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MarketScreener Homepage  >  Equities  >  Nyse  >  MGM Resorts International    MGM

MGM RESORTS INTERNATIONAL

(MGM)
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MGM Resorts International : BETMGM TO LAUNCH MOBILE SPORTS BETTING IN TENNESSEE ON NOV. 1

10/29/2020 | 11:05am EST

NASHVILLE, Tenn. - (October 29, 2020) - BetMGM today announced plans to launch its market leading sports betting app in Tennessee on Nov. 1.

'We've been eagerly working with regulators in Tennessee to make this momentous launch a possibility and look forward to introducing the state's passionate fan bases to the excitement of betting on sports with BetMGM,' said BetMGM CEO Adam Greenblatt. 'Our relationship with MGM Resorts enables BetMGM users in the Volunteer State to earn rewards, from hotel suites to dinners at award-winning restaurants, all while engaging in the excitement of our cutting-edge sports betting experience.'

BetMGM's integration with MGM Resorts' M life Rewards program allows BetMGM users in Tennessee to translate their gameplay into world-class experiences at iconic resort properties, from Bellagio and MGM Grand in Las Vegas, to Beau Rivage in Mississippi and MGM National Harbor in Maryland, among others.

This announcement comes on the heels of BetMGM's partnership with the NFL's Tennessee Titans - the first-of-its-kind for the state between a professional sports team and a sports betting platform. Tennessee marks the seventh state where BetMGM's sports betting app is available, joining Colorado, Indiana, Mississippi, Nevada, New Jersey and West Virginia.

The BetMGM app offers an exciting and user-friendly sport betting experience, making it easy to customize pre-game, live in-play, futures and parlay wagers. Sports bettors can select from a wide assortment of bet options as well as teams and leagues to bet on.

As BetMGM continues to expand its sports betting platforms to new states, responsible gaming education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly.

The BetMGM app will be available for download in Tennessee as of Nov. 1 on both iOS and Android, and will also be accessible via desktop at www.betmgm.com. For more information, follow @BetMGM on Twitter.

# # #

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 and GVC Holdings, 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 GVC'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 http://www.betmgminc.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.

CONTACTS

BetMGM

Elisa Richardson

press@betmgm.com

Kirvin Doak Communications

Natalie Mounier/Robert Flicker

betmgm@kirvindoak.com

Disclaimer

MGM Resorts International published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 16:04:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 5 284 M - -
Net income 2020 -1 052 M - -
Net Debt 2020 8 299 M - -
P/E ratio 2020 -14,0x
Yield 2020 0,58%
Capitalization 13 954 M 13 954 M -
EV / Sales 2020 4,21x
EV / Sales 2021 2,49x
Nbr of Employees 72 000
Free-Float 87,3%
Chart MGM RESORTS INTERNATIONAL
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Technical analysis trends MGM RESORTS INTERNATIONAL
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 23,06 $
Last Close Price 28,25 $
Spread / Highest target 13,3%
Spread / Average Target -18,4%
Spread / Lowest Target -46,9%
EPS Revisions
Managers
NameTitle
William Joseph Hornbuckle President, Chief Executive Officer & Director
Paul Jude Salem Chairman
Corey I. Sanders Chief Financial Officer & Treasurer
Roland A. Hernandez Lead Independent Director
Alexis Margaret Herman Independent Director
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