Wednesday, October 5, 2022

Tag: MGM Resorts International

Blackstone sells The Cosmopolitan

Blackstone sells The Cosmopolitan Las VegasBlackBlackstone sells The Cosmopolitan Las Vegasstone sells The Cosmopolitan Las Vegas
MGM Resorts will take over operations at the Las Vegas Strip resort, which sits between two of the company’s properties, the CityCenter and the Bellagio.

Bidders ready to present plans for Chicago casino to Windy City public

Bidders ready to present plans Chicago Casino
With industry commentators raising concerns about the high bar represented by the $1bn potential investment combined with the city’s tax rate, MGM and Wynn Resorts have already opted to pass on Chicago’s request for proposals process.

Chicago looks to attract Las Vegas operators

Chicago looks to attract Las Vegas operators
Chicago’s mayor Lori Lightfoot is optimistic that a number of the participants in its request for proposal process for a casino resort in city “will have Las Vegas addresses”.

Murren announces departure as MGM navigates turbulent skies

Murren MGM departure
After 12 years at the helm and 22 years as an MGM Resorts International employee, CEO and chairman Jim Murren is stepping down before the end of his..

2025 deadline for Osaka IR “unlikely”

Osaka IR 2025 Deadline unlikely
While analysts have suggested that the Japanese government will need to resolve several outstanding issues by Q2 2020, in order for Osaka to have an IR open

MGM takes centre stage in Ohio

MGM Resorts Northfield Park
MGM Resorts is now fully operational in the Ohio market after finalising a deal to take over operations at the Northfield Park racino property.

Tourism chief pours cold water on Dubai casino rumours

Dubai, bluewater
Following the notable entrance of longstanding casino operators into one of the most largest resort destinations in the world, a local tourism chief has calmed talk that Dubai could yet turn into a gaming hotspot. Both of the Las Vegas-based groups MGM Resort International and Caesars Entertainment have made recent announcements regarding entrance of the regional market with hotel properties...

Japanese government begins work on second casino bill

ICR - Japan Casino legislation
The global gaming business is abuzz about Japan’s upcoming casino legalisation, no small wonder considering that experts predict Japan could be the third biggest market globally, trailing behind the US and Macau.   Lawmakers passed a bill last December to legalise casinos, with the first sites predicted to open as soon as 2023. This April, the Japanese government has begun work...

Analysis: Could MGM’s triumphant Japanese entry be hampered by debt drag?

Casino Review - MGM Japanese market debt drag
Following a solid year in 2016, will MGM Resort Internationals’ long-term debt prove to be an ongoing challenge for the company going forward?   MGM Resorts International’s total long-term debt stands at $13.1bn and while the company has seen a solid 2016, this is one of the remaining obstacles that it needs to deal with longer term. While MGM has taken steps...