MGM Resorts Considers Fantasy Sports Investment, CEO SaysChristopher Palmeri
MGM Resorts International, the largest operator of casinos on the Las Vegas Strip, is considering investing in fantasy sports leagues, Chief Executive Officer Jim Murren said.
The company, based in Las Vegas, plans discussions with regulators in states where it operates to make sure such a move would be legal, Murren said today at the Global Gaming Expo.
MGM Resorts already sponsors fantasy sports events and has been incorporating elements into its slot machines, he said. Sports betting is a growing part of the casino business, and fantasy sports leagues are also gaining in popularity, he said. Murren said his wife, “who knows nothing about sports,” recently joined a fantasy football league.
“It’s obvious what’s happening,” Murren said. “The more we get this out in the open, the more people understand this is a very healthy, fun way to entertain oneself.”
In addition to expanding its sports betting in casinos, MGM Resorts is building a third arena in Las Vegas for events and seeks to expand sports betting in states where it’s not currently allowed, Murren said.
MGM rose 2.8 percent to $22.78 at the close in New York time. The stock has declined 3.1 percent this year.