MGM Resorts (MGM) Launches Exclusive Live Casino With Playtech
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MGM Resorts International MGM unveiled a strategic partnership with technology leader Playtech. This collaboration aims to provide exclusive live casino content to operators in the iGaming industry.
MGM Resorts will stream live casino content, branded as ‘MGM Live,’ directly from the gaming floors of MGM Grand and Bellagio Resort & Casino in Las Vegas. This live content will be available for licensing in regulated markets worldwide outside of the United States. The offerings will include single and double-zero roulette and baccarat games, all broadcast live from these iconic Las Vegas properties.
MGM Resorts plans to expand the partnership by offering exclusive access to a variety of Playtech games, branded TV game shows, celebrity-hosted trivia shows and unique entertainment experiences synonymous with Las Vegas and MGM Resorts.
The introduction of this new live casino offering, in collaboration with Playtech and broadcast from Bellagio and MGM Grand in Las Vegas, highlights MGM's aim to lead as the top global gaming entertainment company.
This partnership signifies the company's dedication to providing outstanding experiences and extending its global reach to customers. It anticipates that the content, celebrity talent and advanced gaming experience offered under its reputable brands will establish a new benchmark in the industry. Playtech will provide players with on-demand, online access to a mix of immersive entertainment experiences directly from Bellagio and MGM Grand.
Price Performance
Shares of MGM Resorts have lost 6.7% in the year-to-date period against the industry’s 11.4% growth. Although the stock has underperformed the industry, it is likely to benefit from the increased business volume at MGM China and luxury resort properties in Las Vegas. Also, sports betting prospects and development projects and focus on digital strategies bode well.
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Sports betting and iGaming are core growth catalysts for the company. BetMGM is expected to generate significant free cash flow in the coming years. LeoVegas is anticipated to begin yielding returns from its investment period. This free cash flow should support future growth opportunities, including international and digital expansion and brick-and-mortar development. BetMGM has a long-term growth target of 20% to 25% in U.S. sports betting and iGaming. Currently, it is on track to achieve its target.
Zacks Rank & Key Picks
MGM Resorts currently carries a Zacks Rank #3 (Hold).
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