|Bid||31.09 x 3100|
|Ask||31.80 x 3200|
|Day's Range||31.02 - 31.34|
|52 Week Range||21.62 - 31.68|
|Beta (3Y Monthly)||1.48|
|PE Ratio (TTM)||10,393.33|
|Earnings Date||Feb 11, 2020 - Feb 17, 2020|
|Forward Dividend & Yield||0.52 (1.68%)|
|1y Target Est||33.76|
More than $10 billion dollars has been wagered on sports so far this year, and our sister site Yahoo Sports is getting in the game. Yahoo Sportsbook launched Thursday allowing users to see odds for a range of sports. Yahoo FInance’s Adam Shapiro, Julie Hyman and Dan Howley discuss with Verizon Media CEO Guru Gowrappan.
Star-Studded Audience Enjoys Strip's Newest Production LAS VEGAS , Nov. 15, 2019 /PRNewswire/ -- Last night, Nov. 14, 2019 , Luxor Hotel and Casino hosted the world premiere of the Strip's newest production, ...
(Bloomberg) -- MGM Resorts International and MGM Growth Properties LLC are seeking an investor for a joint venture that would own at least two prominent Las Vegas properties, according to people with knowledge of the matter.The duo have solicited interest in the MGM Grand Hotel & Casino and the Mandalay Bay Resort & Casino from investors that have historically bet on gaming properties, said the people, who requested anonymity because the talks are private. A representative for MGM Resorts declined to comment and representatives for MGM Growth Properties didn’t immediately respond to requests for comment.MGM Resorts created the real estate investment trust MGM Growth in 2016 and sold a minority interest to the public. The REIT owns most of MGM Resorts’ casinos and leases them back to the company to operate.MGM to Pay Up to $800 Million to Vegas Mass-Shooting VictimsThe Mandalay Bay is one of 13 properties owned by MGM Growth according to a filing. The MGM Grand, one of few properties still owned by MGM Resorts, is expected to be sold by the end of the year, the company said last month. The transaction would mark one of the final steps toward its goal of becoming an “asset-light” casino operator.Last month, it agreed to sell the Bellagio to Blackstone Group in a $4.25 billion deal and the Circus Circus casino to real estate mogul Phil Ruffin.To contact the reporters on this story: Gillian Tan in New York at firstname.lastname@example.org;Christopher Palmeri in Los Angeles at email@example.comTo contact the editors responsible for this story: Alan Goldstein at firstname.lastname@example.org, Craig GiammonaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Insider buying can be an encouraging signal for potential investors. A new chief executive officer at a Dow Jones industrial purchased shares this week. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit.
The ongoing pro-democracy protests in Hong Kong have ravaged the region and are threatening the safety and livelihood of residents — and businesses.
LAS VEGAS, Nov. 7, 2019 /PRNewswire/ -- In celebration of America's service members, MGM Resorts International will host "A Salute to the Troops" honoring more than 80 wounded warriors and their guests over Veterans Day weekend. In its ninth year, the five-day program in collaboration with American Airlines and the USO of Metropolitan Washington-Baltimore (United Service Organizations), USO Camp Pendleton and USO Las Vegas will be an extended weekend of relaxation, entertainment and sightseeing for active duty service members traveling from the Washington, D.C., and southern California areas.
Stocks Jump On Report of Dismount Off Tariff High Horse Maybe. Tomorrow, news could change again. China and the United States have reportedly agreed to cancel tariffs in phases. This was reported not by the Trump Administration, but by the Chinese commerce ministry, which maybe gives it a better chance of being true rather than […]The post Market Morning: Tariff Truce, Disney Defends, Colorado Legalizes Betting, SoftBank Plummets appeared first on Market Exclusive.
The Zacks Analyst Blog Highlights: Scientific Games, Boyd Gaming, MGM Resorts International and International Game Technology
Panelists at the NYC Sports Betting Investor Summit on Nov 4 said that the U.S. sports betting market will reach a worth of almost $7 billion to $8 billion over the next five years.
LAS VEGAS, Nov. 4, 2019 /PRNewswire/ -- MGM Resorts International today announced an evolved vision for social impact and sustainability including setting goals to bolster diversity and inclusion, donate millions of meals and continue offering scholarship and educational opportunities for employees and their families. Through a commitment to be "Focused on What Matters: Embracing Humanity and Protecting the Planet," MGM Resorts is committing to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests and in the communities where the Company operates. "As a company with a global presence and more than 80,000 employees worldwide, MGM Resorts recognizes our responsibility extends beyond simply serving our customers and growing our bottom line.
