{"id":250559,"date":"2022-12-30T16:12:04","date_gmt":"2022-12-30T22:12:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=250559"},"modified":"2022-12-30T17:16:14","modified_gmt":"2022-12-30T23:16:14","slug":"mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/","title":{"rendered":"MGM May Be Mulling Marriage with M Resort"},"content":{"rendered":"

The new year hasn\u2019t officially arrived. But the 2023 Las Vegas rumor mill is already spinning, as speculation swirls that MGM Resorts International (NYSE:MGM) may be interested in acquiring the M Resort Spa Casino in Henderson, Nevada.<\/p>\n

\"M
The M Resort Spa Casino in Henderson, Nevada. MGM may be interested in buying it. (Image: YouTube)<\/figcaption><\/figure>\n

Scott Roeben, also known as Vital Vegas, reports that a \u201creliable source\u201d<\/a> said that MGM is in early-stage talks with Penn Entertainment (NASDAQ:PENN) regarding a potential sale of the venue, and that the discussions were constructive.<\/p>\n

Casino sales can take awhile, due diligence and all that, so we may not hear any official word about the sale of M Resort for some time to come. There\u2019s also a chance the parties involved fail to come to an agreement, and we\u2019ll never hear anything further about it,\u201d<\/strong> wrote Roeben.<\/p><\/blockquote>\n

An estimated price for M Resort wasn\u2019t mentioned. But with the casino-hotel being an off-Strip venue, it\u2019s unlikely to command the $1 billion-plus price tags that are so common with Strip integrated resorts.<\/p>\n

M Resort Sale Possible<\/h2>\n

For now, the idea of MGM acquiring M Resort is merely speculation. It\u2019s worth noting that in the gaming industry, there are more rumored than closed deals.<\/p>\n

\n

Specific to the M Resort, Penn selling the operating rights to the venue would be interesting for multiple reasons. First, the company said in October it\u2019s committing $206 million to double the size of the property. Second, if Penn does sell M Resort, it would effectively eliminate the operator\u2019s Las Vegas footprint following the recently completed sale of the Tropicana\u2019s operating rights<\/a> to Bally\u2019s (NYSE:BALY).<\/p>\n<\/div>\n

If Penn parts with M\u2019s operating rights, its lone Nevada venue would be Cactus Pete\u2019s Resort Casino in Jackpot. Any transaction involving M Resort would be for the operating rights, because the real estate assets are owned by Gaming and Leisure Properties (NASDAQ:GLPI).<\/p>\n

Additionally, MGM has long favored an asset-lite model<\/a>. The largest operator on the Las Vegas Strip leases all of its US venues.<\/p>\n

M Buy Would Further Cement MGM\u2019s Vegas Dominance<\/h2>\n

It\u2019s not clear if Penn is holding talks with other suitors regarding M Resort. If the Pennsylvania-based company opens the bidding process in an effort to draw the highest possible price, it\u2019s likely there would be multiple suitors.<\/p>\n

Those could include operators, such as MGM, that are looking to bolster Las Vegas footprints, as well as those that currently have limited or no exposure to Nevada. As for MGM, adding M Resort to its portfolio would be a sensible addition and one that solidifies its dominant Las Vegas perch. The company has recently been active, acquiring the Cosmopolitan and selling the Mirage. Such transactions aren\u2019t always seamless.<\/p>\n

\u201cThere are pros and cons whenever a new company takes over a casino\u2019s operations. The buzz out of Cosmopolitan isn\u2019t especially flattering to MGM Resorts, and Cosmo has taken a significant hit on review sites. There has also reportedly been an exodus of key executives, not uncommon in such ownership changes,\u201d <\/strong>added Roeben.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The new year hasn\u2019t officially arrived. But the 2023 Las Vegas rumor mill is already spinning, as speculation swirls that MGM Resorts International (NYSE:MGM) may be interested in acquiring the M Resort Spa Casino in Henderson, Nevada. Scott Roeben, also known as Vital Vegas, reports that a \u201creliable source\u201d said that MGM is in early-stage […]<\/p>\n","protected":false},"author":46,"featured_media":250560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,81886,32093,1],"tags":[81903,23,81966,81967],"acf":[],"yoast_head":"\nMGM In Early Talks To Acquire M Resort In Henderson, Nevada<\/title>\n<meta name=\"description\" content=\"MGM and Penn Entertainment said to be in talks regarding M Resort sale.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM In Early Talks To Acquire M Resort In Henderson, Nevada\" \/>\n<meta property=\"og:description\" content=\"MGM and Penn Entertainment said to be in talks regarding M Resort sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-30T22:12:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-30T23:16:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MResort.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/\",\"name\":\"MGM In Early Talks To Acquire M Resort In Henderson, Nevada\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MResort.jpg\",\"datePublished\":\"2022-12-30T22:12:04+00:00\",\"dateModified\":\"2022-12-30T23:16:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM and Penn Entertainment said to be in talks regarding M Resort sale.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-in-early-talks-to-acquire-m-resort-in-henderson-nevada\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MResort.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MResort.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Penn Entertainment's M Resort in Henderson, Nevada. 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