A customer of BetMGM has sued the sports betting and online gaming operator for inducing him to cover up glitches and preventing him from reporting the same to regulators. BetMGM is a joint venture between MGM Resorts International (NYSE:MGM) and British firm Entain PLC. According to the Wall Street Journal, customer Sam A. Antar alleged that he regularly faced thousands of gaming disconnections (between May 2019 and January 2020), often in the midst of favorable hands, which he believes deprived him of potential winnings. The lawsuit has been filed in the New Jersey Superior Court.
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ExteNet Systems has announced a groundbreaking partnership with MGM Resorts International (MGM) to design, build and operate ExteNet''s advanced in-building signal and…
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MGM Resorts International (MGM)’s stock has witnessed a price declined of -3.69% from the previous close with its current price standing at $33.29. Its current price is -34.93% under its 52-week high of $51.17 and 26.07% more than its 52-week low of $26.41. Based on the past 30-day period, the stock price is -5.62% below […]
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Futures Slide As Hawkish Rikshock Sends Dollar, Yields Higher Again Ahead Of Fed Market sentiment was quite cheerful heading into the overnight session, with futures hitting a third-day high of 3,936 thanks to yesterday'' late day delta squeeze (plunge in VIX as both calls and especially puts were sold) but then it quickly soured after first German PPI came in at a mindblowing 45.8% (vs expectations of 37.1%) the highest on record since World War II… ...but what really spooked futures was the record hike by the Swedish central bank, the Riksbank, which pushed the repo rate higher by a more than expected 100bps to 1.75%, and even though the central bank eased back on terminal rate expectations, the market still saw the Riksbank surprise as potentially indicative of what the BOE and Fed may do in the coming hours. As such, European stocks fell with US equity futures, giving up early gains, as traders braced for another supersized US rate hike amid rising anxiety the Federal Reserve could overtighten and raise the odds of a hard landing.
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Football season is officially underway and this year is expected to be huge for sports betting stocks, particularly for wagers placed online. Since 2018, a total of 30 U.S. states have legalized sports betting, including 21 states that now allow online betting. Governments have warmed to sports betting as they see it as a way to generate new tax revenue and replenish coffers that were depleted during the Covid-19 pandemic. Americans love to bet on sports. According to the American Gaming Association, more than $125 billion has been wagered on sports since a 2018 Supreme Court decision that enabled all 50 states to offer online sports betting. In 2021 alone, Americans bet $57.2 billion on sporting events, an annual increase of 165%. Among sports betting, football is king. The American Gaming Association estimates that 45 million Americans placed bets on NFL games during the 2021 season and is forecasting even more betting to take place this season. A total of $7.61 billion was wagered on the Super Bowl this past February.
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Currently, MGM Resorts International’s (MGM) stock is trading at $32.65, marking a fall of -3.60% from last night’s close. At this price, the stock is -36.19% below its 52-week high of $51.17 and 23.63% above its 52-week low of $26.41. Based on the past 30-day period, the stock price is -11.08% below the high and […]
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New Jersey, USA -- ( SBWIRE ) -- 09/13/2022 -- Worldwide Casinos Market In-depth Research Report 2022, Forecast to 2028 is latest research study released by AMA evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Worldwide Casinos Market. Some of the key players profiled in the study are Bet365 Group Ltd. (United Kingdom), Betsoft (Malta), Boyd Gaming Corporation (United States), Chetu Inc. (Florida), Elaunch Solution Pvt. Ltd (India), Flutter Entertainment PLC (Ireland), Galaxy Entertainment Group (Hong Kong), Kindred Group PLC (Malta), LeoVegas AB (Sweden), MGM Resorts International (United States) Get Free Access to Sample Report @ https://www.advancemarketanalytics.com/sample-report/7797-global-casinos-market A casino is a facility for sure kinds of gambling. Casinos are regularly constructed close to or blended with hotels, resorts, restaurants, retail shopping, cruise ships, and different visitor attractions.
