MGM Resorts International reported its third-quarter earnings, missing analysts’ expectations on both revenue and earnings per share. However, the company’s China operations saw strong growth, contributing to record consolidated net revenues for the quarter. Las Vegas operations also showed improvement, with growth in average daily rate (ADR) and occupancy.
MGM Resorts International has increased its public offering of senior notes to $850 million, reflecting strong investor interest. The proceeds will be used to repay existing debt, cover transaction costs, and for general corporate purposes.
MGM Resorts International has announced plans to issue $675 million in senior notes maturing in 2029. The proceeds will be used to repay existing debt, specifically targeting the 5.750% senior notes due in 2025. The notes are unsecured senior obligations of the Company and will be guaranteed by most of its domestic subsidiaries.
MGM Resorts’ LeoVegas division has acquired the sportsbook and online casino technology from Tipico Group Ltd., marking its second major investment in the gaming sector. This strategic move allows LeoVegas to operate a proprietary sports betting platform globally, enhancing its capabilities and streamlining user experience.
