MGM Resorts announces new employment agreement with Bill Hornbuckle

MGM Resorts International announced that it has reached a new employment agreement with CEO & President Bill Hornbuckle through 31 December 2028. As part of his new employment contract, the company has also agreed to offer Hornbuckle an advisory agreement at the end of the term to assist with its integrated resort project in Osaka, Japan until its opening.

"Bill is an exceptional, visionary leader who successfully guided the company through the COVID-19 pandemic while also positioning the business for long-term growth through new digital ventures, strategic M&A opportunities, and expansion into new international markets," said Paul Salem, Chairman of the MGM Resorts Board of Directors. "Bill has earned the trust, respect and admiration of his employees, peers, shareholders and this Board. We're thrilled that he has agreed to remain in his role for the foreseeable future."

"I am honored to continue leading this company at an exciting time of both digital growth and resort expansion in places like New York, Japan, Brazil and the Middle East. Our best days remain in front of us, and I'm thankful to our Board for their continued trust and support," said Hornbuckle. "The success we've enjoyed over the last five years is a testament to our leadership team and our employees who have embraced our culture of guest-centricity and continuous improvement. Together, we will continue to pursue our vision to be the world's premiere gaming entertainment company."

As CEO, Hornbuckle oversees all aspects of MGM Resorts' strategy, operations and hospitality and gaming development projects. He leads the company's global development efforts and its digital gaming strategy. He is a member of MGM Resorts' Board of Directors and serves as Co-Chairman of the Board of Directors of MGM China Holdings, which operates resorts in Macau. He is also Chair of the U.S. Travel Association, a non-profit organization focused on growing travel and tourism to the United States, and he previously served as Chairman of the U.S. Travel and Tourism Advisory Board, which advises the U.S. Secretary of Commerce on policy, regulation, programs and issues that impact the travel and tourism industry in the United States.

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BetMGM Progressive Jackpot Pool surpasses $1.6 million

The progressive jackpot at BetMGM Casino in Ontario has reached a record-breaking high of over $1.6 million CAD. It marks the largest jackpot in BetMGM’s history in the province. Players can participate in the progressive jackpot by playing online in Ontario at BetMGM Casino and Wheel of Fortune Casino.

“This represents a significant milestone for BetMGM Casino in Ontario,” said Matt Prevost, Chief Revenue Officer, BetMGM. “We are dedicated to offering players the best iGaming experience, which includes a wide variety of games, jackpots, and readily available responsible gambling tools.”

BetMGM’s progressive jackpot pool consists of exclusive in-house produced games by Entain. Nineteen slot titles offer players the chance to win the progressive jackpot that grows each time the game is played but the jackpot is not won. Some of BetMGM’s exclusive progressive slot titles include:

- Bison Fury

- MGM Grand Millions

- Bison Fury Megaways

- Loot'enKhamun & The Dead Sea Scrolls

- Melon Madness

BetMGM awarded $14 million (CAD) in progressive jackpot payouts to BetMGM Casino players in Ontario throughout 2024. Also in 2024, BetMGM awarded the largest jackpot in the history of legalized iGaming in New Jersey ($6.5 million USD) and another operator record jackpot in West Virginia ($923,347).

BetMGM’s award-winning online casino is home to over 5,400 titles across North American markets and one of the largest state-by-state exclusive progressive jackpot networks. BetMGM’s jackpot network currently consists of over 25 games including popular titles such as MGM Grand Millions, Bison Fury, and 15 Lanterns.

As BetMGM continues to expand into new markets and introduce new features, responsible gaming remains a key focus. Additionally, BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM's mobile and desktop platforms, customers can receive the same GameSense experience they have grown to rely on at MGM Resorts properties nationwide. This complements BetMGM's already existing responsible gambling tools which serve to provide customers with an entertaining and safe digital experience.

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MGM Grand Hotel and Casino in Las Vegas announces $300 million room and suite remodel

LAS VEGAS - MGM Grand Hotel & Casino Las Vegas is revealing details surrounding its $300 million remodel encompassing all of the hotel's 4,212 rooms and suites within its main tower. The transformation, which is slated for completion in December 2025, is set to enhance the overall guest experience with modern, sophisticated design elements inspired by the flair of the disco era. The remodeled rooms will join a vibrant lineup of new dining and entertainment experiences set to open at MGM Grand later this year.

