MGM Resorts International (MGM)
Summary
MGM (MGM) Down 5.9% Since Last Earnings Report: Can It Rebound?
MGM (MGM) reported earnings 30 days ago. What's next for the stock?
People Inc: MGM Stake Now Exceeds The Entire Market Cap (Rating Upgrade)
People Inc.'s 66.8 million-share stake in MGM is worth about $2.9 billion at current prices, already exceeding People Inc.'s $2.86 billion market capitalization. People Inc.'s publishing business is improving, with Q2 adjusted EBITDA increasing to $73 million and 2026 EBITDA guidance raised. Including estimated net proceeds from the announced $189 million LP-interest sale, we estimate holdco cash at approximately $939 million.
MGM Resorts International Is Worth Betting On
MGM Resorts International remains a Buy due to attractive valuation and strong balance sheet despite recent underperformance versus the S&P 500. MGM's growth is driven by MGM China and MGM Digital, while Las Vegas and regional operations face near-term headwinds from weak visitation and consumer sentiment. Management is investing in long-term growth, including the MGM Osaka resort in Japan and expanding digital and sports-betting platforms.
MGM Resorts International Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 11,581 | $459,239.68 | $516,165.17 | $56,925.49 | 12.4% |
| DI David Izzi Brown, LISLE/CUMMINGS Inc. | 6,950 | $284,375.55 | $309,761.5 | $25,385.95 | 8.93% |
 Curtis Ellergodt Rothschild Investment LLC | 9,262 | $373,257.56 | $412,251.62 | $38,994.06 | 10.45% |
 Dodge & Cox Dodge & Cox Funds | 6,000 | $207,900 | $263,880 | $55,980 | 26.93% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 97,884 | $4.68M | $4.35M | -$326,917.52 | -6.99% |
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MGM Resorts International Profile
| Hotel & Resort REITs Industry | Real Estate Sector | William Joseph Hornbuckle CEO | NYSE Exchange | 552953101 CUSIP |
| US Country | 69,000 Employees | 15 Dec 2022 Last Dividend | 19 May 2005 Last Split | 12 Jan 1990 IPO Date |
Overview
MGM Resorts International is a global hospitality and entertainment company operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay, and The Mirage, among others. The company is structured into three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China, allowing for a diversified approach to its casino, hotel, and entertainment offerings. MGM Resorts International provides a wide range of amenities, such as gaming, hotel accommodations, conventions, dining, entertainment, retail, and other resort amenities. Operating in both the United States and internationally, the company caters to a variety of customers, including premium gaming clients, leisure and wholesale travel clients, business travelers, and groups, including conventions and small meetings. Originally known as MGM MIRAGE, the company rebranded to MGM Resorts International in June 2010 and has its headquarters in Las Vegas, Nevada. Founded in 1986, MGM Resorts International has evolved to incorporate online sports betting and iGaming into its portfolio through BetMGM, reflecting the changing dynamics of the entertainment and hospitality industries.
Products and Services
- Gaming - MGM Resorts International's casino resorts offer a wide range of gaming options, including slots, table games, and online sports betting and iGaming through BetMGM. This segment caters to both casual and premium gaming customers, offering a comprehensive gaming experience.
- Hotel - The company provides luxurious and comfortable hotel accommodations across its various properties. These accommodations are designed to meet the needs of both leisure and business travelers, offering a range of amenities and services tailored to ensure a memorable stay.
- Convention - MGM Resorts International operates convention centers within its resorts, catering to business travelers, group customers, and event organizers. These convention services are equipped to host a wide range of events, from trade shows and small meetings to large conventions and corporate gatherings.
- Dining - A diverse array of dining options is available across MGM Resorts' properties, ranging from casual eateries to fine dining experiences. These dining services cater to various preferences and dietary requirements, enhancing the overall guest experience.
- Entertainment - The company offers a wide variety of entertainment options, including live shows, concerts, and other events. This segment aims to provide guests with unforgettable experiences during their stay at MGM Resorts' properties.
- Retail - MGM Resorts International offers retail services within its resorts, featuring a selection of shops and boutiques that cater to a wide range of interests and needs. This allows guests to enjoy a shopping experience without leaving the resort.
- Online Sports Betting and iGaming - Through BetMGM, MGM Resorts International provides online sports betting and iGaming, allowing customers to engage in these activities in a digital format. This offering caters to the growing demand for online and mobile gaming and betting options.
