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MGM Resorts International

MGM Resorts Teams with USO and American Airlines for 14th Annual Salute to the Troops at Mandalay Bay

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MGM Resorts International will host the United Service Organizations (USO) Experience: Salute to the Troops, honoring more than 100 active-duty service members who have been injured in the line of duty beginning Friday, November 8. Now in its 14th year, the five-day celebration will take place at Mandalay Bay Resort & Casino.

In partnership with USO, American Airlines will fly these honored guests and their families to Las Vegas for an extended holiday weekend, with MGM Resorts providing accommodations, meals, entertainment, and other amenities free of charge.

As with previous years, hundreds of MGM Resorts employees, community partners, and supporters will gather to greet the group during a special “Wall of Gratitude” welcome procession at Mandalay Bay.

Salute to the Troops will feature a variety of activities, events, and excursions throughout Las Vegas and Southern Nevada, including a welcome dinner, tours of the Hoover Dam and Red Rock Canyon, a visit to Mandalay Bay’s Shark Reef Aquarium, Luxor’s Blue Man Group, and more.

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MGM Resorts remains committed to supporting military members and their families year-round, including actively recruiting and employing military men and women. The Company was recently honored with the “Extraordinary Employer Support Award” by the United States Department of Defense and is a proud member of the Veteran Jobs Mission, a coalition of companies aiming to place one million U.S. military members and veterans into meaningful and rewarding careers.

Adam Greenblatt Chief Executive Officer of BetMGM

BetMGM 1Q 2025 Business Update

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Strong start to 2025 affirms strategic approach and confidence of positive EBITDA in 2025

BetMGM LLC , one of the leading sports betting and iGaming operators across North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on its 1Q 2025 performance.

  • BetMGM’s strong momentum from 2H 2024 continued during 1Q 2025, driven by its leading iGaming offering and strengthened sports product, and refined approach to player management
  • 1Q Net Revenue up +34% YoY with strong growth across both iGaming (+27%) and Online Sports (+68%)
  • Positive 1Q EBITDA and underlying trends reaffirm confidence that FY 2025 will be EBITDA positive1

Adam Greenblatt, Chief Executive Officer of BetMGM, commented:

“2025 is off to an encouraging start for BetMGM as we execute our revised strategic plan. The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale. In Online Sports, we are elevating our brand and delivering improved performance, even in the face of unfavorable sports outcomes during key moments in the quarter. As we approach May, we remain confident in achieving full year positive EBITDA in 2025, supported by solid underlying activity trends and our successful delivery of positive EBITDA in the first quarter.”

1Q 2025 Key Financial Highlights

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1Q 2025 BetMGM Financial Summary1,2,3
Three months ended
March 31
$ millions, unless otherwise noted 2025 2024 YoY Change
Net Revenue
iGaming $443 $348 +27%
Online Sports $194 $116 +68%
Handle $4,088 $3,174 +29%
GGR Hold % 8.2% 8.7% (50)bps
NGR Hold % 4.8% 3.6% +110bps
Retail / Other $20 $26 (22)%
Total Net Revenue $657 $489 +34%
Contribution $116 ($38) +$153
EBITDA $22 ($132) +$154
Average Monthly Actives (thousands)4 1,067 1,009 +6%

Financial Highlights

  • 1Q Net Revenue of $657 million, up +34% YoY, continuing acceleration with strong underlying player engagement metrics
    • iGaming Net Revenue up +27% YoY driven by leading iGaming offering
    • Online Sports Net Revenue up +68% YoY demonstrating strengthened product offering, expansion of NGR margin, and enhanced player engagement
      • Handle up +29% YoY5
      • NGR margin improvement of +110 bps YoY
    • Average Monthly Actives up +6% YoY, reflecting significant growth in iGaming players, partially offset by improved OSB approach to player segmentation and management
  • 1Q EBITDA of $22 million (up $154 million YoY), with iGaming Contribution of $133 million and positive Contribution from Online Sports
    • 1Q EBITDA benefited from one-time accounting items offset by the impact of customer friendly sports results
  • Continued stabilization of GGR market share in active markets with iGaming (22%) and Online Sports (8%), further cementing BetMGM’s podium position in the market6,7
  • $150 million revolving credit facility remains undrawn

Operational highlights

  • Market leading iGaming offering
    • 1Q Average Monthly Actives up +43% reflecting our leading iGaming offering and focused marketing investment
    • Active Player Days up +39% YoY driven by unique and exclusive content across both real-money and free-to-play engagement games8
    • Improved cross-sell engagement with +13 ppt YoY increase in percent of Online Sports players playing iGaming9
  • Strengthened Online Sports product coupled with focus on premium mass players and improved engagement
    • Broader market range, improved pricing and enhanced parlay offering contributed to strong gains in player economics and activity metrics
      • Growth of +4.8 ppt in parlay bet mix (inclusive of SGPs)10
      • Bets per Active increased +28% YoY11
  • Refined approach to player retention with improved segmentation and promotional strategy
  • Handle per Active up +37% YoY12
  • Active Player Days up +20% YoY

