Profile
Sector:
Consumer CyclicalIndustry:
Resorts & CasinosCountry:
United StatesIPO:
02 May 1988Website:
http://www.mgmresorts.comNext earnings report:
13 February 2025Last dividends:
08 December 2022Next dividends:
N/APrice
regular market | 4 min agoAnalysts recommendations
Institutional Ownership
Included in screeners
MGM Latest News
MGM aims to grow by forming strategic partnerships and expanding internationally. Nevertheless, they are worried about the high costs involved.
Casino and gaming stocks have been bouncing back since they reopened after suffering greatly due to the COVID-19 pandemic. It's surprising, but Macau, the biggest gaming hub in the world, only fully reopened in February 2023 when China eased its strict zero-COVID policies after three years.
Over Veterans Day weekend, more than 100 injured service members and their guests will visit Las Vegas. MGM Resorts International will host the USO Experience: Salute to the Troops, which honors these active-duty service members starting on Friday, November 8. This event, now in its 14th year, will be held at Mandalay Bay Resort & Casino and will last for five days.
Exciting new activities have been announced for the unique race weekend at famous resorts along the Center Strip. For more details and to make reservations, click here and follow @MGMResortsIntl for updates. MGM Resorts International is ready to go all out for the second round of the Las Vegas Grand Prix, offering a variety of events to entertain fans before and during the race weekend.
This entertainment company has strong fundamentals, but the market's response to its earnings is misinterpreting its potential.
MGM's revenue for the third quarter shows significant support from MGM China, resorts on the Las Vegas Strip, and regional operations.
While the revenue and earnings per share (EPS) for MGM (MGM) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.
MGM Resorts (MGM) reported quarterly earnings of $0.54 per share, which is lower than the Zacks Consensus Estimate of $0.58 per share. This is a decrease compared to earnings of $0.64 per share from the same period last year.
MGM Resorts International announced record consolidated net revenues for the third quarter, largely due to strong performance from MGM China. The company also declared a special dividend in August 2024, providing around $200 million in cash to MGM Resorts this year. Additionally, BetMGM experienced significant growth, with net revenues rising nearly 20% compared to the previous year, and the company is expanding its international digital strategy with a new partnership in Brazil.
W Las Vegas is the newest development in the ongoing partnership between MGM Resorts International and Marriott International. They plan to transform a well-known property on the Las Vegas Strip into a W Hotels location, which is part of the Marriott Bonvoy® collection. This conversion is expected to be finished later this year, following their strategic licensing agreement made in July 2023.
What type of business is MGM Resorts International?
MGM Resorts is a holding company that, through its subsidiaries, owns and operates integrated complexes, including casinos, hotels, and entertainment resorts in the United States and Macau. Founded in 1986, the headquarters is located in Las Vegas, Nevada, USA. The majority of the company's revenue is based on cash: customers place bets with cash or pay for non-gaming services with cash or credit cards. The company heavily relies on the resorts' ability to generate operating cash flow to fund capital expenditures, provide excess cash flow for future development, acquisitions, or investments, as well as to repay debt obligations.
What sector is MGM Resorts International in?
MGM Resorts International is in the Consumer Cyclical sector
What industry is MGM Resorts International in?
MGM Resorts International is in the Resorts & Casinos industry
What country is MGM Resorts International from?
MGM Resorts International is headquartered in United States
When did MGM Resorts International go public?
MGM Resorts International initial public offering (IPO) was on 02 May 1988
What is MGM Resorts International website?
https://www.mgmresorts.com
Is MGM Resorts International in the S&P 500?
Yes, MGM Resorts International is included in the S&P 500 index
Is MGM Resorts International in the NASDAQ 100?
No, MGM Resorts International is not included in the NASDAQ 100 index
Is MGM Resorts International in the Dow Jones?
No, MGM Resorts International is not included in the Dow Jones index
When was MGM Resorts International the previous earnings report?
No data
When does MGM Resorts International earnings report?
The next expected earnings date for MGM Resorts International is 13 February 2025