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News Breaks
December 9, 2013
08:21 EDTPENN, MGMConsultants prefer MGM casino over Penn National bid, Washington Post says
Two state-contracted gambling-revenue consultants told Marylandís casino commission that a casino proposed by MGM Resorts (MGM) would generate "vastly more" than the other proposals made by Penn National (PENN) and Greenwood Racing, according to The Washington Post. Reference Link
News For MGM;PENN From The Last 14 Days
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April 24, 2014
13:38 EDTPENNPenn National guidance may prove conservative, says Brean Capital
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10:50 EDTPENNPenn National says April visitation trends 'very concerning'
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09:04 EDTMGMMandalay Bay to expand convention center to over 2M square feet
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07:11 EDTPENNPenn National sees Q2 EPS 6c, consensus 15c
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07:10 EDTPENNPenn National lowers FY14 EPS view to 12c from 24c, consensus 26c
Lowers FY14 revenue view to $2.51B from $2.63B, consensus $2.64B. Sees Horseshoe Baltimore opens in early September 2014, impacting Hollywood Casino at Charles Town Races; Belterra Park in Cincinnati opens in early May 2014, impacting Hollywood Casino Lawrenceburg; Hollywood Gaming at Dayton Raceway opens in the fall of 2014, impacting Hollywood Casino Columbus; Hollywood Gaming at Mahoning Valley Race Track opens in the fall of 2014; and Operations from the Companyís Argosy Casino Sioux City facility cease as of July 1.
07:07 EDTPENNPenn National reports Q1 EPS 5c, consensus 5c
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April 16, 2014
11:02 EDTPENNPenn National in partnership with Cordish to pursue NY opportunity
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April 15, 2014
08:01 EDTMGMMGM Resorts and Hakkasan Group form joint venture hotel management company
MGM Resorts International and Hakkasan Group announced the formation of a joint venture hotel management company, to be named MGM Hakkasan Hospitality. The strategic alliance will focus on the design, development and management of luxury non-gaming hotels, resorts and residential offerings under the Bellagio, Hakkasan, MGM Grand and SKYLOFTS brands in key international gateway cities and prime resort destinations across the globe. All of the hotel and resort projects currently under development by each group will be contributed to the joint venture, including MGM projects in the Americas, the Middle East, and Asia; and Hakkasan projects in Abu Dhabi and Dubai.
April 14, 2014
14:06 EDTPENN, MGMNew Jersey reports March Atlantic City gaming win down 2.2% to $233.4M
New Jersey reported total gaming win from the casino hotels and Internet gaming operations was $233.4M in March, a 2.2% decline compared to the casino win for the same month of last year, including Atlantic Club. Casino win from the eleven casino hotels open in both March 2013 and 2014 decreased by 1.9%. Internet gaming win increased 15.2% for the month, from $10.3M in February to $11.9M for March. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
April 11, 2014
10:07 EDTMGMMGM Resorts volatility increases into Q1 and Macau outlook
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April 10, 2014
10:24 EDTMGMMGM holds up amid broader downtrend after analyst recommends stock
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08:14 EDTMGMMGM Resorts weakness creates long-term buying opportunity, says Stifel
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