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MGM News8 articles
BetMGM's $1,500 Bonus Bets: Sports Revenue Stalls
BetMGM's new-customer promotion offers up to $1,500 in bonus bets, but Q2 sports revenue was flat. Parent stocks dipped, and the offer may not boost profitability.
DraftKings Surges 4% as Court Ruling Bolsters State Licensing Model
DraftKings (DKNG) climbed 4.3% after a federal appeals court backed state licensing, reinforcing its regulatory edge. The stock closed at $25.26 with volume up 64%.
DraftKings Stock Climbs 4.6% as Promo Push Sparks Customer Growth Concerns
DraftKings shares gained 4.55% to $26.17 on Friday, outperforming the Nasdaq, as a $150 bonus bet promotion drove customer acquisition. However, Q2 metrics show revenue per payer fell 13% while marketing expenses rose 38%.
DraftKings Rises 5% as MLB Promo Costs Cloud Margin Outlook
DraftKings stock climbed 5.3% as MLB promotions boosted interest, but Q2 results reveal declining revenue per user and compressed margins. Analysts see upside despite lowered targets.
Diller's $18B MGM Bid Reshapes Las Vegas Casino Landscape
Barry Diller's People Incorporated offers $48.30 per share for MGM Resorts, a bid that could take the Las Vegas giant private and value it at over $18 billion.
Fertitta's $17.6B Caesars Buyout Gets Board Nod, Stock Lags Offer
Fertitta Entertainment buys Caesars for $17.6B ($31/share). CZR stock up 1.6% to $29.25, below offer. Go-shop until July 11 for higher bids.
Wynn Resorts Shares Slide on UAE Delay and $900M Macau Expansion
Wynn Resorts stock dropped 6.7% Friday despite beating Q1 profit estimates, as a delayed UAE opening and a $900M+ Macau expansion raised capital concerns.
MGM Resorts Shares Slide Amid Broader Market Sell-Off, Las Vegas Concerns
MGM Resorts International shares declined sharply on Friday, underperforming peers, as a broad market downturn amplified investor concerns over softening demand in its core Las Vegas operations.