MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. As of February 17, 2021, its portfolio consisted of 29 hotel and destination gaming offerings. The company also owns and operates Las Vegas Strip Resorts and Fallen Oak golf course. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.
IPO Year:
Exchange: NYSE
Website: mgmresorts.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
7/3/2024 | $52.00 | Buy | BTIG Research |
5/2/2024 | $54.00 | Neutral → Positive | Susquehanna |
4/15/2024 | $56.00 | Buy | Seaport Research Partners |
3/26/2024 | $61.00 | Buy | Mizuho |
10/23/2023 | $49.00 | Buy | HSBC Securities |
10/12/2023 | $50.00 | Overweight | CapitalOne |
7/14/2023 | $47.00 → $48.00 | Equal-Weight | Morgan Stanley |
4/21/2023 | $59.00 → $60.00 | Overweight | Barclays |
2/24/2023 | $59.00 | Overweight | Barclays |
1/6/2023 | $42.00 → $46.00 | Hold → Buy | Stifel |
Newly remodeled rooms available for reservation beginning March 1, 2025 LAS VEGAS, Jan. 17, 2025 /PRNewswire/ -- MGM Grand Hotel & Casino is revealing details surrounding its $300 million remodel encompassing all of the hotel's 4,212 rooms and suites within its main tower. The transformation, which is slated for completion in December 2025, is set to enhance the overall guest experience with modern, sophisticated design elements inspired by the flair of the disco era. The remodeled rooms will join a vibrant lineup of new dining and entertainment experiences set to open at MGM Grand later this year.
LAS VEGAS, Jan. 7, 2025 /PRNewswire/ -- BetMGM LLC ("BetMGM"), one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International (NYSE:MGM) ("MGM Resorts") and Entain plc (LSE: ENT) ("Entain") will release an update on BetMGM's FY 2024 performance at 7:00 a.m. Eastern Time (12:00 p.m. UK) Tuesday 4th February 2025. BetMGM management will host an audio webcast at 9:00 a.m. Eastern Time (2:00 p.m. UK). Upcoming Dates: February 12: MGM Resorts International Q4 and FY 2024 Results March 6: Entain plc FY 2024 Results Contacts: BetMGM Witek Wacinski – SVP Strategy & Development [email protected] Entain plc Investor Relations invest
LAS VEGAS, Jan. 7, 2025 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will release its financial results for the fourth quarter and full year 2024 after the market closes on Wednesday, February 12, 2025. MGM Resorts will host a conference call that day at 5:00 p.m. Eastern Time, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com. The call wil
Hotel officially joins the MGM Collection with Marriott Bonvoy portfolio, marking the latest step in the long-term strategic licensing agreement between MGM Resorts International and Marriott International LAS VEGAS, Dec. 18, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) and Marriott International, Inc. (NASDAQ:MAR) officially mark the debut of W Las Vegas, transitioning the iconic 1,117-suite tower on the Mandalay Bay campus into the globally recognized W Hotels brand. Starting today, Marriott Bonvoy members can book stays and earn and redeem points at this vibrant destination, now part of the MGM Collection with Marriott Bonvoy.
