Moral obligation differs from legal obligation A judge has thrown out a New York man’s lawsuit against the Borgata and its parent company, MGM Resorts International, saying that Atlantic City casinos – and their online gambling sites – do not have to stop people from gambling, even if they are displaying compulsive behavior. In her… Read more »
The US Department of Justice has announced that the FBI has developed a “decryption tool” that will help companies victimized by the BlackCat ransomware group regain control of their computer systems. The “disruption campaign” against BlackCat, which is also known as ALPHV or Norberus, comes months after both MGM Resorts International and Caesars Entertainment were… Read more »
One down, two to go The Culinary Local 226 union has come to a tentative agreement with the Caesars Entertainment properties in Las Vegas, allowing them to avoid a potential strike later this week. The union announced early Wednesday morning that it negotiated with Caesars for 20 consecutive hours to get the deal done. It… Read more »
Imagine being hired as a strike buster Big corporations show their true colors in a lot of ways, but as soon as employees express a desire to be treated even halfway decently, corporations really let their scumbag colors fly. If the rumblings out of Las Vegas are true, then MGM is about to show the… Read more »
A matter of timing MGM Resorts International CEO Bill Hornbuckle has confirmed that his company did not pay a ransom to hackers who brought MGM to its knees last month. Speaking at the Global Gaming Expo on Tuesday, Hornbuckle called it “corporate terrorism at its finest.” “It took us (until day three) to figure out… Read more »
Accounts inaccessible Just a couple weeks after MGM Resorts International issued the “all systems normal” after a hacker group hijacked its computer systems, it appears that many BetMGM customers had their accounts unlawfully accessed. A portion of those people have found themselves unable to login to their accounts and others who could get in found… Read more »
Plaintiffs allege lax cybersecurity As MGM Resorts International slowly gets back to normal after the cyberattack that crippled the company from the corporate offices through its casinos, it now faces another challenge: a slew of lawsuits. Last week, three law firms filed a total of five class action lawsuits against both MGM and Caesars, claiming… Read more »
Maybe not 100% More than a week after hackers crippled its computer systems, MGM Resorts International says that its “hotels and casinos are operating normally.” In a Tuesday morning statement, Nevada’s largest employer thanked customers for their patience and noted that there could still some “intermittent” issues. “Our resort services, dining, entertainment, pools and spas… Read more »
No end in sight MGM Resorts International is still struggling to gain control of all of its computer systems since last week’s cyberattack and, as one might guess, it is costing the company money. David Katz (no relation), an equity analyst with Jefferies Group, estimates that MGM is losing from $4.2 million to $8.4 million… Read more »
Shockingly easy Many of MGM Resorts’ systems were crippled because of cyberattack this past Monday and now the group responsible for it has been unmasked. According to vx-underground, a group that curates what it calls the “largest collection of malware source code, samples, and papers on the internet,” it was the ALPHV/BlackCat ransomware group that… Read more »
MGM Resorts properties appear to be fully operational once again, a day after the company experienced a significant disruption because of an alleged cyberattack. The company did not disclose specifics as to what exactly happened, calling it simply a “cybersecurity issue.” In a statement published to social media on Monday, MGM that once the problem… Read more »
“Love” made me fall in love I have been aware of The Beatles all my life and of course have enjoyed their music, but it wasn’t until 2006 that I actually became a Beatles fan. Until then, the Beatles were more of just a background soundtrack to me. For instance, “I Saw Her Standing There”… Read more »
The volcano outside the Mirage casino is one of the iconic landmarks of the Las Vegas Strip. Along with the entrance to the Flamingo and the Bellagio fountains, you can pretty much count on the volcano being part of a montage in a movie scene where friends are driving on the Strip for the first… Read more »
One heck of an offer In what would be a combination of gambling giants, MGM Resorts International announced this week that it has offered to purchase internet gambling company LeoVegas AB for $607 million. The total comes from a purchase price of SEK 61.00 per share for the Sweden-based LeoVegas, which would be paid using… Read more »
Diversification plans The landscape of the Las Vegas Strip will continue to change, as MGM Resorts International has said it is looking to sell The Mirage. During the company’s quarterly conference call on Wednesday, CEO Bill Hornbuckle said that the company feels it has enough exposure on The Strip. “As such, we are currently in… Read more »
Couldn’t see eye to eye DraftKings’ pursuit of Entain is over. On Tuesday, the sports betting and daily fantasy sports leader said it has ended talks with Entain about acquiring the partypoker parent company. Neither company gave specifics as to way no deal could be agreed upon. According to UK law (Entain is headquartered in… Read more »
Parties need more time Today was the deadline for sports betting and daily fantasy sports leader DraftKings to officially make an offer to buy partypoker owner Entain, but an offer never materialized. That does not mean that the deal is dead, however, as Entain has extended what it calls the “put up or shut up”… Read more »
MGM Resorts International has announced that it has agreed to acquire the operations of The Cosmopolitan of Las Vegas from Blackstone for $1.625 billion in cash. The deal is solely for the property’s operations, not the real estate itself. The purchase is part of a larger transaction in which Blackstone is selling the real estate… Read more »
Apparently that wasn’t DraftKings’ best offer Late Tuesday, after partypoker’s parent company Entain confirmed that DraftKings had put forth an offer to buy the UK-based gambling company, Entain pulled back the curtain further, revealing that it was already considering a second offer from DraftKings. The original offer, according to CNBC, was for $20 billion. Entain… Read more »
That’s a serious offer The financial markets were abuzz on Tuesday with the news that daily fantasy sports and sports betting giant DraftKings has made a $20 billion offer to acquire UK-based gambling company Entain. According to CNBC, the offer is in both stock and cash, but mainly the former. The Entain name in and… Read more »
MGM got its employees vaccinated With millions of COVID-19 vaccines getting administered every day in the United States, the pandemic statistics are moving in the right direction. Because of this, casinos have gradually been upping their customer capacities. Things are really starting to accelerate in Nevada, as MGM received permission from the Nevada Gaming Control… Read more »
Entain says try again MGM Resorts International has made an £8.1 billion ($11.1 billion) offer to buy online gaming company Entain (formerly GVC Holdings), but Entain says it is not enough. On Monday, the owner of partypoker confirmed publicly that MGM did, in fact, receive a proposal from MGM, but that it “significantly undervalues the… Read more »
Thousands of members of two major Las Vegas casino workers unions can breathe at least a mild sigh of relief, as they have negotiated a deal with MGM Resorts International and Caesars Entertainment to protect their health benefits for another half a year. The gigantic gaming firms have agreed to extend the family health benefits… Read more »
Mask use is mandatory at casinos With COVID-19 cases continuing to escalate in the United States, casino operators appear to be taking at least one safety measure very seriously. Caesars, Las Vegas Sands, and MGM Resorts International have all reportedly told their employees to wear protective face masks or find somewhere else to work. According… Read more »
MGM feeling confident Las Vegas has been “reopened” for a week, so it is just about time to reopen it some more. On Tuesday, MGM Resorts International announced that Luxor, The Shoppes at Mandalay Bay Place, ARIA, Mandalay Bay proper, and Four Seasons Las Vegas will be the company’s next properties to welcome back guests.… Read more »
