37.19 +0.17 (0.46%)
After hours: 4:37PM EST
|Bid||36.90 x 500|
|Ask||37.28 x 5000|
|Day's Range||36.96 - 37.43|
|52 Week Range||25.15 - 37.43|
|PE Ratio (TTM)||36.37|
|Earnings Date||Feb 20, 2018|
|Forward Dividend & Yield||0.44 (1.19%)|
|1y Target Est||39.13|
Jim Cramer tracked the casino stocks' months-long rebound to gauge whether an improving outlook overseas could still drive the sector higher.
U.S. casino magnate Steve Wynn, head of the eponymous Wynn Resorts, said he was confident his casino business in the world's largest gambling hub of Macau would continue after casino contracts start to expire by 2020. The Chinese-controlled territory has been a goldmine for Wynn, generating more than 75 percent of its total revenues through subsidiary Wynn Macau. The expiry of casino licences in the former Portuguese colony has been a critical issue for operators, such as Sands China, MGM China and SJM Holdings, with the first round of licences due to expire in two years.
Shares of casino stocks are higher on Monday, following Wynn Resorts' (WYNN) upbeat fourth-quarter earnings report--a report that could signal a winning hand in casino's like MGM Resorts International (MGM) and Las Vegas Sands (LVS). Wynn Resorts said it earned $1.49 a share, on revenue of $1.69 billion. Analysts were looking for earnings per share of $1.38 on sales of $1.57 billion.
Mario Gabelli [wheeling a model of a skeleton on a stand to the front of the table]: This is an active manager. Madison Square Garden [MSG] has 23.5 million shares outstanding. The stock trades for $213, and the equity capitalization is about $5 billion.
LAS VEGAS, Jan.18, 2018 /PRNewswire/ -- MGM Resorts International (MGM) will release its financial results for the fourth quarter and full year 2017 before the market opens on Tuesday, February 20, 2018. MGM Resorts will host a conference call that day at 11:00 a.m. Eastern Time, which will include a brief discussion of the results followed by a question and answer session. The call will be accessible via the Internet through http://investors.mgmresorts.com/investors/events-and-presentations/ or by calling 1-888-317-6003 for domestic callers and 1-412-317-6061 for international callers.
Police in the world's largest gambling hub of Macau are hunting for a dealer suspected of stealing HK$48 million ($6 million) worth of casino chips from Wynn Macau, authorities in the Chinese-controlled territory said on Thursday. Casino thefts in the former Portuguese colony of Macau, which rakes in gambling revenue more than five times that of the Las Vegas strip, are rare, with the majority of cases typically involving employees. Wynn confirmed to Reuters in an email that the matter was being handled by the police.
This new program, in which MGM Resorts donates surplus (prepared but unserved) hot banquet food to Three Square, is expected to provide 800,000 nutritious meals by 2020 to people combating hunger. Food insecurity is one of the most serious public health challenges in the United States, according to statistics from the United States Department of Agriculture.
Casino operators like Las Vegas Sands (LVS) and Wynn Resorts (WYNN) have done well in the past year, and Morgan Stanley's Thomas Allen expects that strength to continue—and for laggard MGM Resorts International (MGM) to see a better 2018. Allen and his team write that Wynn is still their favorite pick for the New Year, thanks to strength in Macau and Wynn’s outperformance there. For Macau, Allen raised his 2018 gaming revenue growth forecast to 16% from 11%, driven by stronger visitation and spending trends and following 20% revenue growth in the fourth quarter, which easily topped his expectations of 15%.
LAS VEGAS, Jan. 16, 2018 /PRNewswire/ -- MGM Resorts International (MGM) today announced the appointment of Sean Christie as its President of Events and Nightlife. As the demographics of travelers evolve and they become more and more sophisticated in what they are looking for, Christie will help identify and execute dynamic, engaging hospitality and entertainment experiences around the world. Bill Hornbuckle, President of MGM Resorts, said, "We are fortunate to have Sean join us.
