Industry News
MGM Resorts Plans to Expand its Online Operations Globally
MGM Resorts has outlined plans to expand its online gaming channels globally.
Speaking at the Bank of America Securities 2021 Gaming and Lodging Conference last Friday, MGM’s Chief Financial Officer Jonathan Halkyard said the company was actively steering itself towards an asset-light model that would see it focus primarily on gaming operations rather than ownership, while continuing expansion of its online gaming business BetMGM.
However, it is likely that this expansion will eventually continue overseas given the absence of substantial new land-based resort opportunities and MGM’s reluctance, outside of Macau and Japan, to invest in such resources.
MGM Resorts holds a controlling stake in MGM China, operator of MGM Macau and MGM Cotai, and is leading a consortium looking to develop an IR in Osaka, Japan.
“When I think about what this company needs to be, definitely the best-known brand, most trusted brand in gaming,” Halkyard said.
“Casual, high-end and hopefully in as many distribution points with the highest availability in this country.
“Then to the extent that it is regulated, online offerings internationally.
“Realistically the opportunity for integrated resorts is not going to be in a wide number of jurisdictions and the capital cost can be pretty extreme but in our spots – Macau and Japan – we would expect to be a player there. So the best brands, [most] trusted brands available anywhere and premier in gaming.”
Halkyard paid particular attention during his appearance at the Bank of America conference to the long-term prospects of the company’s online gaming entity BetMGM, a joint venture partnership with Entain PLC.
MGM is looking to implement an omni-channel strategy for BetMGM by which online customers globally would become members of MGM’s M life Rewards programme and, therefore, receive points and rewards for their online play.
Halkyard said the company would continue to simplify its business model in the coming years.
“MGM has in the past flirted with non-gaming instances of its brand and we have over the past six months, Bill (Hornbuckle, CEO) and I and some of the management team, been unwinding and shutting some of those investments,” he said.
“They’re all small but they take financial resources and management resources, so we’re getting out of those.
“We’ve been through the CityCenter [sale], the MGP (MGM Growth Properties LLC) deal, so less financial engineering and more simplified and clear about what we are, which is an OpCo.”
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Industry News
GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office
Groupe Partouche has acquired a building, strategically located at Place de l’Etoile in Paris, at 10 avenue de la Grande Armée.
With a surface area of over 8000 m² spread over seven levels, this building will undergo development work to accommodate its Parisian gaming club currently located on rue de Berri.
This building will also house the headquarters of Groupe Partouche.
The post GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office appeared first on European Gaming Industry News.
The International Gaming Standards Association (IGSA) will exhibit at ICE Barcelona at stand 3M33. Additionally, IGSA President Mark Pace will speak Tuesday, January 21 on the panel, Responsible Gaming in Land-based Gambling: Is it Falling Behind Online Innovations? Pace will share his thoughts on current technologies being used for responsible gaming in online gaming and how they can be applied to land-based gaming.
“IGSA continues to engage with the gaming community and ICE Barcelona is one of the best gaming shows to do so at. We encourage the community to partner with us. IGSA will be at the ICE show on stand 3M33, and we invite our members and the public to stop by for an overview of our new membership levels, designed for maximum participation by the industry. For more information on the event, we invite the public to visit the ICE website for full details,” said Pace.
The post IGSA to Exhibit at ICE Barcelona appeared first on European Gaming Industry News.
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