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BetMGM announced the launch of BetMGM Casino online in Pennsylvania, which will deliver a wide range of online casino games to the Keystone state residents. The casino launch also paves the foundation for the upcoming launch of BetMGM’s sports betting offering within the state, which should be available statewide in the coming weeks, pending necessary regulatory approvals. MGM Investor News. MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company featuring best-in-class hotels and casinos, meetings and conference spaces, entertainment experiences, restaurants, nightlife, and retail offerings.
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- »MGM Ends Pursuit for UK Online Gambling Businesses
A bid by US casino giant MGM Resorts to takeover UK bookmaker Ladbrokes and Coral has ended.
Yahoo reports that MGM said it will not raise the $11 billion offer of two weeks ago for Entain’s entities, which were rebuffed as “significantly” undervaluing the company.
Following Entain’s rejection, shares in the UK-listed company tumbled.
After MGM’s announcement that they would be walking away, Entain shares fell another 20 per cent.
FTSE 100-listed Entain, which renamed itself from GVC Holdings in December, describes itself as “one of the world’s largest sports betting and gaming groups operating in the online and retail sector.”
In addition to Ladbrokes, it also owns Bwin, Partypoker, Coral, Eurobet, Gala and Foxy Bingo.
The failed bid was the latest attempt by a casino operator to move into the online gambling business.
MGM Resorts runs the Bellagio casino in Las Vegas and was hoping to emulate the feats of its rival, Caesars Entertainment, which agreed to buy William Hill for $3.7 billion in September 2020.
Media Mogul Invests in MGM Resorts
Photo by Chronis Yan
Media mogul has purchased a near $1 billion stake in MGM Resorts.
CNN Business reported in August that the stake was purchased by Interactivecorp (IAC), a conglomerate run by media mogul Barry Diller.
The amount purchased amounts to about a 12 per cent interest in the Las Vegas-based global casino and hotel giant.
Shares of MGM Resorts surged nearly 15 per cent on the back of the news, while IAC’s stock was down about two per cent.
IAC has been actively shaking up its portfolio in recent months.
The company completed its sale of Match shares last month after announcing plans to do so in December.
It also agreed in December to buy Care.com, a company that helps people find caregivers and housekeepers, for $500 million.
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IAC also owns digital content brand DotDash and video tools firm Vimeo.
But the MGM Resorts investment could be Diller’s boldest move yet.
He said in a press release the new IAC has a healthy balance sheet and “its opportunistic zeal intact.”
“We are energised and excited to make this investment in MGM,” he said, adding that IAC is particularly interested in “an area that currently comprises a tiny portion of its revenue – online gaming.
IAC chief executive officer Joey Levin added: “MGM Resorts presents a unique opportunity for IAC to own a meaningful piece of a pre eminent brand in a large category with immense potential,” noting IAC plans to be a “minority investor and long-term strategic partner.”
MGM Resorts chairman Paul Salem noted that IAC can help MGM continue to grow its digital gaming and sports betting businesses.
Big casino companies like MGM and rivals Wynn Resorts and Las Vegas Sands have struggled this year as the coronavirus pandemic led to a slowdown in travel to Las Vegas and Asian gaming mecca Macau.
Indiana Casino Sold for $250m
Casino operator Caesars Entertainment has reached an agreement to see an Indiana casino for $250 million.
The Sacramento Bee reported in December that Caesars has agreed to sell Caesars Southern Indiana to the North Carolina-based Eastern Band of Cherokee Indians.
Caesars announced the sale agreement last Thursday, ahead of the company’s December 31 deadline to divest from the casino operation, located in the Harrison County town of Elizabeth, across the Ohio River from Louisville, Kentucky.
The agreement is an expansion of an existing partnership between the company and the EBCI.
At the closing of the deal, EBCI will enter into a new lease with VICI Properties, with annual payments of $32.5 million.
