MGM Resorts International is slated to release its earnings results shortly, with market sentiment favoring the company due to its sustained strong performance. The lobby consensus deems MGM as likely to outperform the earning estimates. Among recent activity, notable collaborations include partnerships with LIV Golf and Marriott International, along with a multi-year contract with Cisco. These strategic alliances demonstrate MGM’s determination to ramp up its entertainment provisions and broaden its operational reach.
Notwithstanding these developments, some analysts have withdrawn their bullish stance on MGM due to a identified slowdown in Las Vegas and increasing Capex. MGM also faced a recent setback in a fine close to $8.5M related to a money laundering case. Nonetheless, BetMGM’s well-received outlook and MGM’s strong Q1 digital growth might potential counterbalance these challenges.
MGM registered robust revenue from its China Casino, contributing to a bullish market response. Moreover, it has recorded increased stock sale by Edgestream Partners L.P and reported record revenues in its Q4 2024 call that signalled strong growth. Nonetheless, the implications of a Las Vegas revenue dip and the elimination of concierge desks at six hotels remain to be evaluated.
Mgm Resorts International MGM News Analytics from Mon, 21 Oct 2024 07:00:00 GMT to Sat, 26 Jul 2025 08:05:35 GMT -
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