Mgm Has High Hopes For Online Operations

MGM HAS HIGH HOPES FOR ONLINE OPERATIONS

04th May, 2012 at 09:54:07
Source: http://www.azonlinecasinos.com

Social gaming site launch in Q2 will "recreate the Las Vegas Strip experience..."

Whilst Las Vegas gambling giant MGM Resorts International posted a disappointing $217.3m loss in Q1 2012, the company is upbeat about a new online venture in the social gaming field which it intends to launch in Q2, and the prospect of US federal legalisation for online gambling.

Speaking to journalists and analysts in a post-results conference call, chief executive Jim Murren talked about the launch, saying the new social gaming site would "recreate the Las Vegas Strip experience and exclusively features our brands.

Murren has been talking about the new venture since early February this year (see previous reports), and progress is clearly being made.

He also appeared confident on the prospect of federal legalisation of online poker in the United States, which he reiterated his company was "aggressively pursuing." MGM and Boyds have a partnership agreement in place with European online gambling Bwin.Party digital (ref: AZOC online casino list), although this is obviously contingent on the legalisation of the pastime (see previous reports).

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