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MGM Resorts International Reports Third Quarter 2021 Financial And Operating Results

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MGM Resorts International reported financial results for the quarter ended September 30, 2021.

“We delivered another strong quarter led by our domestic operations resulting in new historical Adjusted Property EBITDAR records for our Las Vegas Strip and U.S. regional segments. These results demonstrate the continued robust demand for our gaming entertainment offerings across the U.S. and the effectiveness of our operating model,” said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. “The completion of our asset light strategy will allow us to simplify our corporate structure and bolster our liquidity. I am also excited about our long-term growth prospects, including: BetMGM, which continues to establish itself as a clear leader in U.S. sports betting and iGaming; our selection as Osaka’s partner to build and operate a large-scale integrated resort in Japan; and the announcement of our agreement to acquire the operations of The Cosmopolitan of Las Vegas. The Company remains focused on achieving our vision to be the world’s premier gaming entertainment company.”

“Our strong liquidity position, coupled with our confidence in the long-term recovery of our core business, has allowed us to continue to focus on maximizing long-term shareholder value. To that end, we continued to repurchase our stock in the third quarter, reaching over $1 billion of share repurchases since beginning the program this year,” said Jonathan Halkyard, Chief Financial Officer and Treasurer of MGM Resorts International. “As we navigate future uses of our capital, we will remain disciplined in maintaining a strong balance sheet, pursuing targeted growth opportunities and returning cash to shareholders.”

Third Quarter 2021 Financial Highlights:

Consolidated Results

  • Consolidated net revenues of $2.7 billion, an increase of 140% compared to the prior year quarter. While the current quarter benefited from the removal of mandated operational and capacity restrictions as well as an increase in travel, the prior year quarter was negatively affected by temporary closures at certain properties and operational restrictions due to the COVID-19 pandemic;
  • Consolidated operating income was $1.9 billion compared to consolidated operating loss of $495 million in the prior year quarter;
  • Net income attributable to MGM Resorts of $1.4 billion compared to net loss attributable to MGM Resorts of $535 million in the prior year quarter;
  • Diluted earnings per share of $2.77 in the current quarter compared to diluted loss per share of $1.08 in the prior year quarter;
  • Adjusted diluted earnings per share (“Adjusted EPS”)(1) of $0.03 in the current quarter compared to an Adjusted EPS loss per share of $1.08 in the prior year quarter; and
  • Consolidated Adjusted EBITDAR(2) of $765 million in the current quarter.

Financial Position & Liquidity

  • Consolidated cash and cash equivalents balance as of September 30, 2021 was $5.6 billion, which included $320 million at the MGP Operating Partnership and $331 million at MGM China;
  • Total liquidity at September 30, 2021 was $9.8 billion, which included $1.7 billion at the MGP Operating Partnership and $1.7 billion at MGM China, which was comprised of cash and cash equivalents and capacity under the revolving credit facilities at the Company, MGP Operating Partnership and MGM China; and
  • At September 30, 2021, principal amount of consolidated indebtedness was $12.7 billion, including $4.2 billion at the MGP Operating Partnership and $3.0 billion at MGM China.

Las Vegas Strip Resorts

  • Net revenues of $1.4 billion, an increase of 187% compared to the prior year quarter and a decrease of 8% compared to the third quarter of 2019. While the current quarter benefited from the removal of mandated operational and capacity restrictions as well as an increase in travel, the prior year quarter was negatively affected by temporary property closures at certain properties and operational restrictions;
  • Table Games Hold Adjusted Las Vegas Strip Resorts Net Revenues(3) of $1.4 billion, an increase of 178% compared to the prior year quarter and a decrease of 10% compared to the third quarter of 2019;
  • Adjusted Property EBITDAR(2) of $535 million compared to $15 million in the prior year quarter, and an increase of 21% compared to the third quarter of 2019;
  • Adjusted Property EBITDAR margin(2) of 38.7% in the current quarter, an increase of 943 basis points compared to the third quarter of 2019 due primarily to an increase in net revenues and realized benefits of the Company’s cost savings initiatives; and
  • Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR(2) of $514 million compared to $21 million in the prior year quarter, and an increase of 17% compared to the third quarter of 2019.

