This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: CC0 Public Domain MGM Resorts International filed a lawsuit April 15 against the Federal Trade Commission and its top officer, Chairwoman Lina M. Khan, claiming the agency violated the company's Fifth Amendment right to due process while investigating a September cyberattack against the company. In the four-count actio ...

Key TakeawaysMGM Resorts filed suit in federal court Monday against the Federal Trade Commission (FTC) for its probe of the cyberattack that halted operations at the casino operator's properties in September.MGM claims an incident involving FTC Chair Lina Khan, who was at one of MGM's properties at the time of the attack, prompted the investigation.MGM argued its Fifth Amendment rights were violated because the regulations cited by the FTC that allowed it to conduct the investigation didn't apply to the com ...

Casino stock MGM Resorts International (NYSE:MGM) is higher today, last seen up 1.2% at $42.98. The equity yesterday pulled back 5% to close below the $42.50 area for the first time since early March, and is coming off its second-straight weekly loss with a 3.3% deficit for 2024. Now looks like the right time to bet on the security's next move higher, however, as this most recent pullback placed it near a historically bullish trendline. Specifically, MGM is trading within one standard deviation of its 126-d ...

LAS VEGAS, April 9, 2024 /PRNewswire/ -- MGM Resorts International (the "Company") (NYSE: MGM) today announced that it has completed its previously announced issuance (the "Offering") of $750,000,000 in aggregate principal amount of 6.500% senior notes due 2032 (the "Notes"), which were issued at par. The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the n ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? MGM Resorts (MGM) , which belongs to the Zacks Gaming industry, could be a great candidate to consider.This casino and resort operator has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 37.29%.For the last reported quarter, MGM ...

Nevada's largest employer partners with SNWA to offer extra water savings incentives LAS VEGAS, March 21, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") announced today that it has partnered with the Southern Nevada Water Authority (SNWA) to incentivize residential water conservation for its more than 50,000 employees in Southern Nevada. Through a $500,000 grant to the SNWA Water Efficiency Improvement Fund, MGM Resorts employees will earn additional rebates whe ...

Unprecedented collaboration between sports betting and hospitality leaders to reach millions with real-world rewards Features sweepstakes for the opportunity to win VIP Los Angeles vacation curated by Blake GriffinBETHESDA, Md. and JERSEY CITY, N.J., March 18, 2024 /PRNewswire/ -- Marriott Bonvoy, Marriott International's award-winning travel program, and BetMGM, a leading sports betting and iGaming operator, today launched an unprecedented rewards collaboration in the online sports betting and iGaming indu ...

Summary of MGM Resorts International Conference Call Company Overview - **Company**: MGM Resorts International (NYSE:MGM) - **Participants**: William Hornbuckle (CEO), Jonathan Halkyard (CFO), Joseph Greff (JPMorgan) Key Industry Insights - **Core Operations**: Focus on Las Vegas as the primary market, with a robust regional business that has shown resilience during economic fluctuations [3][4] - **Digital Expansion**: Significant growth in digital operations, particularly through BetMGM, projected to reach approximately $2.5 billion in revenue this year [5] - **International Development**: Active pursuits in Japan, New York, UAE, and Thailand for future expansion [6][8] Strategic Priorities - **Mandalay Convention Business**: Anticipation of 100,000 room nights return, expected to enhance productivity [3] - **Event Activity**: Sports events, including the Super Bowl, are key drivers for market growth [3] - **Digital Growth**: Expansion of BetMGM and international operations, including successful launches in the UK and other countries [5][19] Development Opportunities - **Japan**: License won, with construction expected to begin mid-2025, aiming for a 2030 opening [6][9] - **New York**: Awaiting regulatory approvals, with hopes to start construction by early to mid-2026 [10] - **UAE**: Exploring opportunities in non-gaming hotel projects with potential for future casino developments [6][11] - **Thailand**: Early-stage exploration for market entry, focusing on regulatory frameworks [16][18] Financial Performance and Projections - **Room Night Strategy**: Partnership with Marriott expected to drive 600,000 to 700,000 additional room nights annually, enhancing profitability [34][35] - **EBITDA Contribution**: Potential for LeoVegas to contribute $0.5 billion in cash flow if market share targets are met [24] - **BetMGM Growth**: Anticipated revenue growth of approximately 25% this year, with ongoing product enhancements to regain market share [25][26] Operational Insights - **Las Vegas Market**: Improved seasonality management through strategic programming and events, including Raiders games [31] - **Macau Recovery**: Outperforming peers with a focus on high-end offerings and strategic casino reconfigurations [39][40] Capital Allocation Strategy - **Debt Management**: Currently zero net debt, with a focus on disciplined capital allocation for future growth opportunities [49][50] - **Free Cash Flow Utilization**: Plans to use free cash flow for investments in BetMGM, Japan, and New York while considering share repurchases [50] Additional Considerations - **Regulatory Environment**: Ongoing efforts to engage with local governments in UAE and Thailand for potential gaming licenses [11][12] - **Technological Advancements**: Implementation of chip-in-chip technology in Macau to enhance tracking and customer experience [44][47] This summary encapsulates the key points discussed during the conference call, highlighting MGM Resorts International's strategic focus, growth opportunities, and financial outlook.

MGM Resorts International (NYSE:MGM) J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum March 14, 2024 5:40 PM ET Company Participants William Hornbuckle - CEO and President Jonathan Halkyard - CFO Conference Call Participants Joseph Greff - JPMorgan Joseph Greff Good afternoon, everybody. We're continuing our fireside chat sessions, with the team from MGM Resorts. To my immediate left is Bill Hornbuckle, Chief Executive Officer; to his immediate left is Jonathan Halkyard, Chief Fina ...

A month has gone by since the last earnings report for MGM Resorts (MGM) . Shares have added about 0.1% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is MGM due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. MGM Resorts Q4 Earnings & Revenues Top EstimatesMGM Resort ...