Summary of MGM Resorts International Conference Call Company Overview - **Company**: MGM Resorts International (NYSE:MGM) - **Participants**: William Hornbuckle (CEO), Jonathan Halkyard (CFO), Joseph Greff (JPMorgan) Key Industry Insights - **Core Operations**: Focus on Las Vegas as the primary market, with a robust regional business that has shown resilience during economic fluctuations [3][4] - **Digital Expansion**: Significant growth in digital operations, particularly through BetMGM, projected to reach approximately $2.5 billion in revenue this year [5] - **International Development**: Active pursuits in Japan, New York, UAE, and Thailand for future expansion [6][8] Strategic Priorities - **Mandalay Convention Business**: Anticipation of 100,000 room nights return, expected to enhance productivity [3] - **Event Activity**: Sports events, including the Super Bowl, are key drivers for market growth [3] - **Digital Growth**: Expansion of BetMGM and international operations, including successful launches in the UK and other countries [5][19] Development Opportunities - **Japan**: License won, with construction expected to begin mid-2025, aiming for a 2030 opening [6][9] - **New York**: Awaiting regulatory approvals, with hopes to start construction by early to mid-2026 [10] - **UAE**: Exploring opportunities in non-gaming hotel projects with potential for future casino developments [6][11] - **Thailand**: Early-stage exploration for market entry, focusing on regulatory frameworks [16][18] Financial Performance and Projections - **Room Night Strategy**: Partnership with Marriott expected to drive 600,000 to 700,000 additional room nights annually, enhancing profitability [34][35] - **EBITDA Contribution**: Potential for LeoVegas to contribute $0.5 billion in cash flow if market share targets are met [24] - **BetMGM Growth**: Anticipated revenue growth of approximately 25% this year, with ongoing product enhancements to regain market share [25][26] Operational Insights - **Las Vegas Market**: Improved seasonality management through strategic programming and events, including Raiders games [31] - **Macau Recovery**: Outperforming peers with a focus on high-end offerings and strategic casino reconfigurations [39][40] Capital Allocation Strategy - **Debt Management**: Currently zero net debt, with a focus on disciplined capital allocation for future growth opportunities [49][50] - **Free Cash Flow Utilization**: Plans to use free cash flow for investments in BetMGM, Japan, and New York while considering share repurchases [50] Additional Considerations - **Regulatory Environment**: Ongoing efforts to engage with local governments in UAE and Thailand for potential gaming licenses [11][12] - **Technological Advancements**: Implementation of chip-in-chip technology in Macau to enhance tracking and customer experience [44][47] This summary encapsulates the key points discussed during the conference call, highlighting MGM Resorts International's strategic focus, growth opportunities, and financial outlook.

A month has gone by since the last earnings report for MGM Resorts (MGM) . Shares have added about 0.1% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is MGM due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. MGM Resorts Q4 Earnings & Revenues Top EstimatesMGM Resort ...

MGM Resorts (MGM) closed the last trading session at $42.86, gaining 0.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $54.50 indicates a 27.2% upside potential.The average comprises 15 short-term price targets ranging from a low of $45 to a high of $66.50, with a standard deviation of $5.73. While the lowest estimate indicates an increase of 5% from the current price level, the ...

MGM Resorts International’s (MGM) sports betting and iGaming partner, BetMGM, a prominent player in the sector, has taken a significant stride by introducing mobile sports betting services in North Carolina. This move underscores the company's commitment to expanding its market reach and providing customers with unparalleled gaming experiences.BetMGM CEO, Adam Greenblatt, expressed excitement about tapping into North Carolina's passionate sports fandom, recognizing it as a promising market. BetMGM's innovat ...

Investors interested in stocks from the Gaming sector have probably already heard of MGM Resorts (MGM) and Red Rock Resorts (RRR) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they beli ...

Ad to appear on broadcast and digital platforms throughout North America JERSEY CITY, N.J., March 8, 2024 /PRNewswire/ -- BetMGM, a leading sports betting and iGaming operator, today launched a new 30-second spot that features reigning National Hockey League (NHL) Most Valuable Player (MVP) Connor McDavid and focuses on BetMGM's collection of responsible gaming tools.  McDavid shared the ad in an Instagram post this morning, noting that the message is "all about being responsible if you choose to bet – stay ...

LAS VEGAS, March 7, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") will participate in the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum on Thursday, March 14, 2024. MGM Resorts CEO and President Bill Hornbuckle and Chief Financial Officer and Treasurer Jonathan Halkyard will speak at a session scheduled to begin at 5:40 p.m. ET. A live webcast of the session will be available under the Events & Presentation section of the MGM Invest ...

Collaboration coincides with entertainment leaders' support of Problem Gambling Awareness Month LAS VEGAS, March 1, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) and BetMGM announced today new groundbreaking initiatives in collaboration with Kindbridge designed to support problem gambling research and mental health services. Kindbridge Research Institute and Kindbridge Behavioral Health are organizations that aim to better understand the problems that exist within at-risk communities, deliveri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10362 MGM Resorts International (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or ...