LAS VEGAS, Dec. 5, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") today announced the promotion of Ari Kastrati to Chief Content, Hospitality and Development Officer, effective immediately. In his new role, Kastrati will oversee the Company's global design and development efforts and sports and entertainment partnerships. He also will continue to drive the Company's hospitality strategy, including the development of food and beverage and nightlife concepts, and lead the Company's lifestyle, retail, leasing, and arts divisions. He will report to MGM Resorts CEO & President Bill Hornbuckle and serve on the Company's Executive Committee. "Ari has lo
LAS VEGAS, Dec. 2, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will participate in the 2024 Bank of America Leveraged Finance Conference on Tuesday, December 3, 2024. Senior leadership from MGM Resorts International and MGM China will speak at a session scheduled to begin at 9:30 a.m. ET. A live webcast of the session will be available under the Events & Presentation section of the MGM Investor Relations website at http://investors.mgmresorts.com About MGM Resorts InternationalMGM Resorts International (NYSE:MGM) is an S&P 500® gl
Sold-Out Bellagio Fountain Club Headlines Race Weekend Experiences with Celebrity Chefs, Top Drivers, Stars and More Click here to download high-res images (credit: MGM Resorts) Click here to download b-roll from Bellagio Fountain Club, Fountain Walk, Boulevard Experience and Shoey Bar (footage courtesy of MGM Resorts) LAS VEGAS, Nov. 25, 2024 /PRNewswire/ -- As the checkered flag waves on the second year of the Las Vegas Grand Prix, MGM Resorts International has once again delivered as the ultimate race-weekend destination. Fans, celebrities and even top drivers - including Max Verstappen, George Russell, Lewis Hamilton and Carlos Sainz – took part in the unforgettable experiences the co
Streamlined nationwide access to digital bonuses, MGM Rewards Points, Marriott Bonvoy Points, and more JERSEY CITY, N.J., Nov. 25, 2024 /PRNewswire/ -- BetMGM, a leading iGaming and sports betting operator, today announced a major enhancement to its customer experience by consolidating BetMGM Reward Points (BRPs) into a single account. In addition to users' cash balance, this feature enables BetMGM Rewards Points to travel with them across jurisdictions. Click here to download creative assets Streamlining BetMGM Rewards Points into a single account is the next phase of BetMGM'
Sports betting leader and Authorized Gaming Operator of the NBA will send one winner to Las Vegas for semifinal and championship games JERSEY CITY, N.J., Nov. 21, 2024 /PRNewswire/ -- BetMGM, a leading iGaming and sports betting operator and Authorized Gaming Operator of the NBA, is launching its first Original Bets Sweepstakes for the 2024 Emirates NBA Cup. From November 21-29, BetMGM customers who wager $10 or more on BetMGM's proprietary NBA Cup Original Bets will have the chance to win the ultimate Las Vegas sports vacation. BetMGM will send one winner to Las Vegas for a five-night stay at MGM Grand, provide tickets to the semifinal and championship games and offer an on-court photo oppo
Bringing the Next Generation of Guest Experience to Las Vegas and Beyond News Summary: Global gaming and entertainment company MGM Resorts International signs a Whole Portfolio Agreement with Cisco to deliver next-generation guest experiences.Agreement gives MGM Resorts access to much of Cisco's software portfolio and Customer Experience (CX) services.Multi-year agreement brings simplicity and predictability as the company paves the way for future location services and next-generation machine learning applicationsSAN JOSE, Calif. and LAS VEGAS, Nov. 18, 2024 /PRNewswire/ -- Cisco (NASDAQ:CSCO) and MGM Resorts International today announce that the companies have signed a Whole Portfolio Agr
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BTIG Research initiated coverage of MGM Resorts with a rating of Buy and set a new price target of $52.00
Susquehanna upgraded MGM Resorts from Neutral to Positive and set a new price target of $54.00
Seaport Research Partners initiated coverage of MGM Resorts with a rating of Buy and set a new price target of $56.00
Mizuho initiated coverage of MGM Resorts with a rating of Buy and set a new price target of $61.00
HSBC Securities initiated coverage of MGM Resorts with a rating of Buy and set a new price target of $49.00
CapitalOne initiated coverage of MGM Resorts with a rating of Overweight and set a new price target of $50.00
Morgan Stanley reiterated coverage of MGM Resorts with a rating of Equal-Weight and set a new price target of $48.00 from $47.00 previously
Barclays reiterated coverage of MGM Resorts with a rating of Overweight and set a new price target of $60.00 from $59.00 previously
Barclays initiated coverage of MGM Resorts with a rating of Overweight and set a new price target of $59.00
Stifel upgraded MGM Resorts from Hold to Buy and set a new price target of $46.00 from $42.00 previously
LAS VEGAS, Jan. 7, 2025 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will release its financial results for the fourth quarter and full year 2024 after the market closes on Wednesday, February 12, 2025. MGM Resorts will host a conference call that day at 5:00 p.m. Eastern Time, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com. The call wil
Visitation Revenue Adjusted EBITDA Posted Year-on-Year Growth All Surpassed 2019 Levels HONG KONG, Oct. 30, 2024 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company"; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the "Group") for the three and nine months ended September 30, 2024 (the "Period"). The Group is pleased to see the momentum in Macau continued this year following a solid recovery in 2023. For the nine months ended September 30, Macau saw average daily visitor arrival reach 94,602, up by 30% from last year, recovered to 86% of pre-COVID 2019 levels. Visitation recovery has supported growth of g