"MGM Grand has long been recognized as the center of entertainment and excitement in Las Vegas and these newly remodeled rooms, coupled with new attractions on the horizon, demonstrate our commitment to evolving the guest experience for both leisure and business travelers," said Mike Neubecker, President & COO of MGM Grand. "These new rooms are a significant milestone in the property's evolution as MGM Grand positions itself for the exciting developments set for the south end of The Strip."

The first phase of the main tower's newly remodeled rooms will be available for reservation beginning 1 March 2025.

These new rooms and suites add to the diverse collection of remodeled accommodations available at MGM Grand, including the 700-room Studio Tower which was completed in 2022.

Room Design Highlights

Designed by global architecture firm Gensler, in partnership with MGM Resorts Design & Development, the main tower remodel draws inspiration from the glamour of the disco era, seamlessly combined with modern elements to create an atmosphere that is both playful and elegant. Bold artwork and dynamic patterns will take guests on a journey through time, celebrating the resort's rich history and legacy of excitement and entertainment, while embracing its forward-looking vision.

The remodeled guest rooms are thoughtfully designed to meet the evolving needs of contemporary travelers by blending functionality, comfort and style. Bathrooms are upgraded with spacious walk-in showers with sleek glass enclosures and bright porcelain finishes creating a serene, spa-like ambiance. Integrated closets, complete with mirrored, illuminated interiors, will maximize storage and streamline the room's layout for effortless organization. Enhanced blackout drapery will eliminate light for a restful sleep, complemented by brighter materials for a more spacious feel. Wall-mounted TVs will free up valuable surface space and minibar units will now include separate guest-use refrigerators for added convenience.

King Rooms will feature rich walnut wood finishes, warm gray textured wall coverings and vibrant carpet designs. Meanwhile, Queen Rooms will showcase lighter gray stone finishes, vertical sconce accents and tailored headboards, providing a spacious and sophisticated retreat. Upgraded media consoles across all rooms will feature a striking starburst wood pattern, enhancing the overall aesthetic. For added guest convenience, charging stations with USB, USB-C and traditional outlets will be conveniently located on both sides of the bed, while Smart TVs will elevate the in-room entertainment experience.

New Selection of Suites

With this remodel, MGM Grand will add 111 suites to its main tower for a total of 753, ranging in size from 675 to 2,572 square feet.

These newly designed suites will feature a refined blend of dark ebony and walnut wood finishes, accentuated by lighter tones and sheer roller shades that create a brighter, more inviting atmosphere. The livable entertainment areas will include comfortable sectionals and lenticular artwork that transforms based on the viewer's perspective. Bathrooms in the suites will also be fully remodeled, offering double mirrors and new showers. Suite upgrades include reconfigured layouts with enhanced privacy, multi-functional spaces for work and entertainment, and elevated finishes like quartz bathroom benches and illuminated mirrors.

Artwork

Original artwork will play an important role in the design, with each room and corridor featuring unique pieces that reflect the past, present and future of MGM Grand. Throughout the corridors, guests will be greeted by artwork that tells a story of exploration and self-discovery, including LED art pieces reminiscent of the vibrant disco era. The floral and dreamy patterns of the carpet, along with light wood wall coverings, will create a warm welcome to the newly remodeled rooms.

New Resort Experiences

In addition to the hotel's newly designed rooms and suites, MGM Grand is introducing several new dining venues and attractions, enriching the fully integrated resort experience and furthering its legacy as a premier entertainment destination. Developments include the early 2025 opening of Netflix Bites, featuring cuisine inspired by hit Netflix shows.

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Potomac Winter Poker Open to return to MGM National Harbor

The Potomac Winter Poker Open is making its grand return to MGM National Harbor, 5-17 February. The region’s preeminent poker tournament will take over the premier entertainment destination for 13 days of thrilling events and major winnings. Featured events include a $1,000,000 guaranteed Opener and $200,000 guaranteed No Limit Hold’em High Roller. Additional events include a Cakes Classic Bounty, Rookie Event, Double Stack No Limit Hold’em and more.

MGM National Harbor no longer withholds any auto-gratuity from the buy-in for staff. In lieu of withholding, each event will offer an optional Add-On, included in the total Buy-In listed on the schedule. Starting stacks represented, include the optional add-on.

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MGM Resorts and Marriott to bring W Las Vegas to the Strip

MGM Resorts International and Marriott International, Inc. announced plans to convert an iconic property on the Las Vegas Strip to the W Hotels brand within the Marriott Bonvoy portfolio, continuing the brand's storied evolution. Anticipated to complete its conversion later this year, W Las Vegas marks the latest step in the companies' long-term strategic licensing agreement announced in July 2023.