Regional Operations

  • Net revenues of $925 million, an increase of 66% compared to the prior year quarter and a decrease of 1% compared to the third quarter of 2019. While the current quarter benefited from the removal of mandated operational and capacity restrictions as well as an increase in travel, the prior year quarter was negatively affected by temporary property closures at certain properties and operational restrictions;
  • Adjusted Property EBITDAR of $348 million, an increase of 139% compared to the prior year quarter, and an increase of 29% compared to the third quarter of 2019; and
  • Adjusted Property EBITDAR margin of 37.6% in the current quarter, an increase of 886 basis points compared to the third quarter of 2019 due primarily to an increase in revenues and realized benefits of the Company’s costs savings initiatives.

MGM China

  • Net revenues of $289 million, an increase of 517% compared to the prior year quarter and a decrease of 61% compared to the third quarter of 2019. The prior year quarter was more significantly impacted by travel and entry restrictions in Macau as well as other operational restrictions related to the pandemic than in the current quarter;
  • VIP Table Games Hold Adjusted MGM China Net Revenues(3) of $272 million, an increase of 403% compared to the prior year quarter and a decrease of 61% compared to the third quarter of 2019;
  • Adjusted Property EBITDAR of $7 million compared to a loss of $96 million in the prior year quarter, and a decrease of 96% compared to the third quarter of 2019; and
  • VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR(2) loss of $2 million compared to a loss of $93 million in the prior year quarter, and $170 million in the third quarter of 2019.

Recent Developments

On September 26, 2021, the Company entered into an agreement to acquire the operations of The Cosmopolitan of Las Vegas (“The Cosmopolitan”) for cash consideration of $1.625 billion, subject to customary working capital adjustments. Additionally, at closing, the Company will enter into a lease agreement for the real estate assets of The Cosmopolitan. The Cosmopolitan lease will have an initial term of 30 years with three subsequent ten-year renewal periods, exercisable at the Company’s option. The initial term of the lease provides for an initial annual cash rent of $200 million with a fixed 2% escalator for the first fifteen years, and thereafter, an escalator equal to the greater of 2% and the CPI increase during the prior year, subject to a cap of 3%. The transaction is expected to close in the first half of 2022, subject to regulatory approvals and other customary closing conditions.

Adjusted Diluted Earnings Per Share

The following table reconciles diluted earnings (loss) per share (“EPS”) to Adjusted EPS (approximate EPS impact shown, per share; positive adjustments represent charges to income):

Three Months Ended September 30,

2021

2020

Diluted earnings (loss) per share

$

2.77

$

(1.08)

Property transactions, net

0.01

0.01

Gain on consolidation of CityCenter, net

(3.23)

Non-operating items:

Loss related to equity instrument

0.10

Change in fair value of MGP swaps

(0.01)

Foreign currency loss on MGM China senior notes

0.01

Income tax impact on net income adjustments(1)

0.37

Adjusted diluted earnings/(loss) per share

$

0.03

$

(1.08)

(1)

The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the jurisdiction in which it occurs.

Las Vegas Strip Resorts

Casino revenue was $423 million for the third quarter of 2021 compared to $189 million in the prior year quarter, an increase of 123%, due primarily to the impact of COVID-19 in the prior year period.

The following table shows key gaming statistics for Las Vegas Strip Resorts:

Three Months Ended September 30,

2021

2020

(Dollars in millions)

Table Games Drop

$

917

$

498

Table Games Win

$

251

$

108

Table Games Win %

27.4

%

21.6

%

Slots Handle

$

3,863

$

1,944

Slots Win

$

369

$

183

Slots Win %

9.6

%

9.4

%

Rooms revenue was $403 million for the third quarter of 2021 compared to $138 million in the prior year quarter, an increase of 192% due primarily to an increase in REVPAR(4) as a result of increased occupancy at our properties, the removal of mandated capacity restrictions, and increased travel in the current quarter.

