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MGM Resorts International (MGM)

MGM on New York Consolidated

29.59USD
6 Dec 2016
Change (% chg)

$0.62 (+2.16%)
Prev Close
$28.97
Open
$29.24
Day's High
$29.75
Day's Low
$29.13
Volume
5,774,534
Avg. Vol
5,782,822
52-wk High
$29.75
52-wk Low
$16.18

Latest Key Developments (Source: Significant Developments)

MGM Resorts says through GPM's unit, Pansy Ho acquired 4 mln shares of co's Tracinda Corp
Thursday, 1 Sep 2016 09:27am EDT 

MGM Resorts International : Company has been informed that through GPM's unit, Pansy Ho acquired 4 million shares of co's stock from Tracinda Corp .Pansy Ho owns approximately 4.8 pct of outstanding common stock of company.  Full Article

MGM Resorts prices $500,000,000 in senior notes
Tuesday, 16 Aug 2016 05:21pm EDT 

MGM Resorts International : MGM Resorts International prices $500,000,000 in senior notes .Priced a public offering of $500 million in aggregate principal amount of 4.625% senior notes due 2026 at par.  Full Article

MGM Resorts International announces proposed senior notes offering
Tuesday, 16 Aug 2016 09:00am EDT 

MGM Resorts International : MGM Resorts International announces proposed senior notes offering . Proposes to offer $500 million in aggregate principal amount of senior notes due 2026. .Intends to use net proceeds from offering of notes, together with cash on hand, to redeem its 7.625% senior notes due 2017.  Full Article

MGM Resorts International to up stake in MGM China Holdings
Tuesday, 16 Aug 2016 07:35am EDT 

MGM Resorts International: MGM Resorts International to increase its stake in MGM China Holdings Limited . To acquire additional 4.95% of outstanding ordinary shares of MGM China, will own about 56% of MGM China's outstanding common shares . Will issue to grand paradise Macau 7,060,492 shares of its common stock and pay cash consideration of $100 million . Upon completion of transactions, ho would own approximately 4.8% of outstanding common stock of MGM resorts . MGM resorts international says to acquire 188.1 million ordinary shares of its subsidiary MGM China Holdings Limited from grand paradise Macau . Will acquire an additional 4.95% of outstanding common shares of MGM China and will own about 56% of MGM China's outstanding common shares . Pansy ho has entered into agreement to acquire 4 million shares of MGM Resorts stock at $25/share from Tracinda Corporation .In addition, company has agreed to pay GPM (or its nominee) a deferred cash payment of $50 million.  Full Article

MGM Resorts reports Q2 earnings per share $0.83 including items
Thursday, 4 Aug 2016 08:15am EDT 

MGM Resorts International : MGM Resorts International reports strong second quarter financial and operating results . Q2 earnings per share view $0.23 -- Thomson Reuters I/B/E/S . Q2 earnings per share $0.83 including items . Casino revenue for three months ended June 30, 2016 increased less than 1% compared to same period in prior year . Qtrly revenue $2.27 billion versus $2.39 billion . Increased profit growth plan target by 33% to $400 million . MGM Resorts International qtrly rooms revenue at company's domestic resorts increased 2% . Qtrly MGM China net revenues of $452 million, a 19% decrease compared to prior year quarter .Q2 earnings per share view $0.23, revenue view $2.33 billion -- Thomson Reuters I/B/E/S.  Full Article

Boyd Gaming to sell its 50% interest in Borgata
Tuesday, 31 May 2016 04:13pm EDT 

Boyd Gaming Corp - : Boyd Gaming Corp says Borgata estimates that it is entitled to property tax refunds totaling $180 and estimates for open tax appeals .Boyd gaming to sell its 50% interest in Borgata.  Full Article

MGM Resorts, MGM Growth Properties to buy Borgata Hotel Casino & Spa
Tuesday, 31 May 2016 04:10pm EDT 

MGM Resorts International : MGM Resorts International and MGM Growth Properties LLC announce transactions to acquire Borgata Hotel Casino & Spa . MGM Resorts will pay approximately $600 million for Boyd Gaming's 50 percent interest . Borgata to be added to existing master lease between MGM Resorts and MGP, initial rent payment to MGP to increase by $100 million . Following completion of acquisition of Boyd Gaming's interest, MGP will acquire Borgata's real property from MGM Resorts . Says expect transaction to result in high single digit percentage accretion to AFFO per share . Deal for $900 million . Expects to fund acquisition of Borgata Real and assumption of related debt with a combination of existing cash on hand . MGM Resorts international says to acquire Boyd Gaming Corporation's 50 percent interest in Borgata Hotel Casino & Spa .MGP to lease back real property to a unit of Mgm Resorts, after which a subsidiary of MGM Resorts will operate Borgata.  Full Article

MGM Resorts International pricing of initial public offering
Tuesday, 19 Apr 2016 05:28pm EDT 

MGM Resorts International:Mgm resorts international announces pricing of initial public offering by mgm growth properties llc.Says public offering price of $21.00 per share for gross proceeds of $1.05 billion.  Full Article

MGM Resorts International Announces pricing of $1.05 billion senior notes offering by MGP Escrow Issuer LLC
Wednesday, 6 Apr 2016 04:10pm EDT 

MGM Resorts International:Says indirect wholly-owned subsidiaries, MGP Escrow Issuer LLC and MGP Escrow Co-Issuer Inc have priced $1.05 billion in aggregate principal amount of 5.625% senior notes due 2024 in a private placement at par.  Full Article

MGM Resorts International's Subsidiary MGM National Harbor, LLC Secures Financing For MGM National Harbor
Monday, 1 Feb 2016 08:30am EST 

MGM Resorts International:Subsidiary MGM national harbor, llc secures financing for MGM national harbor.Unit has entered into $525 million bank facility to fund development, construction of MGM national harbor.MGM national harbor project is expected to open in the fourth quarter of 2016.Says $525 million facility is comprised of a $425 million term loan a and $100 million revolving facility.Revolving,term loan facilities will initially bear interest at libor rate plus additional rate ranging from 2.00%-2.25% per annum.  Full Article

MGM's shares could rise on Las Vegas revival -Barron's

NEW YORK, Nov 27 Shares of MGM Resorts International could surge over the next year as the casino resorts operator is set to capitalize on a resurgence in convention and tourism business in Las Vegas, according to a report in Barron's.