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June 13, 2014
11:47 EDTMGMMGM Sprinfield awarded casino license in Massachusetts
MGM Resorts received a unanimous vote from the Massachusetts Gaming Commission approving an agreement to award MGM Springfield a license to operate a resort casino in Downtown Springfield. This is the first approval of a casino license in the Commonwealth. The Commission's decision comes after an extensive two-year process of hearings and background investigations culminating in a final week of hearings and deliberations.
News For MGM From The Last 14 Days
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November 24, 2015
09:01 EDTMGMEldorado Resources completes purchase of MGM's 50% interest in Silver Legacy
Eldorado Resorts (ERI) said it has completed the previously announced purchase of MGM Resorts International's (MGM) 50 percent interest in the Silver Legacy Resort Casino Reno, as well as the assets of Circus Circus Reno, for total consideration of $72.5 million cash plus a working capital adjustment. In addition, ERI repaid the entire outstanding balance of the Silver Legacy credit facility, which amounted to approximately $52.6 million on a net debt basis. The transaction was financed with cash on hand, cash from the escrow account established at the time of the Company's July financings and borrowings under the Company's revolving credit facility. As a result, Eldorado has withdrawn its registration statement relating to a proposed common stock offering, the proceeds of which were intended to pay a portion of the purchase price for the Circus Circus Reno and 50% interest in the Silver Legacy joint venture. The transaction increases Eldorado's property portfolio to seven wholly-owned and operated facilities in five markets with a total of approximately 10,230 slot machines and VLTs, approximately 300 table games, approximately 4,850 hotel rooms, approximately 35 dining, bar and entertainment options, three pari-mutuel racing facilities and approximately 8,000 team members.
07:58 EDTMGMMGM Resorts Q4 Las Vegas trends look positive, says Wells Fargo
Wells Fargo says that MGM's Las Vegas business looks set to grow 10% in Q4, in-line with the company's 8% RevPAR growth guidance.
November 18, 2015
13:05 EDTMGMLas Vegas Sands, MGM slip after Wynn reports opening delay for Macau casino
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November 17, 2015
10:41 EDTMGMMacau sees gaming revenue slump continuing, Bloomberg says
Macau's chief executive Fernando Chui is targeting casino revenue of $25B in 2016 about half of what it took in last year, says Bloomberg. Macau's gaming revenue fell for 17th straight month in October as China's economy slows and efforts to curb corruption continue, Bloomberg added. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Crown (MPEL). Reference Link
November 16, 2015
07:18 EDTMGMDeutsche Bank to hold a conference
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