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MGM RESORTS INTERNATIONAL

(MGM)
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BETMGM AND GILA RIVER HOTELS & CASINOS ANNOUNCE OPENING OF THE BETMGM SPORTSBOOK AT VEE QUIVA; Launch marks BetMGM's first retail sportsbook in Arizona and Phoenix's first in-casino sportsbook

11/08/2021 | 08:02am EST

CHANDLER, Ariz - BetMGM, a leading sports betting and iGaming operator, and Gila River Hotels & Casinos today announced the opening of The BetMGM Sportsbook at Vee Quiva. This marks the first opening of a BetMGM retail sportsbook in Arizona and Phoenix's first in-casino sportsbook.

'It's great to see our partnership with Gila River come to life in Arizona,' said BetMGM CEO Adam Greenblatt. 'The BetMGM Sportsbook at Vee Quiva will be a true destination for sports fans and we look forward to opening additional venues at Wild Horse Pass and Lone Butte. These retail sportsbooks complement our existing mobile platform in Arizona and further cement our goal of providing BetMGM customers with a world-class experience.'

In August, BetMGM announced partnerships with Gila River Hotels & Casinos and the Arizona Cardinals for retail and online sports betting, establishing its first relationships in the state. BetMGM collaborated with Gila River to build custom sportsbooks at each of its three properties - Vee Quiva, Wild Horse Pass and Lone Butte.

Kenneth Manuel, CEO of Gila River Hotels & Casinos, said, 'The new sportsbooks align perfectly with Gila River's sports-centric brand. As Arizona's Official Sports Headquarters, we take pride in bringing unique sports experiences to our valued guests. We're excited to partner with BetMGM to deliver a diverse, engaging selection of betting options, no matter if you're a huge sports fan or just want to check out the fun.'

The BetMGM Sportsbook at Vee Quiva boasts 25 large screen displays, a massive media wall and seating for more than 100 guests. Guests can view games and events from all major U.S. and international sports. The sportsbook also features 20 betting kiosks and ticket writers present to assist guest with placing bets.

In addition to launching sportsbooks at Wild Horse Pass and Lone Butte in the near future, BetMGM is working with the Arizona Cardinals to create a BetMGM Sportsbook at State Farm Stadium, home of the Arizona Cardinals, which is targeted to open in time for the 2022 NFL season.

About BetMGM

BetMGM is a market-leading sports betting and digital gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's U.S.-licensed state of the art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, PartyCasino and PartyPoker. For more information, visit http://www.betmgm.com/.

About Gila Rivers Hotels & Casinos

Gila River Hotels & Casinos currently operates three locations in Arizona, all owned by the Gila River Indian Community: Wild Horse Pass, Lone Butte, and Vee Quiva. The hotels at Wild Horse Pass and Vee Quiva are Four Diamond accredited. Open 24 hours a day, 365 days a year, all three casinos offer a combination of slots, live table games, poker, and other fun games, with BetMGM sportsbooks opening in November. A fourth casino, Santan Mountain, is under construction and is expected to open in 18 to 24 months. Additional information is available at 1-800-946-4452 or at PlayAtGila.com.

Statements in this release that are not historical facts are 'forward-looking' statements and 'safe harbor statements' within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including BetMGM's ability to grow in new or existing jurisdictions. Management has based forward-looking statements on current expectations and assumptions and not on historical facts. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the effects of economic and market conditions in the jurisdictions in which BetMGM operates, competition with other iGaming and sports betting platforms, the timing and costs of expanding in new jurisdictions as well as obtaining and maintaining the required permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions. In providing forward-looking statements, BetMGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If BetMGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ENTAIN PLC -5.90% 1538.5 Delayed Quote.-8.20%
MGM RESORTS INTERNATIONAL 2.27% 41.89 Delayed Quote.-8.73%
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Financials (USD)
Sales 2021 9 367 M - -
Net income 2021 1 156 M - -
Net Debt 2021 6 120 M - -
P/E ratio 2021 18,1x
Yield 2021 0,02%
Capitalization 19 645 M 19 645 M -
EV / Sales 2021 2,75x
EV / Sales 2022 1,68x
Nbr of Employees 54 000
Free-Float -
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Number of Analysts 16
Last Close Price 41,89 $
Average target price 53,49 $
Spread / Average Target 27,7%
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William Joseph Hornbuckle President, Chief Executive Officer & Director
Jonathan S. Halkyard Chief Financial Officer & Treasurer
Paul Jude Salem Chairman
Tilak Mandadi Chief Strategy, Innovation & Technology Officer
Corey I. Sanders Chief Operating Officer
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