Nevada's largest employer partners with SNWA to offer extra water savings incentives LAS VEGAS, March 21, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") announced today that it has partnered with the Southern Nevada Water Authority (SNWA) to incentivize residential water conservation for its more than 50,000 employees in Southern Nevada. Through a $500,000 grant to the SNWA Water Efficiency Improvement Fund, MGM Resorts employees will earn additional rebates whe ...

Unprecedented collaboration between sports betting and hospitality leaders to reach millions with real-world rewards Features sweepstakes for the opportunity to win VIP Los Angeles vacation curated by Blake GriffinBETHESDA, Md. and JERSEY CITY, N.J., March 18, 2024 /PRNewswire/ -- Marriott Bonvoy, Marriott International's award-winning travel program, and BetMGM, a leading sports betting and iGaming operator, today launched an unprecedented rewards collaboration in the online sports betting and iGaming indu ...

MGM Resorts International (NYSE:MGM) J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum March 14, 2024 5:40 PM ET Company Participants William Hornbuckle - CEO and President Jonathan Halkyard - CFO Conference Call Participants Joseph Greff - JPMorgan Joseph Greff Good afternoon, everybody. We're continuing our fireside chat sessions, with the team from MGM Resorts. To my immediate left is Bill Hornbuckle, Chief Executive Officer; to his immediate left is Jonathan Halkyard, Chief Fina ...

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 ...