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BetMGM is having its best year to date in 2025 and is returning cash to parents MGM and Entain. Still, it has yet to record a profitable year since its formation in 2018. Wynn still owns all of its Las Vegas casino real estate and therefore pays no lease costs in the market. Additionally, the company owns another 34-acre vacant plot on the Strip that it has not yet committed to developing. MGM has been even more aggressive in selling its domestic real estate, including all nine of its Las Vegas properties.
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