Streetbeat News

MGM

MGM Resorts International

https://www.mgmresorts.com

Industry

Gambling, Resorts & Casinos

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. As of February 17, 2021, its portfolio consisted of 29 hotel and destination gaming offerings. The company also owns and operates Las Vegas Strip Resorts and Fallen Oak golf course. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.

Open

37.66

Mkt cap

11B

Volume

2.6M

High

37.66

P/E Ratio

13.32

52-wk high

48.25

Low

36.67

Div yield

N/A

52-wk low

33.44

The 2024 NCAA Men's Basketball Tournament highlights the incredibly low odds of achieving a perfect bracket, with Connecticut as the favorite. DraftKings, BetMGM, Bally's Corp, Berkshire Hathaway, and PepsiCo are engaging fans with contests and promotions, while Warner Bros. Discovery and Paramount Global hold broadcasting rights. The odds of a perfect bracket are 1 in 9.2 quintillion, but knowledge of basketball improves odds to 1 in 128 billion.

Portfolio Pulse from Chris Katje

March 21, 2024 | 1:20 pm

MGM Resorts is reportedly exploring the sale of its casino properties in Ohio and Massachusetts, according to Bloomberg. This move could indicate a strategic shift or financial restructuring for the company.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:09 pm

PepsiCo has launched the 'Zero Right Bracket Challenge' in partnership with DraftKings for the NCAA Men's Basketball Tournament, offering $100,000 for a perfectly incorrect bracket. The challenge highlights Pepsi's zero sugar drinks and is free to enter. The contest emphasizes the improbability of perfect brackets, with historical attempts and big prizes noted, including Warren Buffett's $1B offer. The games will be aired by Warner Bros. Discovery and Paramount Global.

Portfolio Pulse from Chris Katje

March 18, 2024 | 4:41 pm

Shares of sports betting-related stocks, including DraftKings Inc. (DKNG) and MGM Resorts International (MGM), are trading higher, potentially due to anticipation of the 2024 NCAA tournament.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 4:34 pm

Insiders at MGM Resorts, BJ's Wholesale Club, Flowers Foods, and Gap have recently sold significant amounts of shares. These sales occur amidst various financial results for each company, with Gap and MGM Resorts reporting strong results, BJ's Wholesale experiencing slight sales growth miss, and Flowers Foods posting downbeat earnings.

Portfolio Pulse from Avi Kapoor

March 14, 2024 | 12:19 pm

MGM Resorts Intl (NYSE:MGM) has seen a 22.73% increase in short interest, now at 11.30 million shares or 4.59% of its float, indicating a bearish market sentiment. This compares to a peer group average of 4.15%. Short interest can signal market views on a stock, with increases often seen as bearish. However, rising short interest can also present bullish opportunities under certain conditions.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 6:00 pm

BetMGM, a leading sports betting and iGaming operator, has launched mobile sports betting in North Carolina, offering a wide range of betting options and real-world rewards. The launch includes a partnership with Charlotte Motor Speedway to enhance race day experiences and an extended partnership with Richard Childress Racing. BetMGM's platform features advanced technology for pre-game and in-game betting, a loyalty program with MGM Resorts, and a focus on responsible gambling with resources like GameSense.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:08 pm

MGM Resorts International and its online betting arm, BetMGM, have announced partnerships with Kindbridge to advance research and provide mental health services for problem gambling. This initiative underscores the companies' commitment to responsible gambling and mental health support.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 11:10 am

Morgan Stanley analyst Stephen Grambling maintains an Equal-Weight rating on MGM Resorts Intl (NYSE:MGM) and raises the price target from $44 to $45.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:59 pm

Hackers from the 'Blackcat' ransomware gang disrupted UnitedHealth Inc's prescription deliveries by targeting its technology unit, Change Healthcare. UnitedHealth, which merged Change with Optum in 2022, is investigating the breach with Alphabet Inc's cybersecurity unit, Mandiant. The hack has also affected pharmacy chains like CVS Health Inc and Walgreens Boots Alliance Inc, impacting their ability to process prescriptions and insurance claims. The incident raises questions about UnitedHealth's cybersecurity measures and has knock-on effects on related businesses.

Portfolio Pulse from Vandana Singh

February 27, 2024 | 4:12 pm

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