Fitch Ratings has maintained its negative ratings watch on MGM Resorts International, due mainly to regulatory uncertainty relating to MGM China’s gaming concession in Macau.
Shares in MGM Resorts gained on Tuesday after the company posted stronger-than-expected 1Q22 earnings, helped by its U.S. operations, as Macau continues to lag.
MGM Resorts International said it's expanding in the online space with the $607 million acquisition of LeoVegas AB.
MGM Growth Properties, a real estate investment trust, said it had paid a cash distribution of $142.1 million for the first quarter, with $59 million going to shareholder MGM Resorts.
The International Center for Responsible Gaming (ICRG) announced today that it has received a $250,000 grant from MGM Resorts International in support of the organization’s research and education on gambling disorders and responsible gambling.
Moody's Investors Service has downgraded MGM Resorts International's Corporate Family Rating to B1 from Ba3, reflecting slower than expected recovery in Macau and high leverage level the company is expected to carry.
MGM Resorts International on Wednesday announced a new $2.0 billion share repurchase program, which it said is designed to return value to the company’s shareholders.
MGM Resorts said it had paid $202.5 million to buy back stock from Corvex Management in a “testament to the long-term trajectory” of its business.
MGM Resorts is rolling out virtual reality headsets aimed at reducing potential turnover by allowing employees to try a job in VR before accepting a role.
MGM Resorts International CFO Jonathan Halkyard says the company does not believe the most recent blow to the junket industry will have a dramatic impact on MGM’s operations in Macau