|February 26, 2014|
|09:31 EDT||MGM||MGM Resorts management to meet with Deutsche Bank|
Meeting to be held in Boston on February 26 hosted by Deutsche Bank.
News For MGM From The Last 14 Days
|October 1, 2014|
|09:13 EDT||MGM||MGM Resorts and AEG announce $200M funding for new seat arena|
MGM Resorts International and AEG announced that they have finalized a $200M bank facility to fund the development and construction of a new 20,000 seat arena. Located on the west side of the Las Vegas Strip, between New York – New York and Monte Carlo resorts, the new $375M privately funded world-class arena is currently under construction. The Las Vegas Arena is scheduled to debut in the spring of 2016.
|September 30, 2014|
|17:24 EDT||MGM||MGM Resorts CEO says taking 'long view' on China issues|
Says does not know the immediate impact of Hong Kong protests on Macau operations. Jim Murren is speaking on CNBC.
|September 29, 2014|
|07:23 EDT||MGM||UBS & Deutsche Bank to co-host a forum|
Gaming Investment Forum to be held in Las Vegas on September 29-30 with webcasted company presentations to begin on September 29 at 12 pm; not all company presentations may be webcasted. Webcast Link
|September 26, 2014|
|09:33 EDT||MGM||Nevada reports August statewide gaming win down 3.66% to $920.29M |
Nevada reports August Las Vegas Strip gaming win down 6.08% to $553.19M. 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).
|September 22, 2014|
|07:37 EDT||MGM||Large-Cap Gaming sector downgraded at Wells Fargo|
Wells Fargo downgraded the Large-Cap Gaming sector to Market Weight from Overweight while cutting its ratings on Las Vegas Sands (LVS), Wynn Resorts (WYNN) and Melco Crown (MPEL) to Market Perform from Outperform. Wells believes near-term uncertainty in Macau has increased, making the risk/reward on shares balanced for the next 6-12 months. The firm thinks second half of 2014 and 2015 EBITDA estimates still need to come down another 10%. Wells cuts its price target range for Las Vegas Sands to $60-$70 from $80-$85, for Wynn to $180-$200 from $245-$250 and for Melco to $28-$31 from $38-$40. The firm keeps a Market Perform rating on MGM Resorts (MGM) with a slightly reduced price target range of $23-$26.
|September 19, 2014|
|10:06 EDT||MGM||On The Fly: Analyst Downgrade Summary|
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|07:29 EDT||MGM||MGM Resorts downgraded to Hold from Buy at Argus|
Argus downgraded MGM Resorts based on disappointing Macau gaming revenue.
|September 18, 2014|
|06:47 EDT||MGM||Macau stocks getting closer to bottom, says JPMorgan|
JPMorgan says most Macau stocks have a 2:1 upside/downside ratio, making the risk/rewards favorable. The firm prefers MGM Resorts (MGM) and Wynn Resorts (WYNN) over Melco Crown (MPEL) and Las Vegas Sands (LVS) in the near-term, but keeps Overweight ratings on all four names. JPMorgan lowered its price target for Las Vegas Sands to $69 from $83, for Melco to $31 from $40, for MGM to $30 from $31 and for Wynn to $210 from $239. The firm says the stocks are getting closer to a bottom.