News

GMA quoted on SportsHandle.com

BetMGM Partners with NFL Cardinals And Gila River Casinos in Arizona

by Jill R. Dorson

BetMGM on Monday became the first major sports betting operator with multiple partners in Arizona when it announced a deal with the Gila River Indian Community and the Arizona Cardinals for market access into the biggest legal sports betting state in the West.  The deal was announced on the final day for prospective operators to submit even wagering applications to the Arizona Department of Gaming.

BetMGM now has multiple points of market access in Arizona, is the only company to partner with both a professional sprts team and a tribe, and has the opportunity to open at least four retail sports betting locations – one each at Fila Rivers’ three casinos and one at the Cardinals’ State Farm Stadium. The tribe is planning a fourth casino in the future, and MGM would be able to put a branded sportsbook in that location as well.

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GMA quoted in Northern Nevada Business Weekly

Nevada sportsbooks headed toward record year

by Howard Stutz

Sports betting is legal and regulated in more than half the U.S.

But despite the competition, Nevada’s sports betting industry has thrived.

If the first six months of 2021 are an indicator, Nevada sportsbooks are on pace to shatter the state’s annual records for wagers and revenues that were recorded in 2019.  Through June, sportsbooks collected $3.3 billion in bets, an increase of 32 percent compared to 2019.  Total sports revenue of $207 million in already 56.2 percent ahead of the 2019 total.

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GMA quoted in PlayUSA.com

Florida Sports Betting Future Still Murky As Seminole Gaming Compact Took Effect Friday

by Brant James

The Seminole Tribe’s landmark new 30-year gambling compact with the state of Florida has passed federal scrutiny.

It did so by avoiding federal judgment.  The Department of the Interior informed the Tribe and State of Florida on Friday that it would take no action in ascertaining its legality, letting the deal bringing legal sports betting to Florida pass into law without a verdict as the 45-day consideration period ended.

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GMA quoted in the Associated Press

Casino giant MGM Resorts selling land to New York-based firm

By Ken Ritter

A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment and MGM Resorts International.

Combined, VICI Properties Inc. will end up with properties in 15 states.

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GMA quoted on Vixio Gambling Compliance

MGM REIT Sale Fuels Speculation At Second Bid for Entain

by Chris Sieroty

VICI Properties plans to acquire MGM Growth Properties (MGP), including MGM Resorts International’s stake in the real estate investment trust (REIT), in a deal that values the REIT at $17.2bn and will provide some $4.4bn to fund MGM’s expansion initiatives.

The deal, announced on Wednesday, will create the largest U.S. owner of experiential real estate, valued at $45bn, and see VICI buy most of the operating partnership unites held by MGM Resorst in MGM Growth for about $4.4bn in cash.

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GMA quoted in the Nevada Independent

VICI Properties buying rival MGM Growth for $17.2 billion, will become Strip’s largest landowner

by Howard Stutz

Five months after agreeing to purchase the Strip properties owned by Las Vegas Sands, New York City based real estate investment trust (REIT) VICI Properties said it was acquiring an even larger chunk of the Strip, becoming the resort corridor’s largest landowner.

VICI announced Wednesday a $17.2 billion deal to buy out rival gaming REIT MGM Growth Properties, which owns the real estate of 15 casinos and resorts in eight states, including seven properties on teh Strip.  All of MGM Growth’s properties are operated by MGM Resorts International.

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GMA quoted in the Las Vegas Review Journal

MGM Resorts spinoff sold in $17B deal

by Eli Segall and Colton Lochhead

A major casino landlord is buying another in a $17 billion-plus deal, putting real estate ownership of many of las Vegas’ biggest resorts under one company.

Caesars Entertainment spinoff Vici Properties reached a deal to acquire MGM Resorts International spinoff MGM Growth Properties, the companies announced Wednesday.

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GMA quoted in The Nevada Independent

Indy Gaming: Nevada sportsbooks headed toward a record year even as more states legalize the activity

by Howard Stutz

Sports betting is legal and regulated in more than half of the U.S.

But despite the competition, Nevada’s sports betting industry has thrived.

If the first six months of 2021 are an indicator, Nevada sportsbooks are on pace to shatter the state’s annual records for wagers and revenues that were recorded in 2019.  Through June, sportsbooks collected $3.3 billion in bets, an increase of 32 percent compared to 2019.  Total sports revenue of $207 million is already 56.2 percent ahead of the 2019 total.

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GMA quoted on SportsHandle.com

Wyoming, South Dakota Approve Sports Gambling Rules

by Matt Rybaltowski

The Wyoming Gaming Commission approved a series of online sports wagering rules on Monday, setting the stage for the launch of mobile sports betting across the state.

Wyoming’s mobile-only framework for sports wagering compares favorably with the infrastructure in Tennessee, which prohibits betting through retail sportsbooks.  When Wyoming Gov. mark Gordon signed HB 133 into law in April, he became the first governor to legalize sports betting in his respective state during the 2021 calendar year.

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GMA quoted in Forbes

Nevada Records Another $1 Billion Month, But Las Vegas Plods Through A Cautious Recovery

by Will Yakowicz

Nevada recorded $3.462 billion in revenue from its casinos during the second quarter of 2021, making it the largest quarterly gaming win in the Silver State’s history – a signal that the gambling industry is in recovery mode.

According to the Nevada Gaming Control Board, the state collected $1.2 billion in gambling revenue in June, the fourth consecutive billion-dollar month and a 14.6% increase over June 2019.

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