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MGM Resorts International Announces Extension Of Macau Gaming Sub-Concession To June 2022

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MGM Resorts International Announces Extension Of Macau Gaming Sub-Concession To June 2022Reading Time: 2 minutes

 

MGM Resorts International announced  that on March 14, 2019, MGM Grand Paradise Limited, a wholly owned subsidiary of MGM China Holdings Limited, an indirect majority-owned subsidiary of MGM Resorts, and Sociedade de Jogos de Macau, S.A. (“SJMSA”) entered into a Sub-Concession Extension Contract (the “Extension Agreement”), pursuant to which the gaming sub-concession of MGM Grand Paradise, which is due to expire on March 31, 2020, would be extended to June 26, 2022, which coincides with the expiration date of all the other concessionaires and sub-concessionaires.

“We are grateful for the support of the Macau government to have authorized and extended our sub-concession to now align with the rest of the market,” said Jim Murren, Chairman and Chief Executive Officer of MGM Resorts and Chairperson of MGM China. “We continue to believe in the long-term success of Macau. As the region continues to grow into an international leisure and tourism destination, MGM China remains committed to supporting this vision through our one-of-a-kind experiences in art, entertainment, and diverse food and beverage programming, as well as our stunning Mansion villas at MGM Cotai, which open later this month.”

In connection with the extension, MGM Grand Paradise will pay the government of Macau MOP200 million (equivalent to approximately HK$194.17 million or US$24.73 million) upon signing of the Extension Agreement as contract premium for such extension.

In addition, on March 14, 2019, MGM Grand Paradise also executed the MGM SJM Agreement with SJMSA, pursuant to which MGM Grand Paradise shall pay SJMSA an amount of MOP20 million (equivalent to approximately HK$19.42 million or US$2.47 million) in connection of the extension of the sub-concession.

 

About MGM Resorts International:

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 29 unique hotel and destination gaming offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company acquired the operations of Empire City Casino in New York in 2019, and in 2018, opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The over 82,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies®. For more information visit us at www.mgmresorts.com.

 

About MGM China Holdings Limited:

MGM China (SEHK: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/sub-concessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau. MGM China is majority owned by MGM Resorts International.

 

Source: MGM Resorts International

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: MGM Resorts International Announces Extension Of Macau Gaming Sub-Concession To June 2022

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Sweden to Consider Online Casino Advertising Ban

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Sweden to Consider Online Casino Advertising BanReading Time: 1 minute

 

Sweden’s government is going to ban advertising by online casinos and other forms of gambling as it seeks to tackle a rise in addiction, sending shares in the sector lower.

At the start of the year, Sweden tightened the rules for gambling firms and called on the industry to put in place a code of conduct to protect vulnerable consumers. But measures have not gone far enough.

“There is scope for the commissioner to recommend a total or partial ban on gambling advertising,” Minister for Public Administration Ardalan Shekarabi said.

The commission’s remit will include looking at whether to treat advertising of online gambling in the same way as adverts for alcohol and tobacco, limits on advertising bonuses, jackpots and free-plays and whether to limit advertising during live sporting events such as football matches.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sweden to Consider Online Casino Advertising Ban

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GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret Campaign

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GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret CampaignReading Time: 1 minute

 

GambleAware has Launched “No Bet Inn” in Liverpool as part of Bet Regret campaign. The Bet Regret campaign aims to give support for the young men aged 16–34 who gamble regularly. New research conducted for GambleAware revealed that 58% of 18–44 year-old male sports bettors agree that they make impulsive bets in the heat of the moment.

“Some of my fondest memories of playing football were with Liverpool, so it was great to have a chat with fellow fans and watch the current team play, and it was genuinely nice to watch a full match in the No Bet Inn without the distraction of a mobile in anyone’s hand. No checking Instagram, no updating Facebook and crucially, no betting in-play or whilst drinking. It’s crazy to see the number of fans placing ill-considered bets and regretting it afterwards, so it was great to remind people to think twice before betting, avoid Bet Regret and just enjoy the game,” Garcia, famous football player said.

Marc Etches, CEO of GambleAware, said: “We created the No Bet Inn as a demonstration of our Bet Regret campaign and to make football fans think hard about their betting habits. At the No Bet Inn, people could enjoy the game and avoid BetRegret. The is one part of a national campaign for safer gambling which launched in February to raise awareness of behaviours that people might not always recognise as impulsive or risky, such as sports betting when drunk, bored or chasing losses.”

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret Campaign

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Nielsen Releases “Esports Playbook for Brands” 2019

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Nielsen, the US-based global information and measurement company, has released its 2019 “Esports Playbook for Brands.

According to Esports Playbook for Brands, non-gaming brand involvement in esports has increased by 13% over the past year. Mainstream brands outside of traditional video game brands are entering the space.

Nielsen points out that 90% of U.S. esports viewers on Twitch can name at least one non-gaming sponsor; 70% of U.S. Twitch users spend more time engaging with esports than they do with traditional sports.

“Esports fans respect and welcome those brands that embrace what they already love, and get the need for the revenue and exposure that sponsors, distributors, and content creators bring with them,” says Bobby Sharma, founding partner of the Esports advisory firm Electronic Sports Group, in the playbook.

“But they also know when they are being used as test subjects… and that is where things can go awry,” he adds.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nielsen Releases “Esports Playbook for Brands” 2019

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