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Max Knoblauch

MGM Resorts earnings hit the jackpot

MGM Resorts shares soared more than 17% today, leading the S&P 500 gainers. The hotel and casino operator reported earnings after the bell on Wednesday, beating estimates for both profits and sales.

MGM said its China business’s revenue grew 28% in 2024, reaching $4 billion. CEO Bill Hornbuckle said MGM China is still seeing strong demand this year and is positioned for further growth.

The Vegas-based company said it expects its sports betting venture, BetMGM, to be profitable this year. Super Bowl LIX was the most-bet-upon single sporting event for both BetMGM and its rival, Caesars Entertainment. Most states’ sportsbooks raked in cash from the game — except Pennsylvania, which lost $6.5 million. (Nearly 80% of money wagered was placed on the Philadelphia Eagles at Penn Entertainment's ESPN BET.)

MGM’s surge seems to be helping its peers. Caesars closed up 9%, and Roundhill’s gambling ETF climbed to a 52-week high.

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Nathan's Famous restaurant on Coney Island

Iconic hot dog brand Nathan’s Famous just sold for $450 million

Packaged meat company Smithfield Foods has agreed to acquire the historic Coney Island staple — best known for its annual hot dog eating contest — in an all-cash deal.

Millie Giles1/23/26
Tom Jones
so fried
1/23/26
KFC ranked worst out of 76 restaurant chains per new market share analysis

The chicken wars are taking their toll, new Barclays analysis suggests, as competitors close in on the chain that once ruled the roost.

KFC sign. Fried chicken brand, bucket shape signage, blue sky with clouds. South Africa.
Nate Becker
1/22/26
Paramount is doing everything except the one thing that could give its Warner Bros. bid a chance of success

Warner Bros. says “more than 93%” of its shareholders have rejected Paramount. That’s probably not going to change substantially unless Paramount boosts its offer.

Tom Cruise In 'Jerry Maguire'
Television Set

Streamers continued retreating from original shows in 2025

The death of “peak TV” has not been exaggerated, per a new report from Luminate.

Max Knoblauch1/21/26
Retail display of Takis snack food in various spicy flavors in Target store, Queens, New York

America’s love for spicy food and mouth-tingling sauces has surged, but are we approaching “peak heat”?

Takis doesn’t think so, as it searches for a “Chief Intensity Officer.”

Claire Yubin Oh1/21/26

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