MGM Resorts International continues to gain positive attention from investors, including billionaire Mason Hawkins who believes the company is a top long-term investment. A large part of this optimism stems from its impressive renovation plans, such as the $300 million makeover to revamp rooms and suites at the MGM Grand. The company furthered its presence in Las Vegas by signing an agreement with Marriott International to launch W Las Vegas. Increasing its green initiatives, MGM Resorts also signed a significant agreement with Cisco to enhance the guest experience and partnered with Playtech for live casino content. However, there were challenges, particularly during Q3, with earnings missing estimates. Despite this, MGM Resorts showed resilience through record Q3 revenue and demonstrated strategic existence in key regions like Macao. Analysts furthermore highlight the company's effective use of debt. MGM is developing its sports betting and iGaming aspect, partnering with Grupo Globo in Brazil for instance. On an administrative level, numerous changes were made including the appointment of a chief content, hospitality, and development officer. Overall, the company seems ready for growth despite certain challenges.
Mgm Resorts International MGM News Analytics from Thu, 21 Mar 2024 07:00:00 GMT to Sat, 18 Jan 2025 09:05:23 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor 1