Record 3Q consolidated net revenuesRecord results at MGM China with record 3Q net revenue and record 3Q Adjusted Property EBITDARMGM China declared a special dividend in August 2024, resulting in approximately $200 million in cash to MGM Resorts in total this yearRepurchased over $300 million of shares in 3Q and approximately $1.3 billion year-to-date, reducing overall shares outstanding by 40% since 2021Accelerating growth at BetMGM with record 3Q net revenues increasing nearly 20% year-over-year, more than doubling the revenue growth achieved in 2QAdvanced international digital strategy by announcing a venture with Grupo Globo to pursue a sports betting and iGaming license in Brazil, aimin
LAS VEGAS, Oct. 2, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will release its financial results for the second quarter 2024 after the market closes on Wednesday, October 30, 2024. MGM Resorts will host a conference call that day at 5:00 p.m. Eastern Time, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com. The call will be accessible
LAS VEGAS, Sept. 3, 2024 /PRNewswire/ -- MGM Resorts International (the "Company") (NYSE:MGM) today announced that it proposes to offer $675,000,000 in aggregate principal amount of senior notes due 2029. The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 5.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments. The notes being offered will be general unsecured senior obligations of the Compa
Record 2Q consolidated net revenues of $4.3 billionRecord 2Q MGM China Adjusted Property EBITDAR of $294 million; increase of 40% year-over-year as market share remained in the mid-teens2Q net income attributable to MGM Resorts of $187 million and 2Q consolidated Adjusted EBITDAR of $1.2 billionInternational digital strategy progressed with announced acquisition of Tipico's U.S. platform bringing sports betting product in house and strategic relationship with Playtech to become only U.S. operator to offer live casino content from the Las Vegas StripLAS VEGAS, July 31, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") today reported financial results f
LAS VEGAS, June 26, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will release its financial results for the second quarter 2024 after the market closes on Wednesday, July 31, 2024. MGM Resorts will host a conference call that day at 5:00 p.m. Eastern Time, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com. The call will be accessible v
Record-High Performance and Market Share HONG KONG, May 1, 2024 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company"; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the "Group") for the three months ended March 31, 2024 (the "Period"). The Group is pleased to see a continuous recovery in Macau. Average daily visitor arrival for the Period reached 97,536 up 8%from the previous quarter, recovered to 85% of same period in 2019. Gross gaming revenue (GGR) in Macau also continued to see sequential growth over the quarters. Headline GGR rose 7% quarter-to-quarter to MOP630 million per day in first quarter 2024,
MGM China achieved record quarterly results with Adjusted Property EBITDAR up 78% year over year and resumed its dividendLas Vegas strength continued in the first quarter with record 1Q net revenuesMarriott strategic licensing agreement successfully launched across 16 brandsMGM Resorts repurchased 12 million shares during the quarter resulting in total share count reduction of 36% since 2021Our Japan IR venture completed its credit facility, Japan's largest project financing in historyLAS VEGAS, May 1, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended March 31, 2024. "Our strategic growth plan to
LAS VEGAS, March 28, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will release its financial results for the first quarter 2024 after the market closes on Wednesday, May 1, 2024. MGM Resorts will host a conference call that day at 5:00 p.m. Eastern Time, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com. The call will be accessible via
More than 100 wounded warriors and their guests to visit Las Vegas over Veterans Day weekend LAS VEGAS, Nov. 4, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") will host the United Service Organizations (USO) Experience: Salute to the Troops, honoring more than 100 active-duty service members who have been injured in the line of duty beginning Friday, November 8. Now in its 14th year, the five-day celebration will take place at Mandalay Bay Resort & Casino. In partnership with USO, American Airlines will fly these honored guests and t
Hospitality industry leader will more than double solar electricity access LAS VEGAS, Sept. 12, 2024 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") is making a bold leap toward its ambitious sustainability goals, signing a power purchase agreement with Escape Solar LLC that will more than double its access to clean solar electricity—an extraordinary stride toward a greener future. The agreement will help propel the Company closer to its goal of procuring 100% renewable electricity in North America by 2030. Already a global leader in sustainability with the world's largest direct connect solar array in the hospitality industry, MGM Resorts currently use
Episodes to feature iconic game show's first-ever nightly progressive jackpot tied to Bonus Round prizing Click here to download creative assets JERSEY CITY, N.J., May 17, 2024 /PRNewswire/ -- BetMGM, a leading sports betting and iGaming operator, will celebrate Wheel of Fortune's 8,000th episode during the legendary game show's "Big Money Week" scheduled to air May 20-24. For the first time in the history of the wildly successful syndicated game show, there will be a Nightly Progressive Jackpot sponsored by BetMGM that will be added to whatever a contestant wins if they solve the show's Bonus Puzzle.