Gambling revenue in the Chinese territory of Macau dropped 3.2%in October, as the U.S.-China trade war and political turmoil in neighbouring Hong Kong tempered demand from high rollers. The lower revenue was also partly because high rollers stayed away during national holidays earlier in the month, when Macau joined celebrations for the 70th anniversary of the founding of the People's Republic of China. Anti-government protests in the Chinese-controlled Hong Kong have disrupted transport and deterred travel to Macau in recent months, and while analysts say the impact on gaming has been minimal, the turmoil has added to a gloom stemming from a softening Chinese economy and weaker yuan currency.
Gambling revenue in the Chinese territory of Macau dropped 3.2%in October year on year, hit by tempered demand from high-roller gamblers due to slowing economic growth amid the Sino-U.S. trade war and protests in neighbouring Hong Kong. October's figure of 26.4 billion patacas ($3.27 billion) comes after China celebrated its 70th anniversary of the founding of the People's Republic at the start of the month.
The MGM Springfield casino brought in $76 million in net revenue over the most recent quarter, according to earnings figures released Wednesday afternoon by parent company MGM Resorts International.
(Bloomberg) -- MGM Resorts International expects to announce a buyer for its flagship MGM Grand resort in Las Vegas by the end of year, marking one of the final steps toward its goal of becoming an “asset-light” casino operator.The company agreed this month to sell the Bellagio resort in Las Vegas to Blackstone Group in a $4.25 billion deal under which MGM will continue to manage the property. MGM is also selling its Circus Circus casino in the city to real estate mogul Phil Ruffin.Chief Executive Officer Jim Murren said on a conference call Wednesday that he’ll use the proceeds from the MGM Grand sale to reduce debt and invest in new growth opportunities, including a potential $10 billion casino in Japan and sports betting in the U.S.The company’s transition should result in higher free cash flow per share and a more flexible financial structure that allows MGM to better capitalize on its strengths as a casino developer and manager, Murren said.MGM Resorts is continuing to evaluate the sale of its remaining real estate assets -- including CityCenter, a joint venture with Dubai World that owns the Aria resort in Las Vegas. The company also plans to reduce its majority stake in MGM Growth Properties, a real estate investment trust, Murren said.A half-dozen large real estate investors considered buying the Bellagio before Blackstone won out, according to Murren. He said the company is committed to reducing its stake in MGM Growth Properties to under 50% or less. The REIT could be a buyer of the MGM Grand.“If it came down to a transaction between a third party and MGP, we’re always going to favor MGP in a close race,” Murren said.The company has been under pressure from activist investors to boost its stock price over the past few years. Murren has taken steps to do so, including two rounds of companywide cost cutting.In 2016, the company put the bulk of its properties into MGM Growth. That entity also has an option to purchase a Massachusetts casino, the MGM Springfield, which will become the company’s last wholly owned casino in the U.S. once the MGM Grand sale is completed.Separately, MGM reported third-quarter sales that fell short of analysts’ estimates as result of fewer Asian visitors playing baccarat in Las Vegas. Profit beat expectations on the acquisition of new regional casinos and the addition of new high-roller suites in Macau.The shares were up 1.3% to $29 in extended trading. The stock initially fell, but recovered after the MGM Grand sale plan was announced.Murren reiterated his target of as much as $3.9 billion in earnings before interest, taxes, depreciation and amortization next year.(Updates sale plans starting in sixth paragraph)To contact the reporter on this story: Christopher Palmeri in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MGM (MGM) delivered earnings and revenue surprises of 6.90% and -1.66%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
LAS VEGAS , Oct. 30, 2019 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended September 30, ...
Yahoo Sports will provide sports betting through the BetMGM platform on its app, starting in November, the company said Tuesday. Verizon-owned Yahoo said it's agreed a multi-year partnership with Roar Digital, which is owned by a venture from MGM Resorts and GVC Holdings . Financial terms weren't disclosed.
Yahoo Sports is an official Digital Media Sports Partner of MGM Resorts. LAS VEGAS, Oct. 29, 2019 /PRNewswire/ -- Guru Gowrappan, CEO of Verizon Media and Jim Murren, Chairman and CEO of MGM Resorts International announced today that Yahoo Sports has entered into a historic partnership with MGM Resorts and Roar Digital, a joint venture between global gaming industry leaders MGM Resorts and GVC Holdings, to power sports betting for Yahoo Sports and create collaborative content experiences and live events.