MGM Resorts International has a multitude of updates surrounding its performance and future prospects. Its third quarter financial results for 2024 were mixed despite record revenues, but it did see a second quarter record net revenue of $4.3 billion. Hitting the stock market, MGM's stock has reportedly been outperforming competitors; however, they missed the mark on quarterly estimates due to sluggish Las Vegas business. Analysts are increasingly bullish due to the potential in sports betting, among other factors. Major investments in Las Vegas are planned, alongside a $300 million renovation to the MGM Grand and new fees at its properties. There has also been a change in leadership; the Resorts named a new chief content officer and expanded their global luxury development strategy. On the digital front, they settled a consolidated data breach lawsuit for $45 million and launched an online betting platform in Brazil. Partnership announcements have also been made with Cisco and Playtech. MGM's financial prospects are worth watching despite a 22% loss for investors over the past three years.
Mgm Resorts International MGM News Analytics from Wed, 01 May 2024 07:00:00 GMT to Sat, 08 Feb 2025 05:36:37 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor 4
