts International’s £8.1 billion ($11.1 billion) acquisition offer, it said that it wanted MGM to “provide additional information in respect of the strategic rationale for a combination of the two companies.” As it turns out, MGM did provide that additional… Read more »
Forever dark According to a report from CardsChat, three MGM properties on the Strip – the Mirage, Excalibur, and Mandalay Bay – are closing their poker rooms for good. All of the card rooms have been closed since mid-March, when casinos in Nevada were ordered to shut down because of the COVID-19 pandemic. Casinos were… Read more »
While it has not been proven to be an actual plan for the future of one of Las Vegas’ most powerful casino conglomerates, there is an alleged plan for the opening of the MGM Resorts properties making the rounds on social media. The plan, while logical, may be rooted in information that came from a… Read more »
Two more iconic properties sold MGM Resorts International announced on Tuesday that it has agreed to sell both the MGM Grand Las Vegas casino and the Mandalay Bay. The total value of the deal is approximately $4.6 billion. The sale of MGM Grand is the most heavily-covered part of the deal in MGM’s press release.… Read more »
MGM wants to get lighter MGM continues to look to shed properties, as Bloomberg is reporting that MGM Resorts International and MGM Growth Properties LLC, a real estate investment trust spinoff, are looking for an investor to buy the MGM Grand and Mandalay Bay. Bloomberg’s sources provided little detail and MGM Growth Properties did not… Read more »
MGM Resorts International announced on Tuesday that it has sold two of its Las Vegas Strip casinos: Circus Circus and Bellagio. The combined sales price of the two properties is $5.075 billion. Circus Circus The agreement to sell Circus Circus, one of the mainstays of the north end of the Strip, was rumored to have… Read more »
Surprisingly, the state of Maryland has a casino gaming war going on its turf. And the winners of the ongoing battle are the patrons of the casinos and, of course, the state government. Leader of the Pack MGM Resorts International announced last week that it will be expanding the gaming space of one of its… Read more »