The following table shows key hotel statistics for Las Vegas Strip Resorts:

Three Months Ended September 30,

2021

2020

Occupancy %(1)

82

%

44

%

Average Daily Rate (ADR)

$

181

$

139

Revenue per Available Room (REVPAR)(1)

$

148

$

61

(1)

Rooms that were out of service, including full and midweek closures, during the three months ended September 30, 2020  due to the COVID-19 pandemic were excluded from the available room count when calculating hotel occupancy and REVPAR.

Regional Operations

Casino revenue was $720 million compared to $465 million in the prior year quarter, an increase of 55% due primarily to the impact of COVID-19 in the prior year period.

The following table shows key gaming statistics for Regional Operations:

Three Months Ended September 30,

2021

2020

(Dollars in millions)

Table Games Drop

$

1,080

$

739

Table Games Win

$

214

$

155

Table Games Win %

19.8

%

21.0

%

Slots Handle

$

6,900

$

4,360

Slots Win

$

661

$

426

Slots Win %

9.6

%

9.8

%

MGM China

Key third quarter results for MGM China include:

  • Net revenues of $289 million, an increase of 517% compared to the prior year quarter and a decrease of 61% compared to the third quarter of 2019;
  • Main floor table games win of $222 million compared to $25 million, an increase of 792% compared to the prior year quarter;
  • VIP table games win of $72 million compared to $17 million, an increase of 313% compared to the prior year quarter; and
  • Adjusted Property EBITDAR of $7 million compared to a loss of $96 million in the prior year quarter. License fee expense was $5 million in the current quarter and $1 million in the prior year quarter.

The following table shows key gaming statistics for MGM China:

Three Months Ended September 30,

2021

2020

(Dollars in millions)

VIP Table Games Turnover

$

1,800

$

929

VIP Table Games Win

$

72

$

17

VIP Table Games Win %

4.0

%

1.9

%

Main Floor Table Games Drop

$

1,042

$

143

Main floor Table Games Win

$

222

$

25

Main Floor Table Games Win %

21.3

%

17.3

%

Corporate Expense

Corporate expense, including share-based compensation for corporate employees, increased to $112 million in the third quarter of 2021, from $70 million in the prior year quarter, due primarily to an increase in payroll expense as the prior year quarter reflected the impact of temporary closures due to the pandemic. The current quarter also included $18 million in transaction costs.

Unconsolidated Affiliates

The following table summarizes information related to the Company’s share of operating income (loss) from unconsolidated affiliates:

Three Months Ended September 30,

2021

2020

(In thousands)

CityCenter (through September 26, 2021)

$

40,747

$

(6,041)

MGP BREIT Venture

38,959

38,976

BetMGM

(49,060)

(9,057)

Other

4,465

(3,243)

$

35,111

$

20,635

On September 27, 2021, the Company completed its acquisition of the 50% ownership interest in CityCenter and now owns a 100% ownership interest. Accordingly, the Company now consolidates CityCenter in its financial statements and no longer accounts for its interest under the equity method of accounting.

MGM Growth Properties

During the third quarter of 2021, the Company made rent payments to MGM Growth Properties Operating Partnership LP (“MGP Operating Partnership”) in the amount of $211 million and received distributions of $57 million from the MGP Operating Partnership. On October 15, 2021, MGM Growth Properties LLC (“MGP”) paid a dividend of $81 million, of which the Company received $58 million.

MGM Resorts Dividend and Share Repurchases

On November 3, 2021, the Company’s Board of Directors approved a quarterly dividend of $0.0025 per share. The dividend will be payable on December 15, 2021 to holders of record on December 10, 2021.

During the third quarter of 2021, the Company repurchased approximately 17 million shares of its common stock at an average price of $39.89 per share for an aggregate amount of $687 million, pursuant to the February 2020 $3.0 billion stock repurchase plan. The remaining availability under the February 2020 $3.0 billion stock repurchase program was $2.0 billion as of September 30, 2021. All shares repurchased under the Company’s program have been retired.

Conference Call Details 

MGM Resorts will host a conference call at 5:00 p.m. Eastern Time today, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM’s Investor Relations website at http://investors.mgmresorts.com.

The call will be accessible via the Internet through http://investors.mgmresorts.com/investors/events-and-presentations/ or by calling 1-888-317-6003 for domestic callers and 1-412-317-6061 for international callers. The conference call access code is 3239200.

