MGM Resorts, Boyd Gaming Partner To Expand Mobile, Online Gaming Throughout The United States
Unprecedented Partnership Will Increase Each Company's Market Access to Pursue Online Gaming, Sports-Betting Opportunities
Jul 30, 2018, 02:00 ET
LAS VEGAS, July 30, 2018 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) and Boyd Gaming Corporation (NYSE: BYD) today announced an unprecedented partnership to significantly increase each company's market access and customer base throughout the United States.
Under this partnership, MGM Resorts and Boyd Gaming will both have the opportunity to offer online and mobile gaming platforms – including sports betting, casino gaming and poker – in jurisdictions where either Boyd Gaming or MGM Resorts operate physical casino resorts and online licenses are available. Under this market access agreement, each company will have a path to expand their online and mobile gaming presence across 15 states.
"We are excited to team yet again with Boyd Gaming on this unprecedented partnership, which allows us to fully engage with the almost 30 million M life Rewards members throughout the country," said MGM Resorts Chairman & CEO, Jim Murren. "We look forward to expanding our entertainment options for guests beyond their visits to our land-based resorts."
"Our industry is evolving, providing opportunities for growth through new forms of gaming like online and mobile gaming," said Boyd Gaming President and CEO Keith Smith. "Thanks to our partnership with MGM Resorts, Boyd Gaming will have the opportunity to potentially add an online presence in five additional states, positioning us for significant future growth as our respective companies take a leadership role in our industry's evolution."
Including all recently announced acquisitions and the Aug. 24 opening of MGM Springfield, MGM Resorts and Boyd Gaming combined will operate land-based gaming facilities in 15 states (listed below). This partnership allows each company to leverage their scale to create a nationwide approach to online and mobile sports betting, real money casino gaming and poker. In accordance with the terms of the agreement, MGM intends to provide the acquired market access to its newly formed joint venture with GVC Holdings PLC.
As states continue to legalize interactive gaming, both MGM Resorts, through its newly formed joint venture, and Boyd Gaming will be poised to offer products in mobile and online sports betting, real money casino gaming and poker products where legally applicable.
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 28 unique hotel offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company opened MGM Cotai in Macau in February 2018. It is also developing MGM Springfield in Massachusetts and debuting the first international Bellagio branded hotel in Shanghai. The 78,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information visit us at www.mgmresorts.com.
ABOUT BOYD GAMING
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 24 gaming entertainment properties in seven states. The Company currently operates nearly 1.4 million square feet of casino space, more than 31,000 gaming machines, 630 table games, 9,400 hotel rooms and more than 280 food and beverage outlets. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service. For additional Company information and press releases, visit www.boydgaming.com.
Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in MGM Resorts' public filings with the SEC. MGM Resorts has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the expected benefits to be achieved as a result of market access agreement. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts' Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
***States:
- Nevada (MGM & Boyd)
- Maryland (MGM)
- Massachusetts (MGM – upon opening of MGM Springfield)
- Michigan (MGM)
- Mississippi (MGM & Boyd)
- New York (MGM – pending closure of Empire City purchase)
- Illinois (Boyd – MGM pending sale of Grand Victoria)
- Indiana (Boyd)
- Iowa (Boyd)
- Kansas (Boyd)
- Louisiana (Boyd)
- Pennsylvania (Boyd – pending closure of purchase of Valley Forge)
- Ohio (Boyd – pending closure of purchase from Pinnacle)
- Missouri (Boyd – pending closure of purchase from Pinnacle)
- New Jersey – (MGM)
SOURCE MGM Resorts International