Viva Las Vegas! MGM's U.S. Events Draw a Buy Rating. China Gives Hope to Casinos. [MarketWatch]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: MarketWatch
Truist's Barry Jonas upgraded his rating on the casino stock (ticker: MGM) to Buy from Hold after nearly two years. He believes the number and quality of events planned for Las Vegas in the quarters ahead should drive the stock's relative outperformance. Jonas pointed to several scheduled conferences that can bring in high-profile customers, who spend more per day than leisure visitors. The stock gained more than 3% in premarket trading after Jonas's note. News of cities including Shanghai and Hangzhou easing Covid-19 testing requirements propped up casino stocks overall . MGM owns 56% of MGM China (2282.HK). Jonas pointed to about 10 events that could bolster income—including the construction trade show CONEXPO-CON/AGG planned for mid-March, which is expected to bring in 129,000 guests. Its held every three years and should generate solid revenue per available room at MGM's mid-lower-tier properties next year, he said. CES the highly notable annual tech conference was greatly
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MGM
News
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- MGM Resorts rallies after Mizuho says shares are undervalued [Seeking Alpha]Seeking Alpha
- MGM Resorts International (NYSE: MGM) is now covered by analysts at Mizuho. They set a "buy" rating and a $61.00 price target on the stock.MarketBeat
- MGM Resorts prices $750M in senior notes [Seeking Alpha]Seeking Alpha
- MGM Resorts International Prices $750,000,000 in Senior NotesPR Newswire
MGM
Earnings
- 2/13/24 - Beat
MGM
Sec Filings
- 3/27/24 - Form 424B2
- 3/25/24 - Form FWP
- 3/25/24 - Form 424B5
- MGM's page on the SEC website