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MGM's BetMGM Expands Into Missouri With New Sportsbook & Mobile App
ZACKS· 2025-12-02 17:50
Core Insights - BetMGM has launched mobile and in-person sports betting in Missouri, partnering with Century Casinos to enhance its market presence and product offerings [1][2] Group 1: BetMGM Launch and Features - Customers can place bets online via the BetMGM mobile app or in person at the new BetMGM Sportsbook located in Century Casino & Hotel Cape Girardeau [2] - The app offers a user-friendly experience with access to major betting markets, live wagering, research tools, and responsible gaming features [3] - New players in Missouri can place a first bet up to $1,500 with bonus bets if they lose, alongside exclusive promotions through a partnership with the Kansas City Chiefs [3] Group 2: Financial Performance and Growth - BetMGM has shown strong growth, with record performance in Q3 2025 leading to a raised full-year EBITDA outlook to approximately $200 million, an increase of nearly $450 million from the previous year [5][7] - The North American and European segments of BetMGM reported exceptional results, with the company expecting at least $100 million in returns for Q4 from a total investment of $630 million [5][7] Group 3: MGM Resorts' Market Position - MGM Resorts has seen its shares increase by 10.9% over the past six months, outperforming the Zacks Gaming industry's growth of 9.6% [6] - The company is well-positioned for sustainable earnings growth and aims to strengthen its leadership in the global hospitality and gaming industry, despite facing challenges such as high costs and soft trends in Las Vegas [6]
MGM YONKERS SUBMITS COMMERCIAL CASINO LICENSE APPLICATION IN NEW YORK
Prnewswire· 2025-06-26 20:15
Core Viewpoint - MGM Yonkers Inc. has submitted a $2.3 billion proposal to transform the Empire City Casino into a commercial casino and entertainment destination, aiming to benefit the local community and the State of New York [1][2][6] Group 1: Project Details - The proposal includes full renovation and expansion of existing gaming areas, a high-limit lounge, and a state-of-the-art BetMGM Sportsbook for retail sports betting [2] - Plans feature a 5,000-person capacity entertainment venue and meeting space for various performances and community events [2] - The project will also introduce three new full-service restaurants and renovate existing dining options [3] Group 2: Economic Impact - Since its opening in 2006, Empire City Casino has generated over $5 billion for New York State education, with $1.6 billion contributed since MGM Resorts took ownership in 2019 [5] - The project is expected to create thousands of direct, induced, and indirect jobs, enhancing economic activity in the region [7] - If awarded the license, 20% of generated tax revenue will be distributed, with 10% to Yonkers, 5% to Westchester County, and 5% to Rockland and Putnam counties [6] Group 3: Sustainability and Community Commitment - The proposal includes a parking garage with solar energy arrays and electric vehicle parking, showcasing MGM Resorts' commitment to sustainability [3] - Significant investments are planned for public infrastructure improvements in Yonkers, including roads and water lines [8] - MGM Resorts emphasizes building and sustaining communities as a core belief, integrating energy-efficient methods in the project [8]