MGM RESORTS INTERNATIONAL

(MGM)
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Delayed Nyse  -  04:00 2022-06-28 pm EDT
29.88 USD   -0.50%
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06:10aJMP Securities Starts MGM Resorts International at Market Outperform With $55 Price Target
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DETAILS FOR BETMGM BUSINESS UPDATE

05/06/2022 | 10:15am EDT

LAS VEGAS- BetMGM, a leading sports betting and iGaming operator across North America, will hold a virtual business update for analysts and investors on Thursday, May 12 at 11 a.m. EDT.

Hosted by BetMGM's management team - Adam Greenblatt, Chief Executive Officer, Gary Deutsch, Chief Financial Officer, Matt Prevost, Chief Revenue Officer and Jarrod Schwarz, Chief Product Officer - the event will provide insights into the rapidly growing North American sports betting and iGaming operations of BetMGM.

Presentations will be followed by a live question and answer session.

The event, including registration, can be accessed through https://event.webcasts.com/starthere.jsp?ei=1546306&tp_key=20ae892484. An on-demand replay also will be available after the event.

Q&A participants may submit written questions via the webcast. Alternatively, questions may be asked via live audio dial-in. To participate, please call 1-800-289-0720 for U.S. callers, 44-330-165-4012 for UK callers, and 1-323-701-0160 for international callers. The conference call access code is 6616118.

Presentation slides will be posted prior to the event on MGM's Investor Relations website at http://investors.mgmresorts.com/investors/events-and-presentations/ or Entain's Investor Relations website at https://entaingroup.com/investorrelations/results-centre/.

About BetMGM

BetMGM is a market leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (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 US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit www.betmgminc.com.

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500 global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 32 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its 'Focused on What Matters: Embracing Humanity and Protecting the Planet' philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE Magazine's World's Most Admired Companies. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram.

About Entain PLC

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet and Sports Interaction; Gaming Brands include CasinoClub, Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK with operations in a total of 31 regulated or regulating territories. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group's website: www.entaingroup.com

BETMGM CONTACT:

ELISA RICHARDSON, Head of Communications

press@betmgm.com

MGM RESORTS CONTACTS:

Investment Community, ANDREW CHAPMAN, Director of Investor Relations, (702) 693-8711, achapman@mgmresorts.com, OR News Media, BRIAN AHERN, Executive Director of Communications, media@mgmresorts.com

ENTAIN PLC CONTACT:

Investors

DAVID LLOYD-SEED, Chief Investor Relations & Communications Officer

DAVINA HOBBS, Head of Investor Relations

investors@entainroup.com

Media

LISA ATTENBOROUGH, Head of Corporate Communications

media@entaingroup.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ENTAIN PLC -2.36% 1304 Delayed Quote.-20.62%
MGM RESORTS INTERNATIONAL -0.50% 29.88 Delayed Quote.-32.62%
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Analyst Recommendations on MGM RESORTS INTERNATIONAL
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Financials (USD)
Sales 2022 12 444 M - -
Net income 2022 427 M - -
Net Debt 2022 1 997 M - -
P/E ratio 2022 39,4x
Yield 2022 0,03%
Capitalization 12 794 M 12 794 M -
EV / Sales 2022 1,19x
EV / Sales 2023 1,00x
Nbr of Employees 60 500
Free-Float 82,0%
Chart MGM RESORTS INTERNATIONAL
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Technical analysis trends MGM RESORTS INTERNATIONAL
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 30,03 $
Average target price 53,28 $
Spread / Average Target 77,4%
EPS Revisions
Managers and Directors
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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