24.60 +0.04 (0.16%)
After hours: 7:51PM EST
|Bid||24.03 x 1100|
|Ask||24.94 x 900|
|Day's Range||23.90 - 25.26|
|52 Week Range||23.68 - 34.64|
|Beta (5Y Monthly)||1.48|
|PE Ratio (TTM)||6.33|
|Earnings Date||Apr 26, 2020 - Apr 30, 2020|
|Forward Dividend & Yield||0.60 (2.35%)|
|Ex-Dividend Date||Mar 08, 2020|
|1y Target Est||35.94|
MGM Resorts International (the "Company" or "MGM") (NYSE: MGM) announced today that it has adjusted the price range of its tender offer to purchase up to $1,250,000,000 in aggregate purchase price of its issued and outstanding shares of common stock, par value $0.01 per share (each, a "Share" and, collectively, the "Shares"), or such lesser aggregate purchase price of Shares as are properly tendered and not properly withdrawn. Following the adjustment, the purchase price in the tender offer shall not be greater than $28.00 nor less than $23.50 per Share to the sellers in cash, less any applicable withholding taxes and without interest, with the exact price to be determined through a "modified Dutch auction" pricing mechanism. The aggregate tender offer purchase price of up to $1,250,000,000 remains unchanged. The expiration date of the tender offer also remains unchanged, and is currently scheduled for 12:00 Midnight, at the end of the day, New York City time, on March 12, 2020, unless the offer is extended or terminated. The full terms and conditions of the tender offer are discussed in the Offer to Purchase, dated February 13, 2020 (as previously amended and supplemented to the date hereof, "Offer to Purchase"), and the associated Letter of Transmittal and other materials relating to the tender offer that MGM initially filed on February 13, 2020 (each as amended) with the Securities and Exchange Commission (the "SEC").
Adults in Massachusetts would be able to bet on professional and Division I college sports in person and through web or mobile apps under legislation on the move.
The number of employees at the MGM Springfield resort casino has fallen to just above 2,000, according to a quarterly report.
Coronavirus fears are clearly weighing on the broad market, but it is still too soon to tell whether the disease will affect mergers and acquisitions, bankers said.
The NFL has gradually given in to sports betting, and its latest move is to allow teams to build out casino-sponsored lounges in their stadiums.
The lawsuit was filed by law firm Morgan & Morgan, whose lawyer John Yanchunis has also represented some Yahoo users in a breach of 3 billion accounts between 2013 and 2016. MGM Resorts said on Thursday that last summer it "discovered unauthorized access to a cloud server that contained a limited amount of information for certain previous guests". Technology website ZDNet reported that the personal details of more than 10.6 million guests who stayed at MGM Resorts hotels were published on a hacking forum this week.
Boyd earnings jumped 52%, beating views. The U.S. casino stock has a perfect IBD Composite Rating of 99, but fell in late trading.
MGM Resorts International , the casino and hotel operator, confirmed it suffered a data breach in 2019 with reports saying as many as 10.6 million people were affected. Shares of MGM Resorts fell 0.5% to $31.93 in trading Thursday.
"Last summer, we discovered unauthorized access to a cloud server that contained a limited amount of information for certain previous guests of MGM Resorts", a company spokesman said in an emailed statement. No financial, payment card or password data was involved in the incident and the guests affected were notified, the statement said. Technology website ZDNet reported late on Wednesday that the personal details of more than 10.6 million guests who stayed at MGM Resorts hotels were published on a hacking forum this week.
There are 75,203 confirmed cases of COVID-19, the coronavirus first identified in December in Wuhan, China, and 2,009 deaths, according to the most recent figures from the World Health Organization.
HONG KONG/MACAU Feb 19 (Reuters) - Casinos in Macau, the world's biggest gambling hub, reopen on Thursday after being closed for two weeks because of the coronavirus epidemic, but all punters and croupiers will have to wear a mask at the tables. Casino executives and residents say revenue will remain badly crimped in the Chinese territory's 41 casinos and the businesses dependent on them because of the health restrictions and strict entry regulations on tourists. Macau makes over 80 percent of its revenues from casinos but tourist visits have all but dried up.
MGM Resorts International (the "Company") (NYSE: MGM) announced today that it has commenced cash tender offers (the "Tender Offers") to purchase up to $750,000,000 in aggregate principal amount (the "Aggregate Maximum Tender Amount") of its outstanding 5.750% Senior Notes due 2025 (the "5.750% Notes"), 5.500% Senior Notes due 2027 (the "5.500% Notes") and 4.625% Senior Notes due 2026 (the "4.625% Notes" and, collectively with the 5.750% Notes and the 5.500% Notes, the "Notes"). In addition, the Company will only accept for purchase (i) 5.750% Notes having an aggregate principal amount of up to $325,000,000, (ii) 5.500% Notes having an aggregate principal amount of up to $325,000,000 and (iii) 4.625% Notes having an aggregate principal amount of up to $100,000,000 (each a "Tender Cap" and, collectively, the "Tender Caps"). The Company may increase the Aggregate Maximum Tender Amount or the Tender Caps at any time in its sole discretion.
Microsoft, Tailored Brands, Everi, MGM Resorts International and Churchill Downs highlighted as Zacks Bull and Bear of the Day
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...
Macau, the world's biggest gambling hub, will allow casinos to resume operations from Feb. 20, after authorities imposed a two-week suspension to curb spreading of the coronavirus, public broadcaster TDM reported on Monday, citing authorities. The unprecedented halt of gaming operations started on Feb 5 and was due to end on Feb 19. Macau has not reported any new cases of the virus since Feb 4, authorities said.
MGM Resorts International ("MGM Resorts") (NYSE: MGM), MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust ("BREIT") today announced the closing of the previously announced transaction for a joint venture formed between MGP and BREIT to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. In addition, BREIT has purchased approximately 4.9 million MGP Class A shares at a price of $30.67 per share.
Net revenues at MGM Springfield fell by more than $6 million in the fourth quarter of 2019 despite climbing revenues companywide, according to numbers released by the resort casino’s parent company this week.
A consortium led by U.S. entertainment giant MGM Resorts International has been named as the lead bidder for an integrated casino complex in Osaka, the local government said on Friday. Japan is planning to approve the construction of several integrated resorts - Las Vegas-style complexes that include casinos, shopping arcades and conference centres - to boost tourism after the Tokyo Olympics end in August. The government has authorised licences for three resorts and is expected to receive official bids next year from regions vying to build the facilities, potentially including Japan's three largest cities, Tokyo, Yokohama and Osaka.