Outlook

  • BetMGM’s year-to-date performance provides increased confidence in exceeding guidance, however we remain mindful it is still relatively early in the year. As such, we reaffirm our expectations for FY 2025 to be EBITDA positive, and Net Revenue guidance of $2.4 billion to $2.5 billion
    • Reiterated expectations of Online Sports to be Contribution positive for FY 2025
  • Reaffirmed confidence in BetMGM’s pathway to $500 million EBITDA in the coming years

The post BetMGM 1Q 2025 Business Update appeared first on Gaming and Gambling Industry in the Americas.

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Bill Hornbuckle

MGM Resorts Appoints Donna Langley to its Board of Directors

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MGM Resorts International has appointed Dame Donna Langley, Chairman of NBCUniversal Entertainment & Studios, to the Company’s Board of Directors. Langley becomes the 13th member of the board.

Langley leads greenlight decisions across NBCUniversal with full oversight of all entertainment programming and marketing across Peacock, Bravo, and NBC, including primetime and late night. She continues to spearhead global creative strategy, business operations, production, acquisitions, and distribution for the portfolio of award-winning Film and Television Studios.

“Donna will be a tremendous asset to the board and to the Company as it continues pursuing its vision to be the world’s premiere gaming entertainment company. Her entertainment background and experience, especially in areas like content strategy, programming, distribution and marketing, will be invaluable as she offers her guidance to the Company and its leaders,” Paul Salem, Chair of the MGM Resorts board of directors, said.

MGM Resorts CEO & President Bill Hornbuckle said: “We welcome Donna to our board and look forward to leveraging her deep and valuable experience in the entertainment space as we continue developing and producing our own proprietary sports and entertainment content for our guests. Donna is globally recognized as an innovative and influential leader with a special skill for reshaping industries, invigorating brands and leading organizations through change. She will be a tremendous asset to our executive team at MGM Resorts.”

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“MGM Resorts is the global leader across gaming, hospitality and live entertainment. Joining their board as they continue to ideate and innovate on best-in-class experiences for multi-generational audiences is an exciting challenge I’m delighted to take on with my fellow board members and the incredible management team,” Langley said.

The post MGM Resorts Appoints Donna Langley to its Board of Directors appeared first on Gaming and Gambling Industry in the Americas.

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Cisco and MGM Resorts International Sign Multi-year Agreement

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Cisco and MGM Resorts International announced that the companies have signed a Whole Portfolio Agreement (WPA), empowering MGM Resorts with the majority of Cisco’s software portfolio. This includes cybersecurity, software defined networking, software defined-WAN, digital experience assurance, full-stack observability, data center, and services. This agreement spans 5.5 years, benefiting guests and employees across all of MGM Resorts’ properties.

Recognized as one of FORTUNE Magazine’s World’s Most Admired Companies, MGM Resorts operates some of the most famous resorts and casinos in the world. It prides itself on delivering a winning combination of quality entertainment, luxurious destinations, and exceptional guest experience.

The agreement will enable the automation of MGM Resort’s network. This will pave the way for future location services and next-generation machine learning applications in the gaming and hospitality industry, unlocking new channels of guest engagement. Additionally, Cisco technology will ensure uptime and security—essential for the delivery of exceptional guest experiences in its 24/7 operations.

“Guests expect world-class hospitality from MGM Resorts, and technology helps us deliver. The new agreement with Cisco will give our employees the technology, speed and agility they need as we continue to deliver amazing guest experiences at all MGM Resorts’ destinations,” said Branden Newman, Chief Technology Officer at MGM Resorts International.

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Cisco and MGM Resorts’ relationship dates back many years, with Cisco technology playing an integral role in MGM Resorts’ operations.

The WPA strengthens this relationship. Together, the companies will ensure MGM Resorts’ employees have secure access to all applications so they can continue to transform the business. Additionally, the deployment supports MGM Resorts’ sustainability goals as Cisco’s portfolio can be used to reduce emissions, improve resource efficiency, and enable more circular business models.

“At Cisco, we securely connect everything to make anything possible. We are excited to continue our partnership with MGM Resorts in this next phase of their digital transformation. With decades of technology and expertise, Cisco aims to help MGM Resorts navigate into the future and simplify processes to drive innovation at scale,” said Scott Herren, Executive Vice President and Chief Financial Officer at Cisco.

“As the lead Cisco partner on this WPA, we look forward to delivering the outcomes expected by MGM Resorts as part of its digital transformation plans. Equipped with data from across the business, we can predict and proactively address MGM Resorts’ technology and communication needs to deliver an exceptional customer experience,” said Marco Mohajer, President of Technologent.

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