"Our relationship with Marriott has far exceeded our expectations, demonstrating the power of its brand portfolio and the strength of their distribution channels," said Steve Zanella, President of MGM Resorts Operations. "W Las Vegas, the latest hotel to come to life as part of our collaboration, will allow our guests to access a new luxury lifestyle experience recognized worldwide for its distinct personality, dynamic programming and elevated service culture."

"We're thrilled to continue working with MGM to bring W Las Vegas to the legendary Las Vegas Strip," said Leeny Oberg, Marriott International Chief Financial Officer and EVP, Development. "This agreement is a pivotal moment in our collaboration, which continues to expand hospitality and entertainment offerings for guests. As a luxury brand rooted in bold design and nightlife, W Hotels is well-positioned to elevate experiences for travelers in this destination."

Since MGM Collection with Marriott Bonvoy officially launched in March 2024, bookings are significantly outpacing anticipated projections with hundreds of thousands of room nights booked. This collaboration between two trusted hospitality brands means more than 200 million Marriott Bonvoy members can enjoy unique benefits and redeem points at MGM Resorts' destinations while MGM Rewards members can status match and receive member benefits at Marriott's global portfolio of approximately 9,000 properties.

Located on the Mandalay Bay Campus, the property is slated to officially join the W Hotels portfolio later this year, with additional plans for the property to be announced in the future.

With the addition of W Las Vegas, MGM Collection with Marriott Bonvoy will encompass 12 destinations on the Las Vegas Strip, including Bellagio, a Luxury Collection Resort & Casino, ARIA Resort & Casino, Autograph Collection, The Cosmopolitan of Las Vegas, Autograph Collection, and Mandalay Bay Resort & Casino, MGM Collection, among others.

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Potomac Poker Open returns to MGM National Harbor

The Potomac Poker Open is going all in at MGM National Harbor from 14-26 August. The region’s preeminent poker tournament is set to take over the entertainment destination for 13 days of exciting events and major winnings. Featured events include No Limit Hold’em Multiflights with $1,000,000 guarantees, $200,000 Monumental Stacks, and a $1,000,000 guarantee Main Event.

The tournament is set to include four mixed game events, and the winners of all 21 events will receive a trophy in addition to their prize.

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BetMGM's 2023 net revenue makes a jump

BetMGM, LLC, one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International and Entain plc is today providing an update on performance for FY 2023.

- BetMGM delivered a strong FY 2023 financial performance (based on unaudited results) Net revenue from operations grew 36% year over year to $1.96 billion, at the upper-end of $1.8-$2.0 billion guidance range Same-state growth in net revenue from digital operations of 14% Key metrics across both iGaming and Online Sports Betting improved year over year, including average monthly actives, FTDs, hold percentages, bonus levels, NGR per active, and CPAs EBITDA positive in the second half of 2023 with expected FY 2023 EBITDA loss of approximately $67 million

- Established as a leading operator across North America, live in 28 markets with access to 49% of adult population Four new markets launched during the year: Ohio (online and retail), Massachusetts (online and retail), Puerto Rico (online) and Kentucky (online and retail) 14% market share in Sports Betting and iGaming in the U.S. and 22% in Ontario6 Secured market access with Charlotte Motor Speedway ahead of expected March 2024 launch of newly legalized sports betting market in North Carolina, pending regulatory approval

- Further operational progress supported by technology, product and capability enhancements, positions BetMGM to drive growth going forward Seamless execution of single account single wallet across 21 markets ahead of the 2023 NFL season Enhanced sports betting experience with improved speed, broader market coverage and new differentiated bet types New in-house and exclusive games, including Dual Play Roulette, as well as largest progressive jackpots underpinning market leading iGaming offering

- On 4 December, BetMGM business update set out strategic roadmap to drive growth in 2024

Expanding the depth and breadth of our sports offering by leveraging Angstrom's sophisticated modelling to support innovative and original products, including player-popular Same Game Parlay, SGP+ and new LIVE SGP products Continue to deliver market-leading and engaging gaming experiences that are more personalized and differentiated, including exclusive and MGM-branded content

Increasingly investing in marketing and player acquisition as sports product and player retention continue to improve Unlocking BetMGM's unique omnichannel advantages, particularly in Las Vegas, Nevada Launched new improved app in January with single wallet functionality expected later in 2024 Leveraging Las Vegas sports teams and tentpole events, for example BetMGM's first Big Game commercial featuring Tom Brady, Wayne Gretzky and Vince Vaughn

- Reiterating guidance from December 2023 business update of targeting approximately $500 million of EBITDA in 2026

- Recognized as Digital Operator of the Year by Global Gaming Awards, Online Casino of the Year by American Gambling Awards, and Casino Operator of the Year by EGR North America and SBC Awards North America.

