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

MGM Resorts has announced that all of its hotels and casinos are operating normally. However, mobile check-in and digital keys are currently unavailable. The company is also not offering cash advance or check cashing services at this time.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:15 pm

Several major companies have made headlines. Amazon has hired Microsoft's Chief Product Officer, Panos Panay. Google is under scrutiny for allegedly manipulating ad auctions. Taiwan Semiconductor Manufacturing is planning to boost packaging capacity in Arizona. Microsoft has addressed a security incident involving sensitive information exposure on GitHub. Novo Nordisk has partnered with Aspen Pharmacare to produce insulin in South Africa. BeiGene has regained rights to its cancer drug from Novartis. Rocket Lab's 41st mission faced technical issues. The European Commission has approved ViiV Healthcare's HIV prevention drug. AutoZone's Q4 earnings exceeded estimates. BP has appointed Kate Thomson as interim CFO. MGM Resorts may lose out on casino licenses in NYC due to a scandal. Google and the Department of Defense are developing an AI-powered microscope. Apple faces threats from Huawei in China. Google's Bard AI chatbot is being integrated with Gmail, Google Docs, and YouTube. Starbucks is facing a lawsuit over its 'fruit' drinks.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 2:01 pm

MGM Resorts International's chances of winning two of the three full-scale casino licenses in New York City have reportedly become complicated due to an alleged bookmaking scandal in Las Vegas. The scandal involves the former head of the MGM Grand casino in Las Vegas, Scott Sibella, who was made to step down as president and operating chief of Resorts World. This could potentially benefit MGM's rivals in the casino race, including Bally's Corp, Caesars Entertainment Inc, Las Vegas Sands Corp, and Wynn Resorts Limited.

Portfolio Pulse from Shivani Kumaresan

September 19, 2023 | 12:13 pm

MGM Resorts International's bid for casino licenses in the New York City area could be in jeopardy following the departure of Resorts World head Scott Sibella, according to a report by the NY Post. The report suggests that the recent scandal involving Las Vegas bookies could potentially disrupt the NYC casino race.

Portfolio Pulse from Charles Gross

September 19, 2023 | 8:56 am

DraftKings Inc (NASDAQ:DKNG) is seen as a potential winner in the sports betting sector by Needham analyst Bernie McTernan, who maintains a Buy rating on the company with a $44 price target. DraftKings ranked as the top sportsbook for a second straight week and fourth among sports-related apps in the iOS store. Competitors FanDuel (OTC:PDYPY) and BetMGM (NYSE:MGM) ranked fifth and 17th respectively in the iOS sports app rankings. McTernan sees DraftKings as a leader in the emerging North American online gambling market, a $35B opportunity.

Portfolio Pulse from Chris Katje

September 18, 2023 | 4:05 pm

The article reports on unusual options activity in the Consumer Discretionary sector. Ten companies are mentioned: Tesla (TSLA), Carvana (CVNA), Ford (F), Airbnb (ABNB), MGM Resorts (MGM), Royal Caribbean (RCL), Cava (CAVA), D.R. Horton (DHI), McDonald's (MCD), and Dick's Sporting Goods (DKS). The article provides details on the type of options activity (put/call), trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume for each company.

Portfolio Pulse from Benzinga Insights

September 15, 2023 | 5:35 pm

U.S. stocks ended Thursday in the green with Carvana, ARM Holdings, Ford, MGM Resorts, and Tesla gaining attention. Carvana shares surged by 13.47% amid a potential UAW strike that could lead consumers to the used car market. ARM Holdings rose by 24.69% after its U.S. stock market debut following regulatory challenges to Nvidia's acquisition. Ford's stock slightly decreased due to the looming UAW strike. MGM Resorts saw a minor increase despite a recent cyberattack. Tesla's stock rose by 1.75% as Ark Invest resumed selling its shares.

Portfolio Pulse from Benzinga Neuro

September 15, 2023 | 1:47 am

The 2023 NFL season's opening week saw a 56% YoY surge in sportsbook logins and 1.1 million new customers. GeoComply Solutions recorded over 242 million geolocation transactions from customers at U.S. sportsbooks. The data could be positive for sportsbook companies like DraftKings, Flutter Entertainment's FanDuel, and BetMGM. Needham analyst Bernie McTernan rates DraftKings a Buy with a $44 price target. ESPN Bet platform from Penn Entertainment through a licensing deal with The Walt Disney Company is also expected to launch later this year. Genius Sports, the exclusive carrier of NFL games data, could also benefit from the increased activity.

Portfolio Pulse from Chris Katje

September 14, 2023 | 6:02 pm

Benzinga's options activity scanner has identified unusual options activity in the Consumer Discretionary sector. The stocks with notable activity include Tesla (TSLA), Rivian (RIVN), ADT (ADT), Carvana (CVNA), MasterCraft Boat Holdings (MCFT), MGM Resorts (MGM), Airbnb (ABNB), Starbucks (SBUX), Dave & Buster's (PLAY), and NIO (NIO). The activity includes both call and put options with varying sentiments and expiration dates.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 5:35 pm

MGM Resorts has confirmed that a cyber attack led to the closure of multiple hotel casinos, raising concerns about a potential data breach.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 12:44 pm

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