Business
August 3, 2021
MGM Donates Land for Memorial at Site of Mandalay Bay Shooting
MGM has donated two acres for a permanent memorial in honor of the victims of the 2017 Las Vegas mass shooting. MGM Resort International Donates 2 Acres for a Memorial On Monday, Clark County officials announced that MGM Resort International has donated two acres of privately owned land for a permanent memorial honoring the victims […]
Industry
July 19, 2021
MGM Resorts Is Reportedly Considering Another Run on Entain
One of the biggest casino and sportsbook operators in the US, MGM Resorts International, is on the verge of completing a deal it sees as a game-changer. MGM wants to buy out Entain Plc to completely control the jointly-led BetMGM sports betting operator, and is now free to make another bid. Back in January, MGM […]
Industry
July 19, 2021
MGM Resorts Lays Out What It Will Pay For an IR in Osaka, Japan
Over the next 12 months, there should be a lot of forward progress made in Japan’s efforts to bring integrated resorts (IR) to the country. There are realistically only four areas that are in the race for one of the first three locations to be chosen, and Osaka is among them. Should it be selected, […]
Industry
July 13, 2021
MGM’s Strip Sales and CityCenter Purchase Credit Negative
A recent report released by a top credit rating agency is warning investors about potentially increased risks from contingent lease obligations following a sale-leaseback scheme. Increased Credit Risk The report issued by Moody’s Investor Service considers the sale of the real estates of Aria and Vdara casino resorts on the Las Vegas Strip by MGM […]
Industry
July 2, 2021
MGM Buys Half of CityCenter and Strikes a Deal for Aria and Vdara for $3.89B
MGM Resorts International is taking over. It has announced that it will pay Infinity World Development $2.12 billion for a 50% interest in CityCentre, giving it 100% control of the property. The deal will reportedly give the property a valuation of $5.8 billion. Surprising News at a Surprising Time Some real estate market experts are […]
Industry
June 29, 2021
MGM Resorts Flips the Switch On 100-Megawatt Solar Power Array
MGM Resorts International has activated its Mega Solar Array project, spread over 640 acres in the desert north of Las Vegas. MGM Launches a Green Energy Project to Battle Global Warming On Monday, MGM Resorts International turned on the Mega Solar Array project, a 100-megawatt solar array powering 12 Strip properties and 36,000 hotel rooms. […]
Casino
June 21, 2021
A Small Plot on the Las Vegas Strip Sells for $80 Million
Brett Torino, a Las Vegas developer, has bought a small plot in CityCenter, $80 million, and plans to build a retail complex. Brett Torino Buys a Small Plot on the Strip for $80 Million Las Vegas developer Brett Torino started talks to buy a site on the Las Vegas Strip a year ago. Now he has a […]
Business
June 21, 2021
MGM Injects $500m to Upgrade Yonkers Raceway
Out with the old, in with the new is becoming fashionable in a post-COVID-19 environment, especially in the gambling ecosystem. A number of casino operators are breathing new life into their old properties as they emerge from the coronavirus destruction, hoping that fresh fixtures and amenities will quickly attract the crowds. New York’s Yonkers Raceway […]