MGM Resorts, BetMGM Renew Multi-Year Partnership with Major League Baseball
MGM sits 60% above its 52-week low of $29.185.
Summary
MGM Resorts and its BetMGM joint venture have renewed their multi-year partnerships with Major League Baseball, extending their roles as MLB's Official Gaming and Sports Betting Partners. This secures BetMGM's continued marketing and sports wagering access across MLB platforms and content, which is crucial for its growth strategy. MGM Resorts also maintains its exclusive Integrated Resort & Casino Partner status, supporting MLB events in Las Vegas. This news provides stability for a key business segment following recent mixed Q1 results and ongoing buyout offers for MGM.
At the time of this announcement, MGM was trading at $46.57 on NYSE in the Trade & Services sector, with a market capitalization of approximately $11.9B. The 52-week trading range was $29.19 to $51.59. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.