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MGM Resorts International (MGM.N)

MGM.N on New York Stock Exchange

28.49USD
21 Sep 2018
Change (% chg)

$-0.04 (-0.14%)
Prev Close
$28.53
Open
$28.76
Day's High
$28.84
Day's Low
$28.42
Volume
4,887,261
Avg. Vol
2,108,934
52-wk High
$38.41
52-wk Low
$26.32

Latest Key Developments (Source: Significant Developments)

MGM Resorts, MGM Growth Properties Announce Agreement For Hard Rock Rocksino In Ohio
Wednesday, 19 Sep 2018 09:00am EDT 

Sept 19 (Reuters) - MGM Growth Properties LLC ::MGM RESORTS INTERNATIONAL AND MGM GROWTH PROPERTIES LLC ANNOUNCE AGREEMENT FOR HARD ROCK ROCKSINO IN NORTHFIELD, OHIO.MGM GROWTH PROPERTIES LLC - MGM RESORTS WILL PAY TOTAL CONSIDERATION OF APPROXIMATELY $275 MILLION.MGM GROWTH PROPERTIES LLC - TRANSACTION EXPECTED TO BE ACCRETIVE FOR MGM RESORTS AND MGP WITHIN FIRST YEAR OF OPERATIONS.MGM GROWTH PROPERTIES - ROCKSINO TO BE ADDED TO EXISTING MASTER LEASE BETWEEN MGM RESORTS & MGP AND ANNUAL RENT PAYMENT TO MGP WILL INCREASE BY $60 MILLION.  Full Article

MGM Growth Properties To Acquire Empire City Casino In Yonkers
Tuesday, 29 May 2018 08:30am EDT 

May 29 (Reuters) - MGM Growth Properties LLC ::TOTAL CONSIDERATION OF $850 MILLION FOR REAL ESTATE AND OPERATIONS.MGM RESORTS INTERNATIONAL AND MGM GROWTH PROPERTIES LLC ANNOUNCE TRANSACTIONS TO ACQUIRE EMPIRE CITY CASINO IN YONKERS, NEW YORK.MGP TO PAY CONSIDERATION OF $625 MILLION TO MGM RESORTS FOR DEVELOPED REAL ESTATE ASSETS.TRANSACTION EXPECTED TO BE ACCRETIVE FOR BOTH MGM RESORTS AND MGP.SUBSEQUENT TO EMPIRE CITY DEAL, MGM RESORTS, MGP AGREED MGM RESORTS WILL SELL DEVELOPED REAL PROPERTY TO MGP FOR ABOUT $625 MILLION.EXPECTS TO FUND DEAL WITH CASH, BORROWINGS, ISSUANCE OF OPERATING PARTNERSHIP UNITS TO UNIT OF MGM RESORTS.MGM RESORTS BELIEVE DEAL WILL BE VALUE-ACCRETIVE WITHIN FIRST YEAR OF CLOSE.  Full Article

Tracinda Places Order To Sell 10 Million Shares Of MGM Resorts International's Common Stock
Wednesday, 6 Dec 2017 06:20am EST 

Dec 6 (Reuters) - Mgm Resorts International ::TRACINDA CORP - ON DEC 4, TRACINDA PLACED AN ORDER TO SELL 10 MILLION SHARES OF MGM RESORTS INTERNATIONAL'S COMMON STOCK AT $33.89 PER SHARE - SEC FILING.TRACINDA CORP - TRANSACTION IN MGM RESORTS INTERNATIONAL'S SHARES IS EXPECTED TO BE SETTLED ON DEC 7, 2017.TRACINDA CORP - IN CONNECTION WITH THE SALE, TRACINDA HAS AGREED TO A 45-DAY LOCK-UP PERIOD WITH RESPECT TO MGM RESORTS INTERNATIONAL'S COMMON STOCK.TRACINDA CORP SAYS IT CONTINUES TO BELIEVE THERE IS SUBSTANTIAL VALUE IN ASSETS OF MGM RESORTS AND COMPANY IS A GOOD LONG TERM INVESTMENT.  Full Article

MGM Resorts International Q3 earnings per share $0.26
Wednesday, 8 Nov 2017 07:45am EST 

