MGM RESORTS PURCHASES WNBA’S STARS WITH PLANS TO MOVE FRANCHISE TO LAS VEGAS

MGM Resorts International (MGM) has purchased the San Antonio Stars of the WNBA and has announced intentions to relocate the franchise to Las Vegas for the start of the 2018 season. The Stars, who become the 3rd pro sports franchise to announce relocation to Sin City since ’16, will play its home games at the MGM owned 12,000 seat Mandalay Bay Events Center. NBA legend Bill Laimbeer has been named the team’s head coach and president of basketball operations.

Howie Long-Short: With acquisition of the Stars, MGM becomes is the 2nd gaming company to purchase a WNBA team; Mohegan Sun owns the Connecticut Sun. While news of the acquisition isn’t going to move the MGM share price, the move makes sense as the Stars will fill open dates at a MGM venue. The Stars are the first professional sports franchise under a MGM umbrella that includes the T-Mobile Arena; home to the Las Vegas Golden Knights. MGM is treating the Stars as a trial run for an NBA team, as they would like to land a co-anchor tenant for their arena.

Fan Marino: Speaking of gambling, for the 2nd time in 3 weeks MNF finished with a wild backdoor cover. With the Titans up 7, the ball on their own 27 and just a minute to play; a single first down would have won the game and made those who bet the Colts +7.5 winners. However, on 3rd and 5, Derrick Henry broke free for a 73-yard TD to ice the game and reward those who placed their money on the Titans. Had Henry simply gone down after picking up the first down, the Titans still would have won the game but the team would have failed to cover 7.5 points.

MGM Resorts revealed as buyer of WNBA franchise for Las Vegas

Author: John Wall Street

At the intersection of sports & finance.

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