Friday, April 19, 2024

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MGM Resorts sues US Federal Trade Commission over cyber-attack investigation

MGM Resorts is suing the United States Federal Trade Commission (FTC) in efforts, claiming that the regulatory body is overstepping its bounds in its investigation into the cyber-attack on the gaming operator last September.

SJM and MGM to outperform in 1Q24 – CITI

Brokerage firm Citi forecasts that SJM Holdings and MGM China are likely to emerge as the operational outperformers for the first quarter of 2024 in Macau's gaming industry, underlining, especially, MGM's advantage in the use of radio frequency identification (RFID) technology in gaming tables.

High indebtedness could pose future repayment challenges: MGM China

MGM China has warned in a recent report that its 'high indebtedness' could 'pose challenges' for the operator to meet its obligations regarding unsecured notes.

Thailand could open first casino by 2029 ahead of MGM Osaka

Amid an accelerating move towards casino legalization in Thailand, the country could see its first Entertainment Complexes (EC) by 2029, according to research by Maybank Investment Bank.

MGM gained the most market share in January

MGM China has gained the most market share in January, with its casino share increasing from 17.5 percent in December 2023 to 20 percent in January 2024, according to UBS.

MGM China outperformed highest expectations and surpassing 2019 levels – Brokerages

MGM China results for the fourth quarter beat the highest expectations and surpassed even 2019 pre-pandemic levels, several analysts and brokerages stated.

MGM China’s 2023 adjusted EBITDA reached a historical high of $921M

Macau gaming operator MGM China experienced a record-breaking year in 2023, witnessing record-high performance across segments and continuing to outperform industry recovery.

Deutsche Bank raises MGM China’s 4Q23 EBITDAR forecast to $254M

Analysts from Deutsche Bank raise MGM China’s 4Q23 EBITDAR forecast from the previous $231 million to $254 million due to the strong performance in the period.

MGM becomes Macau’s first IR operator to fully convert to natural gas

MGM has achieved a new green milestone – with MGM Macau becoming the first hotel on the Macau Peninsula to convert to natural gas.

MGM China staff set to enjoy salary increases up to 6.5%

MGM has announced pay rises for its team members effective from March 25, 2024.