- Ongoing commitment to industry leadership in player safety and responsible gaming Secured five-year extension with GameSense program, providing player tools and capabilities to play responsibly Partnered with nine NFL teams to promote responsible gambling in stadiums during games Piloted the first of its kind program with Kindbridge Health to evaluate efficacy of offering self-excluded individuals' referrals for problem gambling treatments Adam Greenblatt, CEO of BetMGM, commented:

"Our performance in 2023 demonstrates our commitment to delivering on our promises. We were able to achieve strong organic growth, while executing against key strategic initiatives that lay the foundation for 2024 and beyond. The attainment of EBITDA profitability over the last three quarters of 2023 validates the effectiveness of our business model and provides the basis from which to invest further in expanding our sports offering through the integration of Angstrom and leveraging our largely untapped Las Vegas omni-channel advantages. With this comprehensive roadmap in place, we can focus on driving accelerated player acquisition and retention and strengthening our current market position. This clear strategic direction underpins our confidence in achieving our targets and building long-term, sustainable value for shareholders."

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MGM aims to transition Empire City Casino to MGM Empire City

MGM Resorts International today unveiled its vision to transition Empire City Casino by MGM Resorts into a world-class entertainment destination, MGM Empire City, if awarded a commercial casino license for its historic Yonkers, New York site. Key elements of the phase one design include a comprehensive casino floor redevelopment and expansion, 5,000-capacity entertainment venue, state-of-the-art BetMGM sportsbook, food and beverage outlets by celebrated chefs, cocktail bars and lounges, technologically advanced meeting spaces and more.

MGM RESORTS' VISION FOR MGM EMPIRE CITY

MGM Empire City's plans feature a complete property redevelopment shifting from a video lottery terminal racino into a full-scale commercial casino with live-dealer table games, the newest slot machines and a high-limit gaming area for the most discerning casino guests. The design includes the addition of several new destination dining experiences, including a modern steakhouse, a casual quick-serve Italian American experience and an authentic Asian noodle bar and eatery. Existing venues Big Kitchen food court and The Pub sports bar will also transform into new, high-end food concepts. The plan also includes development of a new parking garage to significantly enhance the guest arrival experience while also providing visitors with direct and convenient access to the casino and its amenities.

The entertainment venue will be the first-of-its-kind in the region, hosting A-list performers and events in a spectacular 5,000-capacity setting with unrivaled views, cutting-edge acoustics and dedicated amenities. MGM Resorts is renowned for its entertainment offerings as the third-largest ticket seller for live performances in the United States and the capacity to seat more than 100,000 people a night across entertainment venues around the world. MGM Empire City's entertainment venue will boost the region's economy, attracting new events to the market and bringing together locals and tourists alike.

A commercial casino license will also enable MGM Empire City to introduce The BetMGM Sportsbook & Lounge, offering guests lively game day experiences with a 112-foot wrap-around LED screen, stadium seating, VIP areas, multiple betting kiosks and food and beverage operations.

"MGM Resorts has a long and proud history of delivering world-class entertainment and gaming experiences, and we couldn't be more excited to build on that track record at MGM Empire City," said Bill Hornbuckle, President and Chief Executive Officer, MGM Resorts. "A full-scale casino and entertainment destination will provide unparalleled experiences, create thousands of jobs, boost the state's economy, and be a game-changer for the entire region."

Yonkers Mayor Mike Spano said, "This is a momentous opportunity for the City of Yonkers, and I'm excited for the future, knowing the development of MGM Empire City will create thousands of good-paying union jobs and the economic growth that will ensure our city continues to flourish and prosper. Already drawing millions of guests annually, this development plan will solidify Empire City's status as a premier entertainment destination. Generations of Yonkers residents have worked at, enjoyed, and supported this historic property for 125 years, and I am excited about the significant impacts this project will have for residents now and for the next 125 years."