A replay of the call will be available through November 10, 2021. The replay may be accessed by dialing 1-877-344-7529 or 1-412-317-0088. The replay access code is 10160477. The call will be archived at http://investors.mgmresorts.com.

1.”Adjusted EPS” is diluted earnings or loss per share adjusted to exclude preopening and start-up expenses, property transactions, net, gain on consolidation of City Center, net, loss related to equity instrument, foreign currency loss related to MGM China’s U.S. dollar-denominated debt, and mark-to-market adjustments related to MGP’s unhedged interest rate swaps.

Adjusted EPS is a non-GAAP measure and is presented solely as a supplemental disclosure to reported GAAP measures because management believes this measure is useful in providing period-to-period comparisons of the results of the Company’s continuing operations to assist investors in reviewing the Company’s operating performance over time. Management believes that while certain items excluded from Adjusted EPS may be recurring in nature and should not be disregarded in evaluating the Company’s earnings performance, it is useful to exclude such items when comparing current performance to prior periods because these items can vary significantly depending on specific underlying transactions or events. Also, management believes certain excluded items, and items further discussed in footnote 2 below, may not relate specifically to current operating trends or be indicative of future results. Adjusted EPS should not be construed as an alternative to GAAP earnings per share as an indicator of the Company’s performance. In addition, Adjusted EPS may not be defined in the same manner by all companies and, as a result, may not be comparable to similarly titled non-GAAP financial measures of other companies. A reconciliation of Adjusted EPS to diluted earnings per share can be found under “Adjusted Diluted Earnings Per Share” included in this release.

2.”Adjusted EBITDAR” is earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, gain on REIT transactions, net, gain on consolidation of CityCenter, net, CEO transition expense, October 1 litigation settlement, restructuring costs (which represents costs related to severance, accelerated stock compensation expense, and consulting fees directly related to the operating model component of the MGM 2020 Plan),  gain related to CityCenter’s sale of Harmon land recorded within income from unconsolidated affiliates, rent expense associated with triple net operating and ground leases, income from unconsolidated affiliates related to investments in real estate ventures, and property transactions, net.

“Adjusted Property EBITDAR” is the Company’s reportable segment GAAP measure, which management utilizes as the primary profit measure for its reportable segments and underlying operating segments. Adjusted Property EBITDAR is a measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, gain on REIT transactions, net, restructuring costs (which represents costs related to severance, accelerated stock compensation expense, and consulting fees directly related to the operating model component of the MGM 2020 Plan), rent expense associated with triple-net operating and ground leases, income from unconsolidated affiliates related to investments in real estate ventures, and property transactions, net, and also excludes gain on consolidation of CityCenter, net, gain related to CityCenter’s sale of Harmon land recorded within income from unconsolidated affiliates and corporate expense (which includes CEO transition expense and October 1 litigation settlement) and stock compensation expense, which are not allocated to each operating segment, and rent expense related to the master lease with MGP that eliminates in consolidation.

“Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR” and “VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR” are supplemental non-GAAP financial measures, that, in addition to the reasons described above for the presentation of Adjusted Property EBITDAR, are presented to adjust for the impact of certain variances in table games and VIP table games’ win percentages compared to the mid-point of the expected ranges. Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR is calculated by applying a win percentage of 30.0% for Baccarat and 21.0% for non-Baccarat games to the respective table games drops for the quarter, which represents the mid-point of the expected ranges of 25.0% to 35.0% for Baccarat and 19.0% to 23.0% for non-Baccarat at the Las Vegas Strip Resorts properties. VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR is based on applying a VIP Rolling Chip win percentage of 2.95% to the VIP Rolling Chip volume, which represents the mid-point of the expected normal range of 2.6% to 3.3% for MGM China. Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR and VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR are also adjusted for the gaming taxes, VIP commissions, bad debt expense, discounts and other incentives that would have been incurred or avoided when applying the win percentages noted above to the respective gaming volumes.

