BetMGM and Marriott Launch Soccer Event Sweepstakes
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 11 hours ago
0mins
Source: Newsfilter
- Grand Prize Launch: BetMGM partners with Marriott Bonvoy to introduce the 'World's Game Sweepstakes', offering 10 winners a chance to attend the SI Beyond the Pitch VIP event in New York, showcasing a powerful collaboration in sports betting and travel.
- Clear Participation Criteria: Participants must link their BetMGM and Marriott Bonvoy accounts and wager a minimum of $10 by June 21 to qualify for the sweepstakes, a low barrier to entry expected to attract a large user base and enhance brand visibility.
- Diverse Prize Offerings: Grand prizes include VIP access to the event, round-trip travel to New York, and a three-night hotel stay, along with 30 secondary prizes of $100 bonus bets, a diverse prize structure designed to further incentivize participation and enhance customer loyalty.
- Market Expansion Strategy: This initiative marks not only the first collaboration between BetMGM and Marriott but also a strategic move to expand their user base across 30 markets, aiming to attract more customers and enhance market competitiveness through unique experiences.
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Analyst Views on MGM
Wall Street analysts forecast MGM stock price to fall
14 Analyst Rating
5 Buy
7 Hold
2 Sell
Hold
Current: 50.690
Low
29.00
Averages
40.31
High
56.00
Current: 50.690
Low
29.00
Averages
40.31
High
56.00
About MGM
MGM Resorts International is a global gaming and entertainment company with national and international destinations featuring hotels and casinos, meetings and conference spaces, incredible live and theatrical entertainment experiences, and a range of restaurants, nightlife and retail offerings. Its segment includes Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. Las Vegas Strip Resorts consists of casino resorts: Aria, Bellagio, The Cosmopolitan of Las Vegas, MGM Grand Las Vegas, Mandalay Bay, Luxor, New York-New York, Excalibur, and Park MGM. Regional Operations consists of various casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and others. MGM Digital is its online gaming portfolio which consists of LeoVegas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
BetMGM and Marriott Launch Soccer Event Sweepstakes
- Grand Prize Launch: BetMGM partners with Marriott Bonvoy to introduce the 'World's Game Sweepstakes', offering 10 winners a chance to attend the SI Beyond the Pitch VIP event in New York, showcasing a powerful collaboration in sports betting and travel.
- Clear Participation Criteria: Participants must link their BetMGM and Marriott Bonvoy accounts and wager a minimum of $10 by June 21 to qualify for the sweepstakes, a low barrier to entry expected to attract a large user base and enhance brand visibility.
- Diverse Prize Offerings: Grand prizes include VIP access to the event, round-trip travel to New York, and a three-night hotel stay, along with 30 secondary prizes of $100 bonus bets, a diverse prize structure designed to further incentivize participation and enhance customer loyalty.
- Market Expansion Strategy: This initiative marks not only the first collaboration between BetMGM and Marriott but also a strategic move to expand their user base across 30 markets, aiming to attract more customers and enhance market competitiveness through unique experiences.
See More
Investigation Launched into MGM Resorts Board's Fiduciary Duties
- Investigation Initiated: Shareholder rights law firm Johnson Fistel, PLLP has launched an investigation into whether the board of MGM Resorts breached fiduciary duties in a potential go-private transaction with People, Inc., which could impact corporate governance.
- Shareholder Rights Focus: The investigation examines whether the board and largest shareholder People, Inc. adequately protect minority shareholders' interests during the potential transaction, ensuring procedural fairness and impacting shareholder confidence in the company's future.
- Legal Compliance Review: Johnson Fistel is assessing whether MGM's directors are fulfilling their fiduciary obligations to public shareholders, particularly regarding any misconduct in related-party transactions that could harm shareholder rights.
- Shareholder Participation Call: MGM shareholders are encouraged to contact Johnson Fistel for more information and to participate in the investigation, highlighting the importance of transparency in corporate governance.
See More
People Inc. Proposes Acquisition of MGM at $48.30 per Share
- Acquisition Proposal Analysis: People Inc. has proposed to acquire the remaining shares of MGM at $48.30 per share in cash, although Stifel believes this offer undervalues MGM, with the stock currently trading above the bid price, indicating market expectations for a higher offer.
- Market Reaction and Valuation: MGM's stock fell 0.7% on Monday after reaching a year-high of $51.56 during regular trading, with Stifel suggesting that MGM's board may reject the current offer and push for a higher acquisition price.
- Investor Sentiment Shift: On Stocktwits, retail investor sentiment around MGM rose from 'bullish' to 'extremely bullish', reflecting positive market expectations for the acquisition, with some users suggesting that this deal would facilitate People Inc.'s easier takeover of MGM's digital platform, betMGM.
