Canada

MGM RESORTS INTERNATIONAL ANNOUNCES TRANSACTION TO ACQUIRE THE OPERATIONS OF THE COSMOPOLITAN OF LAS VEGAS

Published

5 years ago

September 29, 2021

MGM Resorts to acquire operations for $1.625 billion
Significant expected synergies and strategic value in adding The Cosmopolitan to the MGM Resorts portfolio
Transaction advances MGM Resorts’ vision to be the world’s premier gaming entertainment company

MGM Resorts International announced that the Company has entered into a definitive agreement with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas (the “property” or “The Cosmopolitan”) for cash consideration of $1.625 billion, subject to customary working capital adjustments.

The purchase price represents a multiple of approximately eight times adjusted EBITDA, inclusive of expected operational synergies and identified revenue growth opportunities.

Following the close of the transaction, MGM Resorts will enter into a 30-year lease agreement, with three 10-year renewal options, with a partnership among Stonepeak Partners, Cherng Family Trust and Blackstone Real Estate Income Trust, Inc. (“BREIT”), which will acquire The Cosmopolitan’s real estate assets. MGM Resorts will pay an initial annual rent of $200 million, escalating annually at 2% for the first 15 years and the greater of 2% or the CPI increase (capped at 3%) thereafter.

“We are proud to add The Cosmopolitan, a luxury resort and casino on the Las Vegas Strip, to our portfolio,” said MGM Resorts CEO & President Bill Hornbuckle. “The Cosmopolitan brand is recognized around the world for its unique customer base and high-quality product and experiences, making it an ideal fit with our portfolio and furthering our vision to be the world’s premier gaming entertainment company. We look forward to welcoming The Cosmopolitan’s guests and employees to the MGM Resorts family.”

“With over $500 million of capital invested to upgrade the property since 2014, The Cosmopolitan offers an incredible opportunity to expand our customer base and will provide greater depth of choices for our guests in Las Vegas,” said MGM Resorts CFO Jonathan Halkyard. “We believe that we can leverage MGM Resorts’ expertise, operating platform and other highly achievable synergies to continue providing best-in-class service, while driving growth for the property.”

Prior to the COVID-19 pandemic in the trailing 12 months ended February 29, 2020, The Cosmopolitan generated $959 million of net revenue and $316 million of adjusted EBITDAR¹. In the second quarter ended June 30, 2021, the property generated $234 million of net revenue and $92 million of adjusted EBITDAR¹.

The Cosmopolitan, a world-class contemporary luxury resort and casino, opened in December of 2010 and underwent significant capital improvements since Blackstone acquired the property in 2014. The property features:

3,032 rooms and suites that were renovated in December of 2018, most of which feature a terrace that overlooks the iconic Las Vegas Strip,
a 110,000 square-foot casino, with high-end gaming areas for VIP guests,
26 on-trend food and beverage offerings, with 19 new concepts introduced in the last four years,
a 3,200 seat theater (The Chelsea),
Marquee nightclub and dayclub that hosts top DJs from around the world,
243,000 square feet of centrally located meeting space, featuring state-of-the-art technology to accommodate both large and small groups,
21,000 square feet of leased retail space, and
a 40,000 square foot spa and fitness facility.

The transaction is expected to close in the first half of 2022, subject to regulatory approvals and other customary closing conditions.

Canada

XSOLLA STRENGTHENS COMMITMENT TO ATLANTIC CANADA’S GROWING GAME INDUSTRY WITH EXPANDED EVENT PRESENCE

Published

3 days ago

June 3, 2026

GamingAmericas.com

xsolla-strengthens-commitment-to-atlantic-canada’s-growing-game-industry-with-expanded-event-presence

Global Video Game Commerce Company To Support Industry Growth Through Panels, Workshops, And Community Engagement Across Atlantic Canada

Xsolla, a leading global video game commerce company, today announced its participation in two major gaming industry events taking place across Atlantic Canada from June 3-5, 2026, reinforcing the company’s commitment to supporting regional game development ecosystems and fostering industry collaboration.

Xsolla will participate in both Game Invest East and XP Game Connect Atlantic, joining developers, publishers, investors, and industry leaders for discussions centered on the future of game development, investment, and innovation in the local area.

At Game Invest East, held in partnership with Scaffold, Xsolla will contribute to conversations around funding, growth opportunities, and the evolving business landscape for game studios.

Featured on the panel titled “If You Can Make It Here,” Xsolla’s Manny Hachey, Senior Director of Developer Success, joins Kate Edwards, CEO and Principal Consultant of Geogrify, and Amir Satvat, Business Development Director at Tencent Games, founder of Always Supporting the Games Community (ASGC), and a 2026 GamesBeat Visionary Award honoree, to explore how new regions and new entrants can survive and thrive in disruptive times.

Hachey, a native of Atlantic Canada, was personally requested by Scaffold to represent Xsolla at the event — a homecoming that adds a personal dimension to the panel’s central thesis. Having built her career and made her mark in Germany’s games industry, she returns with a firsthand perspective on what it takes to leave, build something meaningful abroad, and come back with proof of concept.

Xsolla will continue its Atlantic Canada engagement at XP Game Connect Atlantic in Halifax on June 5. John Nguyen, Regional Vice President, Canada at Xsolla, and Ted DiNola, Developer Evangelist at Xsolla, will host a workshop titled ‘Full Picture to Fast Lane: Xsolla Ecosystem Overview & Live SDK 3 Integration’, providing practical insights and actionable strategies for developers navigating today’s rapidly evolving gaming market.

