MGM Resorts is making big moves with a strong first quarter announcement and plans for a significant bid in New York. CEO Bill Hornbuckle shared the company’s strategy for expansion at the Empire City Casino and highlighted robust growth in their digital divisions during their earnings call.
Key Points
- MGM reports a solid first quarter with an additional $2 billion stock buyback.
- CEO Hornbuckle believes they are in a strong position for the New York casino bid with plans for the Empire City Casino expansion.
- The number of bidders for the New York licenses has decreased from 11 to 9 after key withdrawals.
- MGM continues its commitment to Japan with an increased investment in the MGM-Orix project targeting a 2030 opening.
- Digital divisions, especially BetMGM, are growing and turning profitable, showcasing significant year-over-year increases.
Why should I read this?
If you’re curious about the future of gaming and entertainment on a global scale, this article’s got you covered! MGM’s moves in New York and international markets could shake things up in the industry. Plus, with their digital business booming, there’s plenty of reason to keep an eye on how these developments unfold—saving you the hassle of diving through all the details yourself!