- Long-Term Growth Potential: Truist analysts noted that full ownership of MGM could simplify People Inc.'s investment narrative and allow MGM to focus on long-term growth without the pressure of short-term results, although privatization may face scrutiny over reduced transparency.
See More
US Stocks Rise Slightly Amid Oil Price Surge
- Market Recovery: The S&P 500 rose by 0.36%, the Dow Jones by 0.14%, and the Nasdaq 100 by 0.66%, indicating a gradual recovery from early losses linked to Iran's halt of US-Iran ceasefire negotiations.
- Oil Price Surge: Oil prices rallied over 8% early in the day due to Iran's government halting ceasefire talks, ultimately closing up more than 5%, positively impacting energy stocks and overall market sentiment.
- Tech Stock Resurgence: Nvidia's stock surged over 6% after announcing its entry into the PC market with a new chip, causing competitors Intel and AMD to drop 4.9% and 1.3%, respectively, while Microsoft rose 2.3%, reflecting renewed confidence in tech stocks.
- Positive Economic Data: The May US manufacturing PMI rose by 1.3 points to 54.0, exceeding expectations, although the final PMI was revised down to 55.1, indicating resilience in manufacturing, with markets optimistic about the upcoming unemployment report.
See More
Nasdaq 100 Rises 0.6% Following Nvidia Chip Launch
- Strong Market Performance: The S&P 500 rose by 0.3%, the Nasdaq 100 increased by 0.6%, and the Dow Jones inched up by 0.1%, marking the eighth consecutive day of gains for the S&P 500, reflecting strong market confidence in tech stocks.
- Software Stocks Rally: Following positive commentary from Nvidia's CEO Jensen Huang, software stocks surged across the board, indicating a bullish outlook on the future of artificial intelligence and software development, which further propelled the overall market upward.
- Nvidia Chip Launch: Nvidia unveiled its 'RTX Spark' chip at the Computex event in Taiwan, aimed at competing with Intel and AMD, with major PC manufacturers like Dell and Lenovo expected to launch systems powered by the new chips later this year, potentially reshaping the competitive landscape of the personal computer market.
- Investor Sentiment Optimistic: Retail sentiment on Stocktwits for SPY, QQQ, and DIA was all in the 'extremely bullish' territory, indicating high investor confidence in market prospects, which could further drive stock market gains.
See More
Barry Diller's Low Offer for MGM Resorts May Be Rejected
- Acquisition Offer Analysis: Barry Diller's $48.30 per share offer for MGM Resorts (MGM) is deemed too low by analysts, suggesting it may be rejected by MGM's board, indicating market expectations for a higher bid.
- Market Valuation Comparison: Analyst Steven M. Wieczynski estimates MGM's fair value should be between $50-55 per share, based on Tilman Fertitta's recent acquisition of Caesars Entertainment (CZR) at $31 per share, reflecting market recognition of MGM's potential value.
- Stock Price Reaction: Following the announcement of Diller's bid, MGM's stock surged 17%, trading above $51 per share, indicating investor belief that MGM's value is underestimated and anticipation of a higher acquisition offer.
- Strategic Buyer Outlook: Analysts note that despite optimism regarding MGM's high-quality assets and growth potential, the lack of credible strategic buyers may hinder the acquisition process, particularly given People's ~26% voting rights, which may deter potential private equity buyers.
See More
BetMGM and Marriott Launch Soccer Event Sweepstakes
- Grand Prize Launch: BetMGM partners with Marriott Bonvoy to introduce the 'World's Game Sweepstakes', offering 10 winners a chance to attend the SI Beyond the Pitch VIP event in New York, showcasing a powerful collaboration in sports betting and travel.
- Clear Participation Criteria: Participants must link their BetMGM and Marriott Bonvoy accounts and wager a minimum of $10 by June 21 to qualify for the sweepstakes, a low barrier to entry expected to attract a large user base and enhance brand visibility.
- Diverse Prize Offerings: Grand prizes include VIP access to the event, round-trip travel to New York, and a three-night hotel stay, along with 30 secondary prizes of $100 bonus bets, a diverse prize structure designed to further incentivize participation and enhance customer loyalty.
- Market Expansion Strategy: This initiative marks not only the first collaboration between BetMGM and Marriott but also a strategic move to expand their user base across 30 markets, aiming to attract more customers and enhance market competitiveness through unique experiences.
See More
Investigation Launched into MGM Resorts Board's Fiduciary Duties
- Investigation Initiated: Shareholder rights law firm Johnson Fistel, PLLP has launched an investigation into whether the board of MGM Resorts breached fiduciary duties in a potential go-private transaction with People, Inc., which could impact corporate governance.