Nguyen will also host a panel titled, ‘What Does the Future of Game Development Look Like in Atlantic Canada?’ where he will be joined by industry experts, including Ryan Filsinger from Iron Fox; Shawn Woods, CEO at Alpha Dog and VP of Interactive Society of Nova Scotia; George Greer, Founder of Besszong; and Jade Yhap, President of Interactive NB. The panel will explore the region’s growing role in the global games industry and the opportunities ahead for studios, talent, and ecosystem partners.

John Nguyen, Regional Vice President, Canada, at Xsolla

“Atlantic Canada continues to emerge as an exciting hub for game development talent and innovation,” said John Nguyen, Regional Vice President, Canada, at Xsolla. “Xsolla is proud to support these events and contribute to conversations that help empower developers, build ecosystems, strengthen industry connections, and accelerate growth across the region.”

Berkley Egenes, Chief Marketing & Growth Officer at Xsolla

“Events like Game Invest East and XP Game Connect Atlantic are critical for building stronger connections across the games industry,” said Berkley Egenes, Chief Marketing & Growth Officer at Xsolla. “Atlantic Canada has a growing community of talented developers, creators, and industry leaders, and we’re excited to be part of conversations that help to shape the future of gaming in the region while supporting studios at every stage of growth.”

Through its participation in these events, Xsolla aims to deepen relationships within the Atlantic Canadian game development community while supporting knowledge-sharing, collaboration, and long-term ecosystem growth.

For more information about Xsolla’s participation in these events across Atlantic Canada, visit: xsolla.pro/Atlantic-Canada

The post XSOLLA STRENGTHENS COMMITMENT TO ATLANTIC CANADA’S GROWING GAME INDUSTRY WITH EXPANDED EVENT PRESENCE appeared first on Americas iGaming & Sports Betting News.

Ben Scobie-Trumper Head of Sales at mkodo

GGPoker selects GeoLocs geolocation service for regulated Ontario market

Published

3 days ago

June 3, 2026

Wladimir P.

ggpoker-selects-geolocs-geolocation-service-for-regulated-ontario-market

mkodo’s GeoLocs will handle in-platform location checks for GGPoker players in Ontario, removing the need for a separate verification app.

GGPoker has selected GeoLocs by mkodo as its geolocation service provider for the operator’s regulated Ontario offering.

Under the partnership, GeoLocs will provide in-platform location verification for GGPoker players across Ontario, with the aim of supporting regulatory compliance without requiring an additional app download or separate approval process.

“Our priority is to ensure players have a seamless experience on GGPoker whilst staying fully compliant with regulations. We chose GeoLocs because of their proven expertise, industry and regulatory knowledge and the fact that players don’t need to verify location through a separate app or download.” – Sarne Lightman, Managing Director of GGPoker.

“The partnership with GGPoker is very exciting. We’re proud to support a globally recognised operator in delivering a seamless, compliant player experience in Ontario. With Alberta opening in July, the partnership with GGPoker in Ontario further reinforces GeoLocs’ expansion across the Canadian gaming market.” – Ben Scobie-Trumper, Head of Sales at mkodo.

GeoLocs is a geolocation product built by mkodo for regulated markets, supporting web and mobile location checks for gaming, sports betting, poker and lottery operators, according to the company.

The post GGPoker selects GeoLocs geolocation service for regulated Ontario market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Business Development

Xsolla expands Atlantic Canada event push with Game Invest East and XP Game Connect

Published

3 days ago

June 3, 2026

Wladimir P.

xsolla-expands-atlantic-canada-event-push-with-game-invest-east-and-xp-game-connect

Xsolla will take part in two Atlantic Canada industry events—Game Invest East and XP Game Connect Atlantic—running June 3-5, 2026, as it increases its presence in the region’s game development ecosystem.

The company said it will join discussions with developers, publishers, investors, and other stakeholders focused on game development, investment, and innovation. At Game Invest East, held in partnership with Scaffold, Xsolla will participate in a panel titled “If You Can Make It Here.” Xsolla’s Manny Hachey, Senior Director of Developer Success, will appear alongside Kate Edwards, CEO and Principal Consultant of Geogrify, and Amir Satvat, Business Development Director at Tencent Games, founder of Always Supporting the Games Community (ASGC), and a 2026 GamesBeat Visionary Award honoree.

Xsolla’s Halifax stop comes on June 5 at XP Game Connect Atlantic. John Nguyen, Regional Vice President, Canada at Xsolla, and Ted DiNola, Developer Evangelist at Xsolla, will host a workshop titled “Full Picture to Fast Lane: Xsolla Ecosystem Overview & Live SDK 3 Integration.”

Nguyen will also host a panel, “What Does the Future of Game Development Look Like in Atlantic Canada?”, joined by Ryan Filsinger from Iron Fox; Shawn Woods, CEO at Alpha Dog and VP of Interactive Society of Nova Scotia; George Greer, Founder of Besszong; and Jade Yhap, President of Interactive NB.

“Atlantic Canada continues to emerge as an exciting hub for game development talent and innovation,” said John Nguyen, Regional Vice President, Canada, at Xsolla. “Xsolla is proud to support these events and contribute to conversations that help empower developers, build ecosystems, strengthen industry connections, and accelerate growth across the region.”

The post Xsolla expands Atlantic Canada event push with Game Invest East and XP Game Connect appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.