Two Macau casinos received large loans from their US parent companies, helping them weather the latest COVID shutdown. Although, it may be US gamblers and shareholders who pay the price in the end. Last month, Wynn Resorts provided a $500 million revolving loan to Wynn Macau. Meanwhile, Las Vegas Sands […]
Hard Rock International announced on Monday that it will buy the Mirage Hotel & Casino for $1.075 billion. The Florida-based company will also spend $1.5 billion to remodel the resort, adding another hotel tower. MGM Resorts will net $815 million from the sale after taxes and fees. Hard Rock International […]
It was another busy week in gambling mergers. MGM Resorts will pay $1.63 billion to operate The Cosmopolitan. Meanwhile, Endeavor will buy sports betting platform OpenBet from Scientific Games for $1.2 billion. While most of the mergers in the gambling industry involve sports betting, there are still a handful of […]
Even after aggressively purging its payroll, MGM Resorts lost more than a half-billion dollars in the third quarter of 2020. A singular bright spot was the company’s online sports betting arm, BetMGM, CEO Bill Hornbuckle said Thursday during the company’s quarterly earnings call. New Jersey-based BetMGM, a joint venture with GVC […]
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