Ed Domingo, General Manager of Empire City Casino, said, "When MGM Resorts acquired Empire City Casino in 2019, we knew we were becoming stewards of a historic institution that has served generations of New Yorkers as a gathering place for entertainment, a source of jobs for the community, and a driver of economic development. As MGM Resorts prepares to enter its sixth year at the helm of this iconic property, we are excited to be able to combine the knowledge we have developed of the New York market with our expertise as a global entertainment brand, to bring the next chapter of New York's entertainment landscape to the incredible community we are part of."

With 31 destinations around the world, MGM Resorts offer best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, sports betting and online gaming operations.

EMPIRE CITY – A DEDICATED COMMUNITY PARTNER

Empire City boasts the largest casino floor in the company's domestic portfolio at 160,000 square feet and is also one of the largest gaming floors in the country. It has been operating since October 2006 with video lottery terminals and electronic table games under its current lottery license. The site is also home to the historic Yonkers Raceway, a world-renowned horse racing harness track that has been operating since 1899. MGM Resorts remains committed to continuing racing.

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MGM Resorts provides update on recent cybersecurity issue

MGM Resorts International recently disclosed that the company identified a cybersecurity issue affecting certain of its systems and that its investigation into the issue was ongoing. On or around 29 September 2023, MGM Resorts determined that an unauthorized third party obtained personal information of some of its customers on 11 September 2023.

The affected information included name, contact information (such as phone number, email address, and postal address), gender, date of birth, and driver's license number. For a limited number of customers, Social Security number and/or passport number was also affected. The types of impacted information varied by individual.

The company does not believe customer passwords, bank account numbers, or payment card information was affected by this issue.

Promptly after learning of this issue, MGM Resorts took steps to protect its systems and data, including shutting down certain systems. The Company also quickly launched an investigation with the assistance of leading cybersecurity experts and is coordinating with law enforcement. MGM Resorts takes the security of its systems and data very seriously and has put in place additional safeguards to further protect its systems.

MGM Resorts is notifying relevant customers by email as required by applicable law and has arranged to provide those customers with credit monitoring and identity protection services at no cost to them. Individuals who receive an email from MGM Resorts about this issue should refer to that email for additional information and instructions for enrolling in these services.

MGM Resorts' notice regarding this issue recommends steps relevant customers can take to help protect their information. The Company has set up a dedicated call center at 800-621-9437 toll-free Monday through Friday from 8 am – 10 pm Central, or Saturday and Sunday from 10 am – 7 pm Central (excluding major U.S. holidays). Please reference engagement number B105892 when calling. The Company also has set up a webpage at www.mgmresorts.com/importantinformation with additional information.

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MGM Resorts donates $25,000 to support LGBTQ+ entrepreneurship

MGM Resorts International reaffirmed its commitment to supporting LGBTQ+ entrepreneurship businesses with a $25,000 donation to the Nevada Gay and Lesbian Chamber of Commerce (GLCCNV). The donation was presented in a special ceremony during a Pride Month event held at MGM Grand's Level Up.

"MGM Resorts is honored to support the Nevada Gay and Lesbian Chamber of Commerce in their mission of uplifting LGBTQ+ community through entrepreneurship and opportunity," said Jyoti Chopra, Chief People, Inclusion & Sustainability Officer at MGM Resorts. "Everyone deserves equal opportunity to flourish, and we take immense pride in being part of a community that celebrates diversity and embraces inclusion."

MGM Resorts has a longstanding commitment to fostering diversity, equity and inclusion and continues to advocate for these values within the company and communities in which it operates. This contribution to the GLCCNV, alongside initiatives like its Supplier Diversity Program, showcase the Company's unwavering support for diverse-owned businesses, fostering an environment of acceptance and opportunity.

MGM Resorts is a pioneering supporter of the LGBTQ+ community, dating back to the company's leadership as one of the first organizations in the gaming and hospitality industry to offer same-sex health benefits to employees in 2004, and same-sex ceremonies at its chapels. The company now offers free resources for its LGBTQ+ workforce in finding quality healthcare and has consistently been a vocal advocate for LGBTQ+ human rights.

The Human Rights Campaign recognized MGM Resorts one of the nation's "Best Places to Work for LGBTQ+ Equality," and has achieved a perfect score for 11 consecutive years on the Corporate Equality Index - the nation's foremost benchmarking survey measuring corporate policies and practices related to LGBTQ+ workplace equality.

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