MGM Resorts receives $700 million from its real estate investment trust. This will help MGM resorts international deal with the hospitality and entertainment issues that these industries are facing due to the Coronavirus pandemic. This can also help MGM turn things around with the help of sports betting. A lot of Bookie PPH have sportsbooks that are doing remarkably well, all things considered.
MGM Growth Properties has redeemed 23.5 million of MGM Resorts’ operating partnership units. This, in turn, results in the casino company’s ownership to just a 53% stake. The additional money to MGM resorts is part of the remaining amount with their agreement with MGM Growth to buy up to $1.4 billion wirth of M5GM Resorts’ units for cash. MGM Growth also also the land of 8 properties in Las Vegas, aside from other properties across the country. Once the transaction is finished, MGM Resorts will have 149 million units. They also own MGM Springfield. In addition, they also have 56% interest in MGM China, and 50% interest in CityCenter Las Vegas.
MGM Resorts Plans
MGM Resorts plans to use the fund for general corporate purposes, and industry experts see the possibility of this funding BetMGM. Much like the best bookie software, many gambling providers are looking to expanding sports betting operations to take a piece out of a growing sports betting industry. BetMGM is eager to expand and launch sportsbooks in key US states.
BetMGM is currently operational in 8 states, and will be launching their sportsbook in Michigan before the year ends. They will also be opening online sports betting and an online casino for Pennsylvania. They also recently launched a parternship live casino in New Jersey. With the many possibilities, one may look at sportsbook pay per head reviews and see the different gambling options one can offer online.