Share prices of casino stocks have plummeted since the start of 2020 due to the COVID-19 pandemic. Though stocks in many other impacted sectors have recovered from March lows, share prices in the gambling industry remain down by as much as 50% year to date. This puts them in value […]
MGM
With the Las Vegas Strip continuing to rebound and MGM (NYSE:MGM) receiving a roughly $1 billion investment from IAC (NASDAQ:IAC), the outlook of MGM stock has improved. A photo of the MGM logo on the MGM casino building. Source: Michael Neil Thomas / Shutterstock.com Additionally, following the widespread introduction of […]
With the Las Vegas Strip continuing to rebound and MGM (NYSE:MGM) receiving a roughly $1 billion investment from IAC (NASDAQ:IAC), the outlook of MGM stock has improved. Source: Michael Neil Thomas / Shutterstock.com Additionally, following the widespread introduction of a successful vaccine for the novel coronavirus, MGM is set benefit […]
Zacks Industry Rank Indicates Bright Prospects The Zacks Gaming industry is grouped within the broader Zacks Consumer Discretionary sector. It carries a Zacks Industry Rank #119, which places it in the top 47% of more than 250 Zacks industries. The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank […]
(Bloomberg) — IAC/InterActive Corp.’s $1 billion investment in casino operator MGM Resorts International demonstrates media mogul Barry Diller is still a top dealmaker. IAC, a media and internet company with more than 150 brands and products, announced Monday that it built a 12% stake in MGM, just weeks after it […]
LAS VEGAS – MGM Resorts is now luring business professionals to resorts with ‘Work from Vegas’ travel packages that include discounted jet service, rooms as cheap as $100-per-night and a living, breathing executive assistant. The new program is called Viva Las Office, and it’s the latest example of a Las Vegas company pumping up perks to boost bookings in […]
Employees inside the casino prepare for the opening of MGM Cotai in Macau, China February 13, 2018. HONG KONG (Reuters Breakingviews) – There’s a new gamble worth taking for MGM Resorts International. One of its Asian investors, Snow Lake, wants the U.S. casino operator to sell a fifth of its […]
MGM Resorts International (NYSE:MGM) is still hurting from the coronavirus pandemic, even though it’s been open for several months here in the U.S. and operating in Macao since February. Tight restrictions on travel, casino capacity, and disinterest from the public during a global health crisis have hurt the casino operator’s […]
The global pandemic hit the gambling industry especially hard. Casinos were forced to shutter, sporting events to bet on were temporarily halted, and the industry suffered immensely as a result. Companies like Penn National Gaming (NASDAQ:PENN) and MGM Resorts International (NYSE:MGM) were not spared from this trend. Still, Penn National […]
To state the obvious, the pandemic had a huge effect on MGM Resorts International‘s (NYSE:MGM) operations and results. While it had to close its doors for a time, once they’ve reopened, casinos haven’t seen patrons return to the extent that MGM and other industry participants would like. With COVID-19 cases […]