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The gambling business may be more attractive than you think right now.
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VICI Properties is a landlord of casino real estate with tenants such as Caesar''s Entertainment and MGM Resorts. Click here to read about my fair value estimate for the stock.
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In the current trading session, MGM Resorts International’s (MGM) stock is trading at the price of $33.54, a fall of -0.15% over last night’s close. So, the stock is trading at a price that is -34.45% less than its 52-week high of $51.17 and 27.00% better than its 52-week low of $26.41. Based on the […]
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MGM Resorts International (MGM) traded lower in early trading on Thursday after Argus clipped its rating on the casino stock to Hold from Buy. Read more.
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MGM Resorts (MGM) had declared $0.0025/share quarterly dividend, in line with previous. Payable Sept. 15; for shareholders of record Sept. 9; ex-div Sept. 8.
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The Las Vegas company is poised to acquire LeoVegas for about $604 million to expand its international online gaming business.
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The Las Vegas company is poised to acquire LeoVegas for about $604 million to expand its international online gaming business.
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In the current trading session, MGM Resorts International’s (MGM) stock is trading at the price of $33.03, a gain of 0.21% over last night’s close. So, the stock is trading at a price that is -35.45% less than its 52-week high of $51.17 and 25.07% better than its 52-week low of $26.41. Based on the […]
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MGM Resorts is going through a rapid recovery after casinos had to close during pandemic. Check out these two catalysts not priced in already in MGM stock.
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An economic recession is looking increasingly likely and it’s time to look around for stocks to sell. A majority of economists (72%) polled by the National Association of Business Economics say they expect the U.S. to enter a recession by the middle of next year. By some measures, the U.S. is already in a recession , popularly defined as two consecutive quarters of negative economic growth. This is bad news for consumers and businesses. Consumers, who are already feeling the impact of inflation that is running at 8.5% and higher interest rates used to dampen it are likely to batten down the hatches should the economy turn negative and companies begin mass layoffs. There are already signs that consumers are beginning to roll over. According to the U.S. Commerce Department, consumer spending rose a tepid 0.1% in June after falling 0.3% in May. Should things worsen on the consumer front, it could spell bad news for the economy overall, and also for certain stocks that are reliant on robust consumer spending to keep their share prices elevated.
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Casinos are now a great cash flow business.
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MGM China Holdings Ltd., the Chinese unit of the U.S. casino operator MGM Resorts International (NYSE:MGM), recently announced that it will invest around 4.8 billion patacas ($594 million) in the MGM Grande Paradise unit, its casino operator in Macau. The move comes as the company tries to abide by the new rules applicable for license renewals in the world’s biggest gambling hub, as licenses will expire at the end of this year. Macau updated its gambling laws earlier this year, with the objective to increase regulatory control and supervision. It also aims to bring companies’ operations in line with China’s national security interests, according to a Wall Street Journal report.
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Reuters Vodafone To Sell Hungarian Business For $1.8B: Report Vodafone Group Plc (NASDAQ: VOD ) forged an agreement with Hungarian 4iG and state-run Corvinus Zrt to divest its Hungarian business for 715 billion forints ($1.8 billion) in cash, Reuters reports. The deal excluding Vodafone’s shared services business VOIS will likely create Hungary’s second largest telecoms operator. “The Hungarian Government has a clear strategy to build a Hungarian-owned national champion in the (Information and Communications Technology) sector,” Vodafone CEO Nick Read said. FDA Says Study Needed To Assess Another Round Of Pfizer’s COVID-19 Pill As Infection Rebounds The FDA has asked Pfizer Inc (NYSE: PFE ) to test an additional course of its antiviral Paxlovid among people who experience a rebound in COVID-19 after treatment. According to the Reuters report, the company must produce the initial results of a randomized controlled trial of a second course of the antiviral by September 30 next year. The National Institutes of Health studied 13,644 COVID-19 patients treated with Paxlovid or Merck & Co Inc’s (NYSE: MRK ) molnupiravir within five days of their COVID-19 infection.
