|Bid||0.00 x 45100|
|Ask||0.00 x 1400|
|Day's Range||28.25 - 28.83|
|52 Week Range||26.31 - 38.41|
|PE Ratio (TTM)||8.73|
|Earnings Date||Nov 6, 2018 - Nov 12, 2018|
|Forward Dividend & Yield||0.48 (1.73%)|
|1y Target Est||35.31|
In a bid to fortify existing portfolio of brands and boost non-gaming entertainment service revenues, MGM Resorts (MGM) inks acquisition deal with MGM Growth Properties to buy Rocksino.
The Alliance of American Football explained the name and color scheme for the new pro football team being developed in Atlanta.
Ryan McQueeney highlights the Dow's rally toward all-time highs on the back of strength from financial stocks. He also touches on news related to marijuana producers and reported activist interest in casino giant MGM. Later, the host calls Brian Bolan, a noted Tesla bull, to discuss a major shift in his sentiment for the electric car company.
LAS VEGAS, Sept. 19, 2018 /PRNewswire/ -- MGM Resorts International ("MGM Resorts") (MGM) and MGM Growth Properties LLC ("MGP") (MGP) today announced that they have entered into an agreement whereby MGM Resorts will acquire all of the operating assets of the Hard Rock Rocksino Northfield Park (the "Rocksino") from MGP and lease the real property associated with the Rocksino from a subsidiary of MGP.
The Massachusetts Gaming Commission has reported that MGM Springfield, which opened its resort casino on Aug. 24, generated $9,456,976.90 in gross gaming revenue in the month of August.
China is unlikely to make trouble for U.S. casinos operating in Macau even if the trade war intensifies, says Jonathan Galligan, CLSA gaming analyst. That's because they have contributed to China's goal of turning the former Portuguese colony into a key tourist destination.
U.S. corporations operating casinos in Macau aren't likely targets for Chinese offensives if the trade war between Washington and Beijing worsens, according to Jonathan Galligan, a CLSA analyst. China's goal is to make Macau into an increasingly attractive and diverse tourist destination. U.S. operators Sands, Wynn and MGM have contributed to that, Galligan says.
While budding opportunity in the sports betting industry and strong brand may aid MGM Resorts' (MGM) revenues, heightened competition and heavy reliance on debt financing are concerns.
The economy has been in slow-but-sure recovery over the past several years, but is finally starting to hit the gas. The U.S. is leading the way and now the economy is doing the best it has in years. You’d think that would mean good things for Wynn Resorts (NYSE:WYNN), Wynn stock and other casino names.
MGM Resorts International drew criticism Tuesday for saying hundreds of survivors of the Las Vegas mass shooting, who are being sued by the casino operator, could opt to have the money that will be used to serve them a lawsuit instead donated to a charity. The company in July sued more than 1,900 victims of the Oct. 1 mass shooting at one of its properties and has been working to notify them as it faces a standard 90-day deadline.
LAS VEGAS, Sept. 10, 2018 /PRNewswire/ -- MGM Resorts International (MGM) and new professional football league, The Alliance of American Football, have entered into a transaction that includes an investment in The Alliance and a three-year sponsorship establishing MGM Resorts as the official sports betting sponsor of The Alliance and exclusive gaming partner. For MGM Resorts, the investment represents its forward-looking view on the combination of live sports, real-time second-generation stats, and fan engagement – either for fun or for those who may choose to wager.
LAS VEGAS, Sept. 10, 2018 /PRNewswire/ -- MGM Resorts International (MGM) was ranked No. 147 on Forbes' list of America's Best Employers for New Graduates 2018. Forbes, in partnership with the research firm Statista, compiled the inaugural list by independently surveying employees working for companies with at least 1,000 people within the U.S. The sample size included 10,000 Americans with less than 10 years of professional experience. "Attracting and retaining top talent is very important to us at MGM Resorts International," said the company's Human Resources Officer and Senior Vice President, Michelle DiTondo.
The world’s largest casino company has not built a new casino since it completed its 6th casino in China in 2016. Now, Las Vegas Sands stock finds itself in decline as a U.S.-China trade war concerns its investors. Contrary to the name, most of its revenue no longer comes from Las Vegas or even other American gambling meccas.
The partnership between NSHE and MGM, Nevada's largest private employer, will provide educational access to nearly 72,000 employees. RENO, Nev., Sept. 7, 2018 /PRNewswire/ -- The Nevada Board of Regents on Friday approved a partnership between the Nevada System of Higher Education (NSHE) and MGM Resorts International that will make higher education affordable and accessible to its nearly 72,000 employees throughout the U.S. The MGM College Opportunity Program marks the first time a Fortune 500 company is partnering with an entire system of higher education.
In the case of MGM Resorts (MGM), though, this could mean there is turnaround potential which leads to high returns in the long run. The company is intent on building a strong position in the lucrative sports betting market, while new projects could lead to improving financial performance over the medium term. Its diverse range of operations may also make it more resilient than sector peers, while a potential move into Japan could boost its long-term profitability.
NEW YORK, NY / ACCESSWIRE / September 7, 2018 / Casino stocks Wynn Resorts and MGM Resorts took a tumble on Thursday. While there was no news from MGM Resorts, it was concern over Wynn Resorts potentially selling its Encore Boston Harbor resort again, that sent shares down almost 9%. Wynn Resorts, Limited shares were down nearly 9% in Thursday trading and hit a new low of $127.33.
Rising net demand for allocating to hedge funds has hit a three-year high, as the $3 trillion hedge fund industry scored high marks among investors for its performance during the 12-month period from June 2017 to June 2018, despite persistent high fees. 66% of investors felt their expectations were met or exceeded during the period […]
As goes Macau, so goes casino stocks. That has been the trend this decade for casinos with any exposure to Macau, which is considered by many to be Asia’s far-bigger version of Las Vegas. When things in Macau are going well, casino stocks are in rally mode. When things in Macau aren’t going well, casino stocks struggle.
Confirming an overnight report by Sky News, the UK-based firm said it had agreed to pay $50 million (£38.87 million) in stock, subject to a 3-5 year lock-up, as well as a 20 percent stake in its U.S. business and a share of profits from its licences under the deal. The deal follows a Supreme Court ruling in May that lifted a broad ban on sports betting and follows moves by rival GVC Holdings (GVC.L) and Dublin-based bookmaker Paddy Power (PPB.I) to partner with other U.S. casino chains. The deal covers 26 Eldorado casinos in 13 states and will lead to William Hill opening sportsbooks in five properties within weeks, the company said.
Top casinos and resorts stocks Wynn Resorts Ltd. (WYNN) and Las Vegas Sands Corp. (LVS) have plunged recently after a U.S. Supreme court ruling in May was perceived to have paved the way for legalized sports betting countrywide. As such, gambling revenues of casino stocks like Wynn Resorts and Las Vegas Sands would have been greatly affected because countrywide legalization would open up opportunities for more players including new startups to join the market. Warning! GuruFocus has detected 3 Warning Signs with WYNN.