|Bid||29.50 x 800|
|Ask||30.00 x 3200|
|Day's Range||29.27 - 29.57|
|52 Week Range||21.62 - 31.68|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||87.12|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||0.52 (1.79%)|
|1y Target Est||33.81|
MGM Springfield’s gambling revenue was up 2.7% in August compared to July, but figures released by the Massachusetts Gaming Commission show the casino continues to fall well short of projections.
(Bloomberg) -- Blackstone Group Inc. is in advanced talks to buy and lease back the iconic Bellagio and MGM Grand Las Vegas casinos from MGM Resorts International, according to people with knowledge of the matter.They have yet to agree on a transaction and one may not be reached, said the people, who requested anonymity because the talks are private. The terms of the potential deal couldn’t be learned.Representatives for Blackstone and MGM Resorts declined to comment.MGM Resorts shares rose as much as 5% before settling up 1.4% to $29.47 at 12:06 p.m. in New York.MGM Resorts has been exploring selling and leasing back the properties individually or bundled together, Bloomberg News reported in July. Property sales free up cash for casino companies to expand while letting them continue to manage their resorts.The Las Vegas-based company in January formed an independent committee to evaluate ways to extract value from its real estate portfolio. Activist investor Starboard Value built a position in the company with plans to push for changes, Bloomberg News reported that month.What Bloomberg Intelligence Says“A Blackstone deal to buy and lease back Bellagio and MGM Grand -- in advanced talks, Bloomberg reports -- could raise $6.5-$7 billion for a $10 billion resort in Osaka, Japan, where MGM will vie for a license.”\--Brian Egger, Gaming analystMGM Resorts expects to share the results of the review in early fall, Chief Executive Officer Jim Murren said in a conference call with analysts in July.The Bellagio and MGM Grand Las Vegas are two of the crown jewels in MGM Resorts’ portfolio of gaming resorts in the U.S. and China. Together, the properties have more than 10,000 rooms and about 315,000 square feet of casino space, according to the company’s most recent annual report.MGM Resorts could receive proceeds of up to $4 billion selling the Bellagio and nearly $3 billion from a sale of MGM Grand, analysts with Bloomberg Intelligence said in July.Blackstone, a New York-based private equity firm, has built up a hefty war chest for real estate transactions. Last week, it said it raised $20.5 billion for its ninth real estate fund, topping the $15.8 billion it raised for its predecessor vehicle.The firm has a history in the gaming sector. It’s holdings include Spain’s Cirsa Gaming Corp., which it acquired last year for about $1.8 billion, and the Cosmopolitan of Las Vegas, which it acquired in 2014 for $1.7 billion.To contact the reporters on this story: Scott Deveau in New York at firstname.lastname@example.org;Gillian Tan in New York at email@example.com;Christopher Palmeri in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, ;Alan Goldstein at firstname.lastname@example.org, Matthew Monks, Nick TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Blackstone is 'in advanced talks' to buy and lease back the Bellagio and MGM Grand Las Vegas casinos from MGM Resorts, a report says.
LAS VEGAS, Sept. 16, 2019 /PRNewswire/ -- MGM Resorts International (MGM) ("MGM Resorts" or the "Company") was informed that Tracinda Corp., the holding company of MGM Resorts' late founder Kirk Kerkorian, fulfilled instructions from Kerkorian's will to "execute an orderly disposition" of MGM stock. Kerkorian passed away in June 2015. "This is the end of an era and illustrates what made Mr. Kerkorian one of the most visionary, selfless and compassionate leaders of his time," said MGM Resorts Chairman & CEO Jim Murren.
As the world watches how the $2.6 billion casino performs in one of the country’s oldest cities, Encore Boston Harbor’s biggest hurdle over the next year may be its slots revenue.
GameSense milestone coincides with Responsible Gaming Education Week LAS VEGAS , Sept. 12, 2019 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) today announced that GameSense, an innovative responsible ...