Equity Residential (NYSE:EQR) today announced the appointment of Ann C. Hoff and Nina P. Jones to the Company's Board of Trustees to serve until the next annual meeting of shareholders. Both Ms. Hoff and Ms. Jones qualify as independent trustees under the New York Stock Exchange's listing standards. Ms. Hoff will serve on the Audit Committee and Ms. Jones will serve on both the Audit and Corporate Governance Committees. With these appointments, the Company's Board will increase to 11 members. Ms. Hoff, 57, is the President and Chief Operating Officer of Bellagio and Park MGM at MGM Resorts International (NYSE:MGM), a global gaming and entertainment company. In this role, which she has hel
LAS VEGAS, July 27, 2023 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) announced today the appointment of Daniel Yang as Chief Customer & Innovation Officer. In this newly constituted role, Yang will lead and advance the company's global consumer success strategy, with a focus on maximizing growth and profitability at the intersection of digital technology and the guest experience. "Dan is a progressive, strategic thinker with a wealth of industry experience leveraging technology and digital strategies to enhance the guest experience in a truly meaningful and differentiating way," said Bill Hornbuckle, CEO & President of MGM Resorts International. "Dan's leadership will be instrumenta
Fritz will oversee company's growth in global digital gaming LAS VEGAS, Oct. 10, 2022 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) announced today the appointment of Gary Fritz to President of MGM Resorts Interactive. Fritz will oversee and advance MGM Resorts' diversification strategy by expanding the Company's digital platforms organically and through acquisitions. This includes driving growth and innovation through the company's industry-leading sports betting and iGaming platform, BetMGM. "Enhancing and growing our digital businesses is one of MGM Resorts' top priorities, and Gary is uniquely positioned to help the Company build on successes and seize new opportunities," said Bil
Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) ("Pacific Premier"), the holding company of Pacific Premier Bank (the "Bank," and together with Pacific Premier, the "Company"), announced today the appointment of Rose McKinney-James as a director of both Pacific Premier and the Bank, effective as of March 28, 2022. In addition, Pacific Premier announced today the issuance of the Company's inaugural Corporate Social Responsibility Report. Director Appointment "We are excited to add Rose to our Board of Directors," said Steve Gardner, Chairman, Chief Executive Officer, and President of Pacific Premier. "She brings more than two decades of experience as a public company director and has significa
LAS VEGAS, April 28, 2021 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended March 31, 2021. "We are pleased with the meaningful progress we've made on multiple fronts this quarter," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. "Consumer demand strengthened at our domestic properties, and the significant changes we've made to our operating model have positioned us to capitalize on the recovery. Our regional properties achieved record first quar
LAS VEGAS, Jan. 6, 2021 /PRNewswire/ -- The MGM Resorts International ("MGM Resorts") (NYSE: MGM) Board of Directors acknowledges Snow Lake Capital's letter related to MGM China Holdings Limited ("MGM China"), a separate, publicly traded company. MGM Resorts remains committed to Macau and will continue to take actions that are in the best interests of its shareholders and stakeholders. We appreciate continued constructive engagement with MGM China shareholders. ABOUT MGM RESORTS INTERNATIONAL MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and
LAS VEGAS, Jan. 6, 2021 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or "the Company") today announced Jonathan Halkyard will become Chief Financial Officer for the global gaming, hospitality and entertainment organization. Halkyard is a senior corporate executive who spent 13 years in leadership roles at Caesars Entertainment and was more recently the President and Chief Executive Officer of Extended Stay America, Inc. and ESH Hospitality, its paired-share REIT. He will report to Bill Hornbuckle, President and CEO, and succeeds Corey Sanders, who was recently appointed Chief Operating Officer of the Company. Jonathan Halkyard "Jonath