MGM Resorts (MGM) reinvents its loyalty program and strengthens its offers
To strengthen its loyalty program offers for player and non-player customers, MGM Resorts International MGM recently announced the rollout of its redesigned loyalty rewards program – MGM Rewards – effective February 1, 2022. Following the news, the company’s shares rose 3% during trading hours on January 6.
The program incorporates both off-game and in-game activities, allowing members to earn points on almost any expense at MGM Resorts destinations. Points are redeemable for free food and drink, entertainment, and hotel stays. Additionally, the enhanced MGM Rewards app simplifies the digital experience and makes it easy to view tier status and benefits. The company said the levels of five members – Sapphire, Pearl, Gold, Platinum and BLACK – remained intact.
Anil Mansukhani, Vice President of Loyalty Marketing at MGM Resorts, said: â. enjoy a world class meal or stay in a luxury suite.
Benefits of the program
Some of the new exclusive perks include Resort Fee Waiver (Gold +), Tier Achievement Las Vegas Travel Credit (Platinum +), Free MGM Rewards Concert Tickets (Pearl +), Advanced Suite Upgrades up to three nights (Platinum +), access to exclusive level appreciation events and experiences (Gold +) and late check-out at 4 p.m. (subject to availability; Platinum +). The company initiated the validity of MGM Rewards points and Slot Dollars for Pearl + members despite account inactivity.
The company has announced collaborations with Hyatt Hotels, Southwest Airlines, Avis Rental Cars, Royal Caribbean and Celebrity Cruise Lines to increase reward offerings on land, in the air and at sea. Additional partnerships with leading brands are in development. courses, which should strengthen the offerings of loyalty programs in the coming periods.
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MGM Resorts shares have appreciated 41.3% over the past year compared to industrydecrease of 17.7%. The company benefited from the expansion of sports betting, an asset optimization strategy, non-gaming activities and digital initiatives. Sports betting and iGaming continue to be a major growth engine for the company. The company is optimistic about BetMGM’s operations as it expects revenue contributions of over $ 1 billion in 2022. Despite the pandemic scenario, the company is confident about its prospects in Macau and will continue to invest in the same thing. Nonetheless, earnings estimates for 2022 have risen over the past 30 days, indicating optimism among analysts about the stock’s growth potential.
Rank of Zacks and choice of keys
MGM Resorts currently holds a Zacks Rank # 3 (Hold). You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.
Some actions better ranked in the Zacks Consumer discretionary sector include Hilton Grand Vacations Inc. heavyweight, Bluegreen Vacations Holding Corporation BVH and Century Casinos, Inc. CNTY.
Hilton Grand Vacations is ranked # 1 by Zacks. The company has a surprise earnings for the last four quarters of 411.1% on average. The company’s shares have risen 65.5% in the past year.
Zacks’ consensus estimate for sales and earnings per share (EPS) of Hilton Grand Vacations in 2022 suggests growth of 27.7% and 154.4%, respectively, from levels a year earlier.
Bluegreen Vacations has a Zacks # 1 ranking. The company has a surprise earnings for the last four quarters of 695%, on average. The company’s shares have jumped 167.8% in the past year.
Zacks’ consensus estimate for Bluegreen Vacations sales and EPS in 2022 shows an increase of 7.6% and 0.4%, respectively, from the previous year’s levels.
Century Casinos carries a Zacks Rank # 2 (Buy). The company has a surprise earnings for the last four quarters of 758.9% on average. The company’s shares have risen 85.2% in the past year.
Zacks ‘consensus estimate for Century Casinos’ sales and EPS in 2022 suggests growth of 16.9% and 44.7%, respectively, from last year’s levels.
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