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Nevada''s largest employer is chomping at the bit at the possibilities of the first F1 race in Las Vegas since 1982 and is planning multiple race packages.
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Nevada’s largest employer is chomping at the bit at the possibilities of the first F1 race in Las Vegas since 1982 and is planning multiple race packages.
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IAC Inc. (IAC) , 10% Owner at MGM Resorts Intl (NYSE: MGM ), reported a large insider buy on August 15, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that (IAC) purchased 283,700 shares of MGM Resorts Intl. The total transaction amounted to $9,994,608. MGM Resorts Intl shares are trading up 0.51% at $35.72 at the time of this writing on Tuesday morning. Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm. Why Insider Transactions Are Important Insider transactions shouldn''t be used … Full story available on Benzinga.com
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Although US stocks closed higher on Monday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company''s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga''s insider transactions platform. Six Flags Entertainment The Trade: Six Flags Entertainment Corporation (NYSE: SIX ) Director Arik W Ruchim acquired a total of 525,000 shares at an average price of $23.82. To acquire these shares, it cost around $12.5 million. What’s Happening: Six Flags Entertainment recently reported a second-quarter … Full story available on Benzinga.com
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MGM Resorts stock (NYSE:MGM) has gained about 17% over the last month (21 trading days) considerably outperforming the S&P 500 which remains up by about 6% over the same period. The recent rally is being driven by a couple of factors including the company’s stronger tha
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In an Aug. 1 column, I suggested that only low-end consumers were struggling, and I stated that “those problems are not going to hurt most large growth stocks significantly.” On Aug. 9, investor and commentator Josh Brown, who has been very pessimistic on the state of America’s consumers until very recently, said on CNBC that the top 75% of consumers are not having financial problems due to inflation. Given Brown’s newfound optimism and the recent market rally, I believe that the Street has become much more bullish on the U.S. economy in recent days, making this a very good time to buy cheap value stocks. Low valuations, strong financial results, and a positive outlook usually foreshadow very strong stock performances. The names that I’ve included in this column have all three of those characteristics. Plus, due to largely unwarranted worries about inflation, and the Fed’s reaction to it, these stocks’ valuation has become even more enticing in recent days. MGM MGM Resorts International $34.49 NXPI NXP Superconductors $179.51 F Ford $15.45 Cheap Value Stocks: MGM Resorts International (MGM) Source: Michael Neil Thomas / Shutterstock.com With fears of the coronavirus having eroded tremendously in the U.S., Las Vegas casinos in general and MGM’s (NYSE: MGM ) properties, in particular, are booming.
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The global casino and hotel leader, Wynn Resorts Limited (NASDAQ: WYNN ) is set to report its second quarter earnings after the bell on Tuesday. Earnings Outlook: Today’s reporting comes after the company’s three main competitors reported their quarterly earnings. Those companies are Las Vegas Sands Corp. (NYSE: LVS ), MGM Resorts International (NYSE: MGM ) and Caesars Entertainment Inc. (NASDAQ: CZR ). It is noteworthy that all three companies followed the same trend when reporting earnings, by missing the consensus analysts'' estimates for earnings per … Full story available on Benzinga.com
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Earnings calls don''t always tease out what should be obvious to investors who take a long term view. MGM''s ambitions go way beyond the water''s edge.
