MGM Resorts is reportedly debating the possibility of a sale for its casinos in Ohio and Massachusetts, after a disappointing stock performance.
MGM Resorts Debate Sale Of OH & MA Casinos
The two casinos in question are located in Northfield Park, Ohio and Springfield, Massachusetts and MGM Resorts is yet to confirm its stance on a sale.
However, sources in and around the industry have suggested that MGM Resorts is now looking into the idea of selling both properties – but it is still in the early stages.
The reasoning for the possible sale comes down to the underwhelming performance in the stock market, with both venues seeing little growth.
Each casino has been in the positive region for profit and sales since 2022, as MGM Resorts continues to be a leading casino business in Las Vegas.
Despite this dominance, MGM still want to develop as a leading operator in both LV and the global casino gambling market.
The future of MGM resorts has been in discussion recently, as CEO, Bill Hornbuckle, spoke about the company’s expectations at a forum.
MGM are planning on opening up for business in the UAE, Thailand and Asia as a whole – while also furthering their grasp in America and New York.
Empire City Casino, owned by MGM Resorts, has brought huge success and the betting operator is preparing to secure three more casino licences – opening a new building in 2026.
MGM opened its casino in Ohio during 2019, purchasing the building from Hard Rock and the site offers horse tracks/casino betting.
Similarly, the Massachusetts location began its tenure in 2018 after the state legalized casino gambling but has not followed the necessary requirements for success.
Hornbuckle expected the Springfield site to reach a certain financial bracket, but he has now admitted that it has failed to meet these standards – despite making $278 million through gambling revenue.
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