Nov 8 (Reuters) - MGM Resorts International :MGM Resorts International reports third quarter financial and operating results.Q3 earnings per share $0.26.Q3 same store sales rose 2 percent.Q3 earnings per share view $0.34 -- Thomson Reuters I/B/E/S.Casino revenue for Q3 of 2017 increased 32% compared to prior year quarter​.Qtrly ‍REVPAR growth of 4.2% over prior year quarter at company's Las Vegas Strip resorts​.Qtrly MGM China​ ‍net revenues of $471 million, a 6% decrease.Qtrly ‍domestic resorts rooms revenue increased 7% compared to prior year quarter​.Qtrly revenue $2.83 billion versus $2.52 bln‍​ (excluding promotional allowances).Q3 revenue view $2.77 billion -- Thomson Reuters I/B/E/S.  Full Article

MGM Resorts says recommends rejection of mini-tender offer by TRC Capital
Thursday, 12 Oct 2017 04:35pm EDT 

Oct 12 (Reuters) - MGM Resorts International :MGM Resorts International recommends rejection of mini-tender offer by TRC Capital Corporation‍​.MGM Resorts-got notice of unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 3 million shares of co at $29.50/share in cash‍​.MGM Resorts - TRC capital offer is for approximately 0.52 percent of co's outstanding common stock.  Full Article

MGM China files announcement with the HKSE disclosing updated expectations regarding opening date of MGM Cotai‍​
Friday, 29 Sep 2017 06:39am EDT 

Sept 29 (Reuters) - Mgm Resorts International :MGM Resorts - on Sept 29, MGM China, unit of co, filed announcement with the HKSE disclosing updated expectations regarding opening date of MGM Cotai‍​.MGM Resorts International - currently expects project to open on Jan 29, 2018 and total estimated project budget to be $3.4 billion.MGM Resorts says MGM China currently anticipates any damage caused by Typhoon Hato will be substantially covered by insurance - SEC filing​.  Full Article

‍Senator Investment reports 5.57 percent passive stake in MGM Resorts International
Monday, 18 Sep 2017 05:07pm EDT 

Sept 18 (Reuters) - MGM Resorts International :‍Senator Investment Group reports 5.57 percent passive stake in MGM Resorts International as of September 12 - SEC filing​.  Full Article

MGM Resorts International announces adoption of $1.0 billion share repurchase program
Tuesday, 5 Sep 2017 04:11pm EDT 

Sept 6 (Reuters) - MGM Resorts International :MGM Resorts International announces adoption of $1.0 billion share repurchase program.MGM Resorts International - ‍under stock repurchase program co may repurchase shares from time to time in open market/ in privately negotiated agreements.​.  Full Article

MGM Resorts and MGM Growth Properties announce transaction on MGM National Harbor casino resort
Tuesday, 5 Sep 2017 04:06pm EDT 

Sept 6 (Reuters) - MGM Growth Properties LLC :MGM Resorts International and MGM Growth Properties LLC announce transaction on MGM National Harbor casino resort.MGM Growth Properties - ‍subsidiary of MGP will purchase long-term leasehold interest, real property improvements associated with MGM National Harbor casino resort​.MGM Growth Properties LLC - ‍MGM Resorts will lease property from MGP and continue to operate property following consummation of transaction​.MGM Growth Properties LLC - ‍MGP will pay total consideration of approximately $1.1875 billion​.MGM Growth Properties LLC - ‍as a result of transaction, expect to achieve mid-single digit percentage accretion to affo per share​.MGM Growth Properties LLC - ‍consistent with master lease terms, 90 percent of rent will be fixed and contractually grow at 2 percent per year until 2022​.MGM Growth Properties - ‍MGM National Harbor will be added to existing master lease between MGM Resorts and MGP, rent payment to MGP to increase by $95 million.​.  Full Article

S&P Dow Jones indices says will make changes to the S&P 500 and S&P Midcap 400 indices effective prior to the open of trading on July 26
Wednesday, 19 Jul 2017 05:42pm EDT 

July 19 (Reuters) - MGM Resorts International :S&P Dow Jones indices says will make changes to the S&P 500 and S&P Midcap 400 indices effective prior to the open of trading on July 26.S&P Dow Jones Indices - MGM Resorts, Resmed, Packaging Corp of America, A.O. Smith and duke realty set to join S&P 500.  Full Article

Golden Knights, sportsbook enter into partnership

The Vegas Golden Knights and the William Hill U.S. sportsbook have agreed to a multi-year partnership, signing the first deal between an NHL team and a North American sportsbook, the team announced Tuesday.