Gambling in the USA
MGM introduces growth strategy
MGM Resorts has unveiled an over growth new strategy, which focuses on reducing costs and improving efficiency. The company forecasts an adjusted annual increase in EBITDA of $300m, consisting of $200m by the end of 2020 and another $100m by the end of the following year. MGM has announced a programme entitled MGM 2020, an initiative that it says will “leverage a more centralised organisation to maximise profitability through key investments in technology.” It will also lay the foundation of MGM’s digital transformation to drive up revenues.
“Today, we are taking the next step in our evolution as an organisation. We are building on the strong foundation that we have solidified over the past few years, to deepen our efficiencies and achieve sustained growth and margin enhancement,” said Jim Murren, chairman and CEO of MGM Resorts International. “MGM 2020 is intended to further transform the way we operate and leverage the most effective operational architecture for our company.”
Murren went on: “When we launched our Profit Growth Plan a few years ago, we transformed our culture to embrace a ‘one company’ approach to operations, create best practices and efficiencies and drive significant adjusted EBITDA growth and margin expansion. Importantly, during this time, we established key centralised strategic functions and developed crucial operational expertise to enable best practices and efficiencies.
“These cornerstone strengths allowed us to exceed our initial expectations on our Profit Growth Plan, as we currently operate many of the most profitable destinations in Las Vegas and across our regional markets.”
The plan is to reallocate some of its annual capital expenditure budget to specific technology advancements to increase revenues. Murren added: “We had a solid finish to the year in 2018 and as we look to 2019 and beyond, we remain confident in the ramp of our newly opened properties MGM Cotai, MGM Springfield, Park MGM and NoMad Las Vegas.”
“We will enter two attractive markets in New York and Ohio. We will continue to work toward cementing MGM Resorts as the leader in sports, following the milestones achieved in 2018 with GVC and the professional sports leagues. We remain focused on pursuing an integrated resort opportunity in Japan. MGM 2020 reinforces our commitment to increasing margins and maximising profitability.”
Revo Casino and Social House in Conway, New Hampshire, has held its grand opening on Tuesday.
The Conway property is the latest addition to Revo’s growing presence in New Hampshire, joining locations in Dover, Lebanon, Manchester, and Keene.
Revo Casino and Social House’s new amenities include:
• Rebels: A bold dining experience with a full bar and great game-day energy. Revo’s signature restaurant serves up flavorful dishes like the Rebel Smash Burger, flatbread pizzas, and prime rib, making it the perfect spot to eat, drink and enjoy the action.
• Rebel Stage: Featuring live music every weekend.
• Revo Studio powered by iHeartMedia: An in-house broadcast center featuring live iHeart broadcasts. The studio also drives the Soundtrack of the Revolution, a curated music selection that sets the energy and vibe of the property.
Gaming Highlights: 75 thrilling casino machines, including Ultimate Fire Link Explosion, Huff N Even More Puff, and Devil’s Lock. Table games, including blackjack, roulette, and poker tables.
Speakers and guests at the event included Revo President Aaron Gomes, Executive Director of Mount Washington Valley Promotions Lisa DuFault, and the Mount Washington Valley Chamber of Commerce.
“It’s exciting to open Revo Casino and Social House and see the community’s enthusiasm for our gaming, entertainment and dining options. Beyond entertainment, Revo Casino and Social House will also support nonprofits across the Mount Washington Valley. We’re proud to be part of this community and contribute to its success,” said Gomes.
“This facility will make such an incredible difference for so many nonprofits in the Mount Washington Valley. The support that Revo Casino and Social House provides allows organizations like ours to better serve our communities and care for those in need. The impact is truly life changing,” said Lisa DuFault, Executive Director of Mount Washington Valley Promotions.
Spinomenal, the leading iGaming content provider, has made its US debut after launching an exciting collaboration with a leading operator in the state of New Jersey, and is anticipating many more valuable collaborations with top tier online casinos.
Following impressive growth rates, Spinomenal is making a major move into the New Jersey iGaming market, marking a key step in its global expansion. By entering this crucial U.S. region, Spinomenal will bring its innovative games to a new audience, strengthening its presence and leadership in the iGaming industry.
Spinomenal’s specially selected titles will be going live via Pariplay’s Fusion aggregation platform in the New Jersey market. Some of the outstanding titles being made available for NJ players are Demi Gods II, Majestic Wild Buffalo and Kitsune’s Scrolls.
This marks a major milestone in Spinomenal’s strategic expansion plan, as this debut establishes the company’s initial presence within the New Jersey market, with further growth anticipated across the US iGaming ecosystem. This move underscores Spinomenal’s commitment to expanding its global footprint and further solidifying its position as a leader in the online casino industry.
Lior Shvartz, CEO for Spinomenal commented: “After a decade of establishing and positioning Spinomenal as a leading provider in the iGaming industry, we have now taken a big leap and will provide our exciting content to the esteemed New Jersey audience. We are highly optimistic about entering this prominent market, following the process of obtaining approval from the DGE.”
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