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Nomura sees deleveraging gains for MGM Resorts

|About: MGM Resorts International (MGM)|By:, SA News Editor

Nomura Instinet analyst Harry Curtis thinks one of the impacts of MGM Resorts (NYSE:MGM) monetizing its Bellagio property is that it sets a precedent for higher real estate valuations.

"To the extent MGM Grand can be sold at a similar mid-teens multiple that Bellagio's real estate sold for, that should likewise further de-lever MGM’s balance sheet and enhance value," notes Curtis.

Nomura keeps a Buy rating on MGM.

Shares of MGM are up 1.18% premarket to $28.20.

Previously: MGM Resorts inks deal to monetize Bellagio (Oct. 15)

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