- Shareholder Rights Focus: The investigation examines whether the board and largest shareholder People, Inc. adequately protect minority shareholders' interests during the potential transaction, ensuring procedural fairness and impacting shareholder confidence in the company's future.
- Legal Compliance Review: Johnson Fistel is assessing whether MGM's directors are fulfilling their fiduciary obligations to public shareholders, particularly regarding any misconduct in related-party transactions that could harm shareholder rights.
- Shareholder Participation Call: MGM shareholders are encouraged to contact Johnson Fistel for more information and to participate in the investigation, highlighting the importance of transparency in corporate governance.
See More
People Inc. Proposes Acquisition of MGM at $48.30 per Share
- Acquisition Proposal Analysis: People Inc. has proposed to acquire the remaining shares of MGM at $48.30 per share in cash, although Stifel believes this offer undervalues MGM, with the stock currently trading above the bid price, indicating market expectations for a higher offer.
- Market Reaction and Valuation: MGM's stock fell 0.7% on Monday after reaching a year-high of $51.56 during regular trading, with Stifel suggesting that MGM's board may reject the current offer and push for a higher acquisition price.
- Investor Sentiment Shift: On Stocktwits, retail investor sentiment around MGM rose from 'bullish' to 'extremely bullish', reflecting positive market expectations for the acquisition, with some users suggesting that this deal would facilitate People Inc.'s easier takeover of MGM's digital platform, betMGM.
- Long-Term Growth Potential: Truist analysts noted that full ownership of MGM could simplify People Inc.'s investment narrative and allow MGM to focus on long-term growth without the pressure of short-term results, although privatization may face scrutiny over reduced transparency.
See More
US Stocks Rise Slightly Amid Oil Price Surge
- Market Recovery: The S&P 500 rose by 0.36%, the Dow Jones by 0.14%, and the Nasdaq 100 by 0.66%, indicating a gradual recovery from early losses linked to Iran's halt of US-Iran ceasefire negotiations.
- Oil Price Surge: Oil prices rallied over 8% early in the day due to Iran's government halting ceasefire talks, ultimately closing up more than 5%, positively impacting energy stocks and overall market sentiment.
- Tech Stock Resurgence: Nvidia's stock surged over 6% after announcing its entry into the PC market with a new chip, causing competitors Intel and AMD to drop 4.9% and 1.3%, respectively, while Microsoft rose 2.3%, reflecting renewed confidence in tech stocks.
- Positive Economic Data: The May US manufacturing PMI rose by 1.3 points to 54.0, exceeding expectations, although the final PMI was revised down to 55.1, indicating resilience in manufacturing, with markets optimistic about the upcoming unemployment report.
See More
Nasdaq 100 Rises 0.6% Following Nvidia Chip Launch
- Strong Market Performance: The S&P 500 rose by 0.3%, the Nasdaq 100 increased by 0.6%, and the Dow Jones inched up by 0.1%, marking the eighth consecutive day of gains for the S&P 500, reflecting strong market confidence in tech stocks.
- Software Stocks Rally: Following positive commentary from Nvidia's CEO Jensen Huang, software stocks surged across the board, indicating a bullish outlook on the future of artificial intelligence and software development, which further propelled the overall market upward.
- Nvidia Chip Launch: Nvidia unveiled its 'RTX Spark' chip at the Computex event in Taiwan, aimed at competing with Intel and AMD, with major PC manufacturers like Dell and Lenovo expected to launch systems powered by the new chips later this year, potentially reshaping the competitive landscape of the personal computer market.
- Investor Sentiment Optimistic: Retail sentiment on Stocktwits for SPY, QQQ, and DIA was all in the 'extremely bullish' territory, indicating high investor confidence in market prospects, which could further drive stock market gains.
See More
Barry Diller's Low Offer for MGM Resorts May Be Rejected
- Acquisition Offer Analysis: Barry Diller's $48.30 per share offer for MGM Resorts (MGM) is deemed too low by analysts, suggesting it may be rejected by MGM's board, indicating market expectations for a higher bid.
- Market Valuation Comparison: Analyst Steven M. Wieczynski estimates MGM's fair value should be between $50-55 per share, based on Tilman Fertitta's recent acquisition of Caesars Entertainment (CZR) at $31 per share, reflecting market recognition of MGM's potential value.
- Stock Price Reaction: Following the announcement of Diller's bid, MGM's stock surged 17%, trading above $51 per share, indicating investor belief that MGM's value is underestimated and anticipation of a higher acquisition offer.
- Strategic Buyer Outlook: Analysts note that despite optimism regarding MGM's high-quality assets and growth potential, the lack of credible strategic buyers may hinder the acquisition process, particularly given People's ~26% voting rights, which may deter potential private equity buyers.
See More
