MGM Resorts explores sale of two casino operations, Bloomberg News reports
Thursday 21 de March 2024 / 12:00
⏱ 1 min read
(Ohio).- MGM Resorts International is exploring the sale of its casino operations at Ohio's Northfield Park and in Springfield, Massachusetts, according to a report by Bloomberg News citing people with knowledge of the matter.
The company is working with financial advisers, but the discussions are preliminary and may not result in any action, said the people, who asked to not be identified as the information is confidential. A spokesperson for MGM declined to comment on the discussions.
MGM’s management has been frustrated with the company’s share price. The stock has climbed less than 5 percent over the past two years despite growth in sales and profit. The largest operator of casinos on the Las Vegas Strip has been looking to build out its exposure to online gambling in the US and overseas.
MGM Northfield Park, a horse track that also has a casino, is located about 20 miles southeast of Cleveland. MGM took over management of the former Hard Rock property in 2019.
MGM won the license to operate in Springfield after Massachusetts authorized casino gambling. The casino, which opened in 2018, has been something of a disappointment.
“Our original valuation of this market simply was off — full stop,” MGM Chief Executive Officer Bill Hornbuckle told reporters after meeting with local officials last year. The property generated $278 million in gambling revenue in 2023.
The real estate at both casinos is owned by Vici Properties Inc., a New York-based real estate investment trust that acquired MGM Growth Properties, MGM’s REIT affiliate, almost two years ago.
A Vici representative declined to comment on the sale talks.
Categoría:Casino
Tags: MGM Resorts, casino,
País: United States
Región: North America
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
GAT Expo Cartagena 2026: A Strategic Gathering Driving Innovation, Business, and Regulation
(Cartagena de Indias, SoloAzar Exclusive).- On the second day of GAT Expo Cartagena 2026, the exhibition at the stands officially opened, where companies are showcasing their latest developments in products, systems, and platforms, marking the start of the event’s commercial activity. SoloAzar is on-site to capture the highlights of this key industry gathering.
Wednesday 25 Mar 2026 / 12:00
Coljuegos has transferred $3,6 billion to healthcare since 2022, highlights Marco Emilio Hincapié at GAT Expo 2026
(Bogotá).- During the GAT Expo Gaming and Technology 2026, the president of Coljuegos, Marco Emilio Hincapié, assured that in the Government of Change, $3.6 billion have been allocated to the subsidized health regime, equivalent to 41.84% of the resources generated by the gaming industry since 2012.
Wednesday 25 Mar 2026 / 12:00
Strong Attendance Marks the Academic Agenda at GAT Expo Cartagena 2026
(Cartagena de Indias).– High-level conferences and panels marked the opening of GAT Expo Cartagena yesterday at the Las Américas Convention Center. This kicked off the official programming of the fair, which brings together authorities, regulators, entrepreneurs, and industry experts. For eight continuous hours, participants engaged in technical, regulatory, and economic analysis within a dynamic sectoral conversation.
Wednesday 25 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.