LAS VEGAS, Jan. 12, 2018 /PRNewswire/ -- MGM Resorts International (MGM) signed the American Association of Retired Persons Employer Pledge, signaling to the communities in which it operates that it values and hires experienced workers. The AARP Employer Pledge Program, a national effort to connect employers with job seekers who are over 50, allows MGM Resorts to reach those who might not have considered a career in the hospitality and entertainment industry. Believe in equal opportunity for all workers, regardless of age.
When MGM Resorts International sold MGM National Harbor to its affiliated real estate investment trust , it paid off in a big way — to Prince George's County. The transaction between MGM Resorts (MGM) and MGM Growth Properties (MGP) brought with it a check for $23.2 million in deed transfer and recordation taxes, the largest single payment in the county's history, Thomas Himler, a top county economic development and finance official, tells me.
LAS VEGAS, Jan. 12, 2018 /PRNewswire/ -- MGM Resorts International (MGM) ("MGM Resorts" or the "Company") announced today the debut of its new investor relations website. The redesigned website aligns closely in aesthetics and functionality with our corporate website and offers quick and intuitive access to essential information such as company news, financial and stock information, presentations and webcasts, SEC filings, and corporate governance information. Concurrently with the website launch, the Company has also made available a new Investor Presentation which can be found under "Investor Presentation" within the "Overview" section of the website.
A Relative Strength Rating upgrade for MGM Resorts International shows improving technical performance. Will it continue?
LAS VEGAS, Jan. 10, 2018 /PRNewswire/ -- Thousands of Las Vegans are expected to line downtown streets Monday, Jan. 15, to cheer on participants of the 36th annual Dr. Martin Luther King, Jr. Parade. Hailed as one of the nation's largest parades west of the Mississippi River celebrating the ideals and life of Dr. King, the parade will kick off at 10 a.m. with the route starting at Fourth Street and Gass Avenue. Wendell P. Williams, founder of the Dr. Martin Luther King, Jr. Committee, the nonprofit organization that plans and hosts the parade, says this year's parade promises to provide a variety of entertainment, including floats, exotic vehicles, marching bands and dancers.
MGM Resorts International (MGM) is higher on Tuesday, thanks to a JPMorgan report calling it the "best absolute value play" in gaming. Analyst Joseph Greff and his team reiterated an Overweight ...
MGM Resorts International (NYSE:MGM) continues its climb from years of massive losses. While MGM has had to play catch up regarding a Chinese presence, the company’s move to catch up may position MGM stock for continued growth. Many think of the image of MGM as the roaring lion that greets the beginning of all films distributed by Metro-Goldwyn-Mayer Studios, Inc. (not currently affiliated with MGM Resorts).
Casino stocks are stumbling out of the gate in 2018 after Macau finished 2017 with a December revenue number that fell just short of consensus analyst expectations. Melco Resorts & Entertainment Ltd (ADR) ...
Wall Street was poised for an upbeat session on the first trading day of 2018, fueled by strong commodity prices and a weak dollar, signaling that stocks were set to extend last year's strong run. Major stock indexes closed out 2017 with their best performance since 2013, powered by a combination of strong economic growth, solid corporate earnings, low interest rates and hopes of corporate tax cuts. "The first week of trading usually suggests the overall trend of the markets which we expect to be positive," Peter Cardillo, chief market economist at First Standard Financial in New York, wrote in a note.
Gaming revenue in the Chinese territory of Macau rose for the first time in three years in 2017 as high-end punters' appetite for gambling recovers after a protracted government campaign against shows of wealth among public officials and slowing economic growth. Figures from Macau's Gaming Inspection and Coordination bureau on Monday showed revenues rose 19 percent for 2017 to 265.7 billion patacas ($33.13 billion). Winnings have been higher for operators such as Sands China Ltd, Wynn Macau Ltd, Galaxy Entertainment Group Ltd and Melco Resorts & Entertainment Ltd which have casinos on the Cotai strip - a stretch of reclaimed land which now boasts some of Macau's most opulent properties.