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MGM Resorts International (MGM)

  • Mon, Jan. 26, 12:04 PM
    • Macau-related stocks trade higher as sentiment swings favorably on the group.
    • A positive note on the sector from Union Gaming Research calling out a bottom for share prices is holding some sway with investors.
    • Also in the mix is the shift in strategy by casinos to focus on the mass-market segment through family entertainment build-out which could provide a vibrant revenue channel or at the least change the conversation.
    • Previously: Sheldon Adelson to be top exec at Sands China (Jan. 24 2015)
    • Previously: Galaxy to bring Broadway to Macau
    • Macau stocks on the move: Las Vegas Sands (NYSE:LVS) +4.8%, MGM Resorts (NYSE:MGM) +3.9%, Wynn Resorts (NASDAQ:WYNN) +5.8%, Galaxy Entertainment (OTCPK:GXYEF) +3.6%.
  • Fri, Jan. 16, 8:38 AM
    • CLSA forecasts Macau gaming revenue will decline 29% Y/Y in Q1.
    • The sector outlook for Q2 from the Hong Kong-based investment bank is for a 20% drop.
    • New projects which launch in the back half of the year should help reverse the traffic slump later in the year, predicts CLSA.
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
  • Thu, Jan. 8, 9:22 AM
    • Wells Fargo upgrades MGM Resorts (NYSE:MGM) to Outperform from Market Perform after watching shares peel off 6.8% in a month.
    • The investment firm points to stronger trends in Las Vegas.
    • Not just a Macau story: MGM took in $1.578B in revenue from U.S. casinos in Q3, compared to $794K from China properties.
    • MGM +1.8% premarket.
  • Tue, Jan. 6, 7:02 AM
  • Fri, Jan. 2, 10:06 AM
    • The campaign to grow Internet gambling stumbled in 2014 with no new states adopting online betting rules and the three states with legal online gambling - New Jersey, Nevada, Delaware - only seeing moderate growth rates.
    • Formidable opposition from within the industry stalled some of the growth efforts.
    • What to watch: PokerStars (OTCPK:AMYGF) seeks a license in New Jersey and online gambling advocates are pushing for a bill in California.
    • Related stocks: CZR, WYNN, MGM, BYD, PENN, IGT, SGMS.
  • Fri, Jan. 2, 7:15 AM
  • Dec. 31, 2014, 12:56 PM
    • Fitch forecasts gaming revenue in Atlantic City will end up falling 8% to $2.6B in 2014 and slide 6% in 2015 to $2.5B.
    • Though the region received some good news when only one casino license was granted by the New York Gaming Facility Location Board earlier this month, regional competition is still a significant factor for AC.
    • Surviving AC casinos face a little less competition at home with four of the region's 12 casinos closing this year.
    • The ratings agency thinks the state of New Jersey might open up gambling outside of Atlantic City in the future to prevent more traffic loss to Pennsylvania and New York casinos.
    • Empire Resorts (NYNY -1.5%), the company which won the license for a casino in the Catskills, plans to build its casino 30 miles closer to the heart of Manhattan than the jaunt is to Atlantic City from mid-town.
    • Related stocks: BYD, CZR, MGM.
  • Dec. 30, 2014, 7:13 AM
    • Visits to Macau increased 15% Y/Y in November, according to the Statistics and Census Service.
    • The number of visits from Mainland China rose 28%.
    • Visits from South Korea increased, while visits from the U.S., Hong Kong, and Taiwan were lower.
    • The average length of a visitor stay was down 0.1 day to 0.9 day on a rise in day-trippers.
    • YTD Macau visits +8% to 28,985,562.
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
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  • Dec. 22, 2014, 11:05 AM
    • Chinese President Xi Jinping devoted most of his energy to taking shots at dissidents in Hong Kong, instead of the gaming industry in Macau, during his visit to the territory over the weekend.
    • Casino analysts didn't see the elevated level of "heavy-handed" rhetoric that some expected.
    • The crackdown by Beijing on corruption and visa restrictions has been a major factor in Macau traffic this year.
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
  • Dec. 19, 2014, 10:32 AM
    • Chinese President Xi Jinping visits Macau this weekend in a trip aimed at promoting new industries in the former Portuguese colony.
    • Yesterday, Macau inked a service trade agreement with China which could open the door for new non-casino development.
    • The financing of VIP junkets continues to be a major topic in the region.
    • What to watch: Casino license discussions begin next year with concessions due to start expiring in 2020. It's expected that most operators will placate Beijing and offer to diversify their operations to a degree.
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
  • Dec. 17, 2014, 9:56 AM
    • Macau casino names are down sharply after reports break of a major crackdown by Beijing on monitoring funds coming into casinos in the gambling mecca.
    • The government says the Ministry's Economic Crimes Investigation Bureau will have broader electronic access to fund transfer information.
    • Previously: Major funds crackdown imminent in Macau
    • Decliners: MGM Resorts (NYSE:MGM) -4.7%, Melco Crown (NASDAQ:MPEL) -3.3%, Las Vegas Sands (NYSE:LVS) -2.8%, Wynn Resorts (NASDAQ:WYNN) -2.9%, Galaxy Entertainment (OTCPK:GXYEF) -7.3%.
  • Dec. 17, 2014, 7:28 AM
    • Beijing is set to launch a major crackdown on tracking the sources of money flowing into Macau casinos, according to the South China Sea Post.
    • Electronic monitoring of all money transfers made through the China UnionPay payment system will be initiated by authorities.
    • Unlike other fleeting crackdowns, this one is being called the "new normal" by casino insiders.
    • Casino stocks crumbled in trading in Hong Kong earlier today.
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
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  • Dec. 16, 2014, 3:25 PM
    • MGM Resorts (MGM -3.5%) confirms it reached a settlement with Perini Building Co. over losses on the Harmon Tower project in the CityCenter complex.
    • CityCenter will receive roughly $195 million related to its Harmon construction defect claims.
    • As part of the settlement, MGM will pay $20M towards CityCenter and $153M to Perini to settle liens not related to Harmon.
    • SEC Form 8-K
    | 1 Comment
  • Dec. 11, 2014, 10:49 AM
    • Wells Fargo forecasts gaming revenue in Macau will fall 23% to 27% in December.
    • The investment firm sets its outlook after factoring in reports on revenue for the first week of the month and analyzing the impact of PRC President Xi Jinping’s visit to Macau next week.
    • "We see the potential for further downside risk to our below-consensus fourth-quarter Macau company estimates," sums up a WF note."
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
  • Dec. 8, 2014, 1:04 PM
    • Macquarie cuts earnings estimates across the Macau gaming sector.
    • The global investment bank warns on operating leverage slipping for the group as labor cost inflation kicks in around new openings.
    • Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
  • Dec. 5, 2014, 7:05 AM
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Company Description
MGM Resorts International is a holding company. The Company through its wholly-owned subsidiaries, owns and operates casino resorts. Its offering includes; gaming, hotel, convention, dining, entertainment, retail and other resort amenities.
Sector: Services
Country: United States