As we enter the second full week of September make sure you have a tissues on hand and football on TV. Oh, and don't forget to keep taking financial news with a grain of salt. In this episode of Matt McCall's "Money Line" podcast, he gives you the basics to get through everything this month has to offer (think cold season, NFL and an often-dreaded market period).If you're cozying up to watch -- or listen to -- this podcast with tissues, cough drops and a bad case of the sniffles, you'll find that McCall is in the same boat. However, his advice for getting through cold season doubles as a stock pick.Do you hate going to the doctor when all you need is a prescription for an antibiotic? Find yourself avoiding appointments to not take time off from work? Telemedicine might just be the answer. For McCall, this meant he could video chat with a doctor, discuss his cold symptoms and pick up a prescription in a matter of minutes. For you, this could mean saving time and escaping the misery of waiting rooms. Telemedicine consultations can cover topics ranging from prenatal care to oncology to dermatology.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMcCall sees Teladoc Health (NYSE:TDOC) as one of the perfect plays for the future of medicine. According to UnitedHealth (NYSE:UNH), 70% of people are willing to or have already tried telemedicine. These survey results are promising for TDOC stock, but a new deal with UnitedHealth may be even more promising. Later this month, Teladoc will become the national virtual visit provider within UnitedHealth's network. This spells good things for TDOC stock and for sniffly workers. McCall's PodcastSeptember isn't just the start of cold season. It also marks the start of the NFL's regular season -- and what's historically considered one of the worst months in the market. Tune in to this episode to get tips on how to handle this dreaded month. * 7 Best Tech Stocks to Buy Right Now McCall's VIP subscribers might know that he's picked four "NFL stocks" to watch. He thinks these are positioned to benefit from the U.S. Supreme Court's May 2018 decision to reverse the Professional and Amateur Sports Protection Act. This law made it illegal to wager on single-game results anywhere other than in Nevada. Only a handful of states have jumped on the betting bandwagon, but McCall thinks that by 2022 it will be every state.If you join him in getting ahead of the trend, there may be huge upside ahead. Just look at the recent deal between Buffalo Wild Wings and MGM Resorts (NYSE:MGM). Now patrons can place bets at the table through a handy smartphone app.Tune in to "Money Line" for more of McCall's analysis on TDOC stock, his call on the future of sports betting and his calming words as September continues to unfold.Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you're interested in making triple-digit gains from the world's biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post VIDEO: Check Out Teledoc Stock Before Checking in at the Doctor's appeared first on InvestorPlace.
Macau witnesses Gross Gaming Revenue decline in August. However, MGM Resorts (MGM) and Caesars Entertainment (CZR) continues to expand sports betting footprint.
MGM Resorts has signed a deal to promote its mobile gaming app inside Buffalo Wild Wings restaurants.
MGM Resorts International (NYSE: MGM ) is teaming with restaurant chain Buffalo Wild Wings to jointly offer sports betting where it's legal to do so through Roar Digital's BetMGM digital gaming platform. ...
JERSEY CITY, N.J., Sept. 6, 2019 /PRNewswire/ -- Roar Digital, LLC – the 50/50 joint venture created by MGM Resorts International (MGM) and GVC Holdings (GVC.L) – today launched the BetMGM online gaming app in the state of New Jersey. BetMGM is a new customer experience as well as a rebranding of the online gaming app, PlayMGM, introduced by MGM in 2017. The product incorporates the new GVC Sportsbook platform, giving customers a seamless betting and gaming experience, and will be the core mobile platform utilized for future state rollouts.
Wynn Resorts and three other casinos have their stock price targets cut by a J.P. Morgan analyst Friday over concerns about events impacting Macau.
Buffalo Wild Wings and MGM Resorts International (NYSE: MGM) announced a partnership Thursday to bring sports wagering to the self-proclaimed largest sports bar chain in the U.S., but it will struggle to get off the ground in D.C., at least in the short-term. While D.C.’s recently finalized sports betting regulations allow in-person betting, they do not permit venues within a two-block radius of the city’s professional sports complexes — Nationals Park, Capital One Arena, Audi Field and the St. Elizabeths East Entertainment and Sports Arena.
MGM Resorts International (NYSE:MGM) stock is about to trade ex-dividend in 3 days time. If you purchase the stock on...
LAS VEGAS, Sept. 4, 2019 /PRNewswire/ -- Las Vegas is now home to the country's most extensive collection of tequila and mezcal including agave-based spirits that cannot be found anywhere else in the world.
Atlantic City's market-leading resort to introduce new Lobby Bar, VIP check-in, and redesigned Fiore Suites ATLANTIC CITY, N.J. , Sept. 4, 2019 /PRNewswire/ -- Borgata Hotel Casino & Spa , an MGM Resorts ...
"We know that for many, the Village property will forever be linked to the tragic loss of life that took place there on October 1st. As the second anniversary nears, we remain committed to being part of the community effort to continue healing and moving forward. In this spirit, MGM Resorts plans to build a community and athletic center on the north end of the property, which will be home to sporting events and community gatherings.
Beginning September 9, nonprofits to submit applications online at www.mgmresortsfoundation.org LAS VEGAS , Sept. 3, 2019 /PRNewswire/ -- Beginning September 9 , The MGM Resorts Foundation will accept ...
New Jersey is ready to overtake Las Vegas as the sports betting capital of the U.S., according to The New York Post. The state, with help from the NFL, is poised to take the lead in newly legal sports ...
Some hotel operators — MGM Resorts, RLH, Omni, Radisson, and Melia — have been fine-tuning their efforts at setting rates for rooms, upgrades, and other services. They've been leveraging a growing prowess at automation and cross-department teamwork to set prices for maximum profit. A case in point: MGM Resorts International has aimed to add tens […]