Adjusted EBITDAR information is a valuation metric, should not be used as an operating metric, and is presented solely as a supplemental disclosure to reported GAAP measures because management believes this measure is widely used by analysts, lenders, financial institutions, and investors as a principal basis for the valuation of gaming companies. Management believes that while items excluded from Adjusted EBITDAR may be recurring in nature and should not be disregarded in evaluation of the Company’s earnings performance, it is useful to exclude such items when analyzing current results and trends. Also, management believes excluded items may not relate specifically to current trends or be indicative of future results. For example, preopening and start-up expenses will be significantly different in periods when the Company is developing and constructing a major expansion project and will depend on where the current period lies within the development cycle, as well as the size and scope of the project(s). Property transactions, net includes normal recurring disposals, gains and losses on sales of assets related to specific assets within the Company’s resorts, but also includes gains or losses on sales of an entire operating resort or a group of resorts and impairment charges on entire asset groups or investments in unconsolidated affiliates, which may not be comparable period over period. In addition, management excludes rent expense associated with triple net operating leases and ground leases. Management believes excluding rent expense associated with triple net operating leases and ground leases provides useful information to analysts, lenders, financial institutions, and investors when valuing the Company, as well as comparing the Company’s results to other gaming companies, without regard to differences in capital structure and leasing arrangements since the operations of other gaming companies may or may not include triple net operating leases or ground leases. However, as discussed herein, Adjusted EBITDAR should not be viewed as a measure of overall operating performance, considered in isolation, or as an alternative to net income, because this measure is not presented on a GAAP basis and excludes certain expenses, including the rent expense associated with the Company’s triple net operating and ground leases, and are provided for the limited purposes discussed herein.

Adjusted EBITDAR, Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR and VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR should not be construed as alternatives to operating income or net income, as indicators of the Company’s performance; or as alternatives to cash flows from operating activities, as measures of liquidity; or as any other measure determined in accordance with generally accepted accounting principles. The Company has significant uses of cash flows, including capital expenditures, interest payments, taxes, real estate triple net lease and ground lease payments, and debt principal repayments, which are not reflected in Adjusted EBITDAR, Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR, or VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR. Also, other companies in the gaming and hospitality industries that report Adjusted EBITDAR, Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR, or VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR information may calculate Adjusted EBITDAR, Table Games Hold Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR, or VIP Table Games Hold Adjusted MGM China Adjusted Property EBITDAR in a different manner and such differences may be material.

A reconciliation of GAAP net income (loss) to Adjusted EBITDAR is included in the financial schedules in this release.

3.”Table Games Hold Adjusted Las Vegas Strip Resorts Net Revenues” and “VIP Table Games Hold Adjusted MGM China Net Revenues” are additional supplemental non-GAAP financial measures that are presented to adjust Las Vegas Strip Resorts net revenues and MGM China net revenues for the impact of certain variances in table games and VIP table games’ win percentages compared to the mid-point of the expected ranges, as described in footnote 2 above. Table Games Hold Adjusted Las Vegas Strip Resorts Net Revenues and VIP Table Games Hold Adjusted MGM China Net Revenues are also adjusted for the VIP commissions, discounts and other incentives that would have been incurred or avoided when applying the win percentages noted in footnote 2 above to the respective gaming volumes. Management believes Table Games Hold Adjusted Las Vegas Strip Resorts Net Revenues and VIP Table Games Hold Adjusted MGM China Net Revenues present consistent measures in providing period-to-period comparisons and are useful measures in assisting investors evaluating the Company’s operating performance. Table Games Hold Adjusted Las Vegas Strip Resorts Net Revenues and VIP Table Games Hold Adjusted MGM China Net Revenues should not be construed as alternatives to GAAP net revenues, as indicators of the Company’s performance, or as any other measure determined in accordance with generally accepted accounting principles. Reconciliations of GAAP net revenues to Table Games Hold Adjusted Las Vegas Strip Resorts Net Revenues and VIP Table Games Hold Adjusted MGM China Net Revenues are included in the financial schedules in this release.

4.REVPAR is hotel revenue per available room.

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AGCO Fines Great Canadian Casino Resort Toronto $350,000 for Serious Regulatory Violations Linked to Impromptu After-Party on Gaming Floor

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The Alcohol and Gaming Commission of Ontario (AGCO) has issued monetary penalties totaling $350,000 against Great Canadian Casino Resort Toronto for multiple violations of provincial gaming standards. The penalties follow an impromptu after-party that was permitted to take place in the pre-dawn hours directly on the casino’s gaming floor.