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According to Benzinga Pro, during Q2, MGM Resorts Intl (NYSE: MGM ) earned $1.62 billion, a 4763.65% increase from the preceding quarter. MGM Resorts Intl also posted a total of $3.27 billion in sales, a 14.4% increase since Q1. MGM Resorts Intl collected $2.85 billion in revenue during Q1, but reported earnings showed a $34.79 million loss. What Is Return On Invested Capital? Earnings data without context is not clear and can difficult to base trading decisions on. Return on Invested Capital (ROIC) helps to filter signal from noise by measuring yearly pre-tax profit relative to invested capital by a business. … Full story available on Benzinga.com
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Trying to find a good bargain seems tough these days, but there are certainly opportunities for savvy investors. Looking for cheap blue-chip stocks to buy before they rebound is a smart strategy right now. As anyone that has been grocery shopping, to the gas pump or out for a night on the town can attest, the world has gotten a great deal more expensive in 2022 due to price hikes inexorably linked to Covid-19 and the Russia-Ukraine war. But that’s just on Main Street. Within the financial markets, an indiscriminate bear market has bullied shares of even the strongest companies. This includes firms with proven track records of long-term success known as blue-chip stocks. For smart investors, the following seven cheap blue-chip stocks are attractively positioned to buy now. MGM MGM Resorts $35.45 GM General Motors $36.23 DIS Disney $108.12 MU Micron Technology $64.85 BAC Bank of America $33.40 BIIB Biogen $217.30 CSCO Cisco Systems $45.38 Cheap Blue-Chip Stocks to Buy: MGM Resorts (MGM) Source: Charts by TradingView MGM Resorts (NYSE: MGM ) is the first cheap blue-chip stock to buy.
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MGM''s U.S. business is hitting on all cylinders.
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https://www.investing.com/news/pro/update-mgm-resorts-pt-raised-to-58-at-citi-robust-us-recovery-not-fully-priced-432SI-2863785
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https://www.investing.com/news/pro/cfra-upgrades-mgm-resorts-to-buy-432SI-2863721
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MGM Resorts International posted record pre-tax earnings at its Las Vegas properties in the second quarter, the company said in a release.
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WASHINGTON (dpa-AFX) - MGM Resorts International (MGM) Wednesday reported second-quarter net income of $1.78 billion or $4.20 per share, up from $104.7 million or $0.14 per share last year.Adjuste…
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MGM Resorts Intl (NYSE: MGM ) reported its Q2 earnings results on Wednesday, August 3, 2022 at 04:15 PM. Here''s what investors need to know about the announcement. Earnings MGM Resorts Intl missed estimated earnings by 88.46%, reporting an EPS of $0.03 versus … Full story available on Benzinga.com
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Las Vegas’ status as a popular tourist location has not returned to pre-pandemic levels, according to the Las Vegas Convention and Visitors Authority.
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The central thesis for buying hotel stocks right now is a belief that demand for travel will continue. And if that’s true, then the best hotel stocks will offer investors a combination of value and growth. Lost amid the ongoing concerns about flight delays is that Americans continue to travel. After two summers when travel was either non-existent or severely curtailed, Americans are taking long-planned vacations. And that’s good news for the hotel industry, which has been battered in the last two years. From personal experience, I can see that hotels are busier than they were during the pandemic. However, in my experience, occupancy is not quite back to pre-pandemic levels. That’s backed up by data from Smith Travel Accommodations Research (STR) that shows occupancy slightly below pre-pandemic levels. On the other hand, the same research shows that revenue per available room and average daily rates are both higher. 7 Cheap Stocks to Buy and Hold for the Long Haul Here are the seven best hotel stocks to buy now: Ticker Company Price MAR Marriott International, Inc. $149.34 CHH Choice Hotels International, Inc. $117.28 IHG InterContinental Hotels Group $57.64 MGM MGM Resorts International $31.14 BVH Bluegreen Vacations Holding Corporation $25.90 HT Hersha Hospitality Trust $10.02 BEDZ AdvisorShares Hotel ETF $22.50 Best Hotel Stocks: Marriott International (MAR) Source: DELBO ANDREA / Shutterstock The first on our list of best hotel stocks is Marriott International (NYSE: MAR ), the parent company for some of the industry’s most iconic premium hotel brands.
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