Analysts said the Las Vegas casino operator’s deal carries one of the highest transaction valuations for a single regional casino operation since the pandemic.
MGM Resorts International
The Las Vegas casino operator was widely considered a favorite to secure one of three available downstate New York gaming licenses.
A newly licensed MGM Resorts executive also told regulators about how the Las Vegas casino operator is still working with the FBI on the cyberattack it suffered in 2023.
The executive, who is currently president of two of MGM’s hotels on the Las Vegas Strip, will take over as chief operating officer effective Jan. 1.
MGM Resorts, the largest casino operator on the Las Vegas Strip, says it expects to choose his replacement later this month.
MGM Resorts International and Caesars Entertainment, which combined manage 17 casino hotels on Las Vegas Boulevard, are optimistic about the second half of 2025 and the early part of 2026.
Two big fines against two MGM properties and Resorts World resulted in different responses and perspectives from those paying $19 million in fines.
The two largest Las Vegas Strip casino operators remain optimistic in the face of recent data suggesting tourism and visitation levels are beginning to lag.
The Nevada Gaming Commission voted unanimously to approve an $8.5 million fine against MGM Resorts for letting illegal bookmakers gamble at its Las Vegas casinos.
The complaint alleged the casino giant permitted two illegal bookmakers to gamble from 2015 to 2018 at MGM Grand and The Cosmopolitan.
MGM Rewards members can now unlock perks in-between card tiers, among other changes.
The staff was notified of the executive’s retirement on Thursday. No replacement has been named.
In a letter to MGM legal representatives, the Federal Trade Commission said it is withdrawing its civil investigative demand made to MGM Resorts in January 2024.
Attorneys say some plaintiffs will get $75, others $50, if the class-action lawsuit settlement to be finalized in June is approved in U.S. District Court in Nevada.
MGM Resorts is offering $1 million and a 35-percent room discount for those impacted by the wildfires.