The 20-year-old casino retired its three-floor riverboat in late 2019 and moved into a new, $85 million land-based building that offers 100,000 square feet of gambling space, including slot machines, table games and poker, with room for dining and entertainment.
If there’s one thing Vegas does best, it’s big casinos. And they don’t get much bigger than the MGM Grand.
Designed from the outset to be biggest and best casino on the Strip, the MGM Grand covers a 6.6 acre area. This makes it the largest hotel resort in the USA, and the third largest in the world.
Indeed, so large is it that it even has its own dedicated registration/check-in facilities at nearby McCarran International Airport.
The biggest and the best
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The vision behind the MGM Grand was nothing if not bold. When the project was commissioned, its objective was to create the single biggest resort hotel in the world – something it was able to duly realise when it opened its doors in December 1993.
The MGM Grand stands on the site formerly occupied by the Tropicana Country Club and the Marina Hotel, with the latter forming part of the MGM Grand’s ‘West Wing’ accommodation. However, during its early years, it did suffer from something of an identity crisis.
In a bid to attract more families, the hotel and casino were build adjacent to the MCM Grand Adventures theme park, and a strong Wizard of Oz theme was prevalent throughout. Sadly though, this didn’t have the desired impact, and by 2001, the theme park had been closed and the Wizard of Oz theme axed in favour of African, Hollywood and Carnival themes.
An amazing place to gamble
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Befitting its brief, the MGM Grand has one of the largest casino floors on the Strip. This is some 171,500 square feet (15,930 m2) in size, and offers 139 table games and a whopping 2,500 slots.
Slots are a major draw at the MGM Grand, with the amounts accepted by its machines varying from $0.01 up to $1,000. Naturally, many of these offer progressive jackpots which pay out over $700,000 daily. And for the true slots connoisseur, there are high-limits slots where pay outs can be as high as $500,000.
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There are, of course, other games though. And the range of table games on offer includes:
- Let it ride poker
- Crazy 4 poker
- Casino war
- Texas hold ‘em poker
And for those who enjoy sports betting, you’ll find its 300 square feet sports and race betting facilities perfect if you find yourself in the mood for a flutter.
Eat, drink and be entertained
If there’s one thing you won’t be short of at the MGM Grand, its ways to entertain yourself, irrespective of whether you’re a gambler or non-gambler.
Whether you’re looking for a quick bite to eat and a frothy coffee, or a refined evening meal, MGM Grand’s array of 22 restaurants, cafes and diners cater for all palettes and whims. And if you don’t want to go out, you can always order food straight to your room using the 24-hour room service.
The hotel itself boasts an enviable selection of amenities, including five swimming pools, three whirlpools, a river and waterfall, and spa and salon.
Alternatively, you may wish to take in one of its many shows and events. Marvel at the death-defying stunts of the Cirque du Soleil, take in a sports event or concert at the MGM Garden Arena, laugh yourself silly in Brad Gassett’s Comedy Club, or have your brain pushed to the maximum in CSI: The Experience. All these, and more, are available at the MGM Grand.
And for those of you who wish to party the night away, you can do so in the hotels bars and night clubs, or head over to the pool for one of its pool parties.
America’s biggest hotel
Given that it’s the single biggest hotel resort in the US – it has some 6,852 rooms – it’s hardly surprising that the MGM Grand offers a wide array of rooms to suit most budgets.
Even the most basic rooms come with a flat-panel TV, a DVD player and high-speed internet access. While for those looking for the last word in luxury, the Skyloft penthouses – which span two whole floors and several rooms – offer uncompromising luxury, right down to your own personal butler and concierge.
MGM Grand facts and figures
Finally, here are some facts and figures relating to the MGM Grand:
- Address: 3799 Boulevard South, Las Vegas
- Opened: December 18, 1993
- Total gaming space: 15,930 m² (171,500 sq ft)
- Total number of rooms: 6,852
- Smoking: yes
- Number of slots: 2,500+
- Parent company: MGM Resorts International
For more information, including how to book your room, please visit the MGM Grand Las Vegas official website.