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MGM Resorts International Announces Proposed Senior Notes Offering

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MGM Resorts International Announces Proposed Senior Notes Offering

 

MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032.

The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly-owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

Deutsche Bank Securities Inc., BofA Securities, Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and Truist Securities, Inc. will act as joint book-running managers and Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC will act as co-managers for the proposed offering.

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Mohegan Appoints Joseph J. Hasson as Interim COO

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Mohegan Tribal Gaming Authority, known globally for its renowned integrated entertainment resorts, has appointed Joseph J. Hasson as interim Chief Operating Officer. Jody Madigan, the current COO, has resigned effective August 1, 2024, and will be taking a leave of absence pending his departure.

Joseph J. Hasson will serve as interim COO and retain his current role as General Manager of Mohegan Casino at Virgin Hotels Las Vegas, subject to necessary regulatory filings or approvals. Mr. Hasson was an obvious choice for the Management Board, given his prior experience as the former Chief Operating Officer of Station Casinos LLC and Red Rock Resorts Inc. Joe brings considerable expertise to the executive team with a consistent track record of operating excellence and success over more than 40 years’ experience in the gaming and hospitality industry. Mr. Hasson will report to Ray Pineault, President and Chief Executive Officer of Mohegan.

“Joseph J. Hasson’s deep understanding of the gaming and hospitality industry makes him exceptionally qualified to maintain our high service and operational excellence standards. We are confident that Joe’s extensive experience and proven leadership will ensure continuity in our operations and guest experience,” Ray Pineault, President and CEO of Mohegan, said.

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Jennifer Shatley Joins ROGA as Executive Director

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Jennifer Shatley, a recognized expert in the field and a highly sought speaker and advisor, has joined the Responsible Online Gaming Association (ROGA) as Executive Director.

Shatley has had 25+ years worth of experience, working closely with the treatment community, academics, researchers, government bodies, state councils, and gaming industry representatives to promote responsible gaming.

“Many of America’s largest legal mobile gaming operators will be establishing a framework that helps to aid in responsible gaming education and awareness. By coming together with a clear set of objectives, ROGA and our members will work to enhance consumer protections and help provide easier and more efficient access to responsible gaming tools for consumers to enjoy the entertainment of online gaming,” Shatley said.

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Rush Street Interactive Appoints Brian Sapp as Chief Marketing Officer

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Rush Street Interactive Inc. announced the appointment of Brian Sapp to the newly-created role of Chief Marketing Officer.

In his role as CMO, Brian brings a wealth of experience and a proven track record in leading data-driven marketing and live operations within the mobile industry and joins the Company’s executive leadership team reporting directly to Richard Schwartz, Chief Executive Officer.

“As we continue to grow and expand across the Americas, a marketing leader with Brian’s unique blend of gaming and mobile experience, strategic insight, and creativity will be additive to the team as we shape the future of our brand and continue to innovate our customer first experience. We are thrilled to welcome him aboard to lead our marketing strategy, team, and operations,” said Richard Schwartz.

As RSI’s growth continues to accelerate, Mattias Stetz, the company’s Chief Operations Officer who previously led the marketing team, has deepened his focus on scaling operations and increasing Latin American growth.

Brian Sapp said: “I am thrilled to join Rush Street Interactive at a time when the company has such strong momentum. RSI’s customer first focus really resonated with me as a marketer who understands what it takes to succeed in a competitive mobile landscape. I look forward to leveraging my experience and expertise to drive forward our marketing initiatives during RSI’s next phase of growth and deliver exceptional experiences to our customers.”

Prior to joining Rush Street Interactive, Brian served on the Executive Team at Rec Room, overseeing several functions, including media buying, product marketing, creative, social, and first-party revenue, where he played a pivotal role in driving the company’s growth strategies and user base to new heights. Before his tenure at Rec Room, Brian held the position of Senior Vice President of User Acquisition & Ads at Jam City, overseeing the successful marketing campaigns for a diverse portfolio of casual and social mobile games.

With a career spanning nearly two decades, Brian also served as the Director of Digital Publishing at WB Games, where he managed all aspects of user acquisition, analytics, and monetization for WB’s mobile gaming portfolio. He began his journey in the mobile industry at Tapjoy, where he served as Director of Developer Partnerships, playing a key role in strategic partnerships, developer relations, and app distribution and monetization.

Brian’s appointment underscores Rush Street Interactive’s commitment to innovation and strategic growth in the rapidly evolving online gaming landscape. His extensive experience and proven leadership will undoubtedly propel Rush Street Interactive to new heights of success as new markets come online and existing markets continue to mature.

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