On September 27, 2024, an electronic dance music event attended by thousands of people was hosted in the theatre adjacent to the casino at Great Canadian Casino Resort Toronto. The event was marked by widespread intoxication, disorderly behavior, and numerous criminal and medical incidents – both inside and outside the venue – including alleged assaults, drug overdoses, and acts of public indecency. Although paid duty officers were present, additional police and emergency services were required to manage the situation.

In the midst of this high-risk environment, casino management approved an unscheduled request by the performing artist to host an after-party on the active gaming floor. The artist and more than 400 guests were permitted onto the gaming floor where the artist was allowed to perform amidst operational table games and gaming machines – without any prior risk assessment or planning.

As a result, security personnel were unable to effectively control the casino floor, including witness reports that an attendee was seen climbing onto slot machines. Failure to maintain appropriate control compromises the security, safety, and integrity of the casino floor. Following the conclusion of the event, the operator failed to promptly report these incidents to the AGCO as required.

Based on the findings of its review, the AGCO’s Registrar has issued an Order of Monetary Penalty (OMP) totaling $350,000 against Great Canadian Casino Resort Toronto. These penalties address critical failures in their operations, incident reporting, employee training, and the management of disturbances.

A gaming operator served with an OMP has 15 days to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.

“Casino operators have a fundamental duty to control their gaming environment. Great Canadian Casino Resort Toronto’s lapses in this incident compromised the safety of patrons and the security and integrity of the gaming floor,” Dr. Karin Schnarr, Chief Executive Officer and Registrar of AGCO, said.

The post AGCO Fines Great Canadian Casino Resort Toronto $350,000 for Serious Regulatory Violations Linked to Impromptu After-Party on Gaming Floor appeared first on Gaming and Gambling Industry in the Americas.

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IGT and Atlantic Lottery Sign Eight-Year Video Lottery Central System Technology Agreement

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International Game Technology PLC announced that its subsidiary, IGT Canada Solutions ULC (hereinafter “IGT”), signed an eight-year agreement with Atlantic Lottery to supply its IntelligenEVO video lottery central system technology across Atlantic Canada. The agreement includes the option for multiple extensions and positions the Atlantic Lottery to become the first World Lottery Association (WLA)-affiliated lottery operator to deploy IGT’s next-generation central management system in a game-to-system (G2S) distributed market.

“By leveraging IGT’s IntelligenEVO technology, Atlantic Lottery will power its video lottery network with the industry’s best-in-class central system and position itself to maximize future contributions to good causes. As an organization that prioritizes system security and exceptional player experiences, Atlantic Lottery believes that IGT’s IntelliegnEVO solution will help generate high player satisfaction and optimal network performance,” said Michael MacKinnon, Atlantic Lottery VP, Product.

“As a long-time supplier to Atlantic Lottery, IGT looks forward to helping the Lottery achieve its growth and player engagement goals with our leading-edge IntelligenEVO video lottery central system. IGT’s IntelligenEVO is a scalable technology for the WLA market that is backed by decades of experience and operator feedback, and maximizes the benefits of real-time data, cloud-based technologies and in-depth analytics,” said David Flinn, IGT SVP Canada, EMEA and LATAM, Gaming Sales.

With peak system security, network availability and responsible gaming functionalities, IntelligenEVO is a reliable, scalable solution that can meet the needs of today and in the future. The solution will accelerate time-to-market and enables the Atlantic Lottery to benefit from the system’s suite of player-focused functionality. The technology’s G2S and open API design optimizes data collection and delivery and will enable Atlantic Lottery to customize their program for evolving player needs.

The post IGT and Atlantic Lottery Sign Eight-Year Video Lottery Central System Technology Agreement appeared first on Gaming and Gambling Industry in the Americas.

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NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform

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NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.

As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.

This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.

Pallavi Deshmukh, CEO of NetGaming, commented: “We are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.”

Richard Schwartz, CEO of Rush Street Interactive, commented: “We are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.”

This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.

The post NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform appeared first on Gaming and Gambling Industry in the Americas.

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