{"id":276902,"date":"2023-06-09T14:17:36","date_gmt":"2023-06-09T19:17:36","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=276902"},"modified":"2023-06-09T14:17:36","modified_gmt":"2023-06-09T19:17:36","slug":"mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/","title":{"rendered":"MGM Highest Ranked Gaming Firm on Forbes 2000 List"},"content":{"rendered":"

MGM Resorts International (NYSE: MGM) is the highest ranked gaming company on the newly published Forbes <\/em>Global 2000 list.<\/p>\n

\"MGM\"
MGM’s Aria on the Las Vegas Strip. The operator is the highest ranked gaming company on the Forbes<\/em> 2000 list. (Image: YouTube)<\/figcaption><\/figure>\n

The Bellagio operator placed 596th<\/sup> on the rankings, ahead of venerable firms from other industries such as Colgate-Palmolive, Blackstone — the owner of Bellagio\u2019s real estate — and Southwest Airlines, among others. MGM surged 147 spots<\/a> on a year-over-year basis, placing nearly 700 spots ahead of rival Las Vegas Sands (NYSE: LVS).<\/p>\n

The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value,\u201d according to Forbes<\/em>. \u201cThere are 58 countries represented by the publicly traded companies on the list. The U.S. leads the way with 611 companies on the ranking, and China comes in second with 346 Global 2000 companies.\u201d<\/p><\/blockquote>\n

MGM ranked fifth in the hotel, restaurant and leisure category while Sands placed 17th<\/sup>. Based solely on market capitalization, Sands is more than double the size of the Cosmopolitan operator.<\/p>\n

MGM Redemption Story<\/h2>\n

Like other casino operators, MGM was punished in the immediate aftermath of the coronavirus pandemic as it was by lengthy closures of its gaming venues on three months: Las Vegas, Macau and throughout its regional portfolio.<\/p>\n

\n

Through a series of capital-generating transactions<\/a> and under the stewardship of CEO Bill Hornbuckle and CFO Jonathan Halkyard, MGM has emerged with a cleaner, leaner investment thesis and one of the industry\u2019s strongest balance sheets.<\/p>\n<\/div>\n

\u201cWhile MGM has some capital outlays over the medium to longer term related to its development pipeline (NY \/ Japan), the current construct of the cash flows and the balance sheet allow for continued capital returns to shareholders via buybacks,\u201d wrote Deutsche Bank analyst Carlo Santarelli in a note to clients today.<\/strong><\/p>\n

He added that current pricing on MGM stock is attractive enough for the operator to continue its aggressive share repurchase program. The analyst rates the shares \u201cbuy\u201d with a $58 price target, implying 40% upside from the June 8 close.<\/p>\n

Not Many Gaming Companies on Forbes 2000 List<\/h2>\n

The concentration of gaming companies on the Forbes <\/em>2000 rankings is small. After MGM, the next highest-ranked firm with exposure to the industry is VICI Properties<\/a> (NYSE: VICI) in the 758th<\/sup> spot. That\u2019s MGM\u2019s primary landlord and the largest owner of gaming real estate in the U.S.<\/p>\n

Among Macau concessionaires, Galaxy Entertainment joins MGM and Sands on the list, but Melco Resorts & Entertainment, SJM Holdings and Wynn Resorts (NASDAQ: WYNN) didn\u2019t make the cut. The only other domestic casino operator to appear on the rankings was Caesars Entertainment (NASDAQ: CZR) in the 1,280 spot<\/strong>.<\/p>\n

Other gaming entities on the overall rankings included FanDuel parent Flutter Entertainment, which surged 239 spots to 1,077. Slot machine giant Aristocrat Leisure gained 33 places from the 2022 rankings, ascending to the 1,611 slot.<\/p>\n

The top five spots were commanded by JPMorgan Chase, Saudi Aramco and three Chinese state-controlled banks.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MGM Resorts International (NYSE: MGM) is the highest ranked gaming company on the newly published Forbes Global 2000 list. The Bellagio operator placed 596th on the rankings, ahead of venerable firms from other industries such as Colgate-Palmolive, Blackstone — the owner of Bellagio\u2019s real estate — and Southwest Airlines, among others. MGM surged 147 spots […]<\/p>\n","protected":false},"author":46,"featured_media":261405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,81883,81886],"tags":[81897,81903,82205,23],"acf":[],"yoast_head":"\nMGM Takes Top Spot Among Gaming Firms On Forbes 2000 List<\/title>\n<meta name=\"description\" content=\"MGM Resorts highest rated casino operator on Forbes 2000 list.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Takes Top Spot Among Gaming Firms On Forbes 2000 List\" \/>\n<meta property=\"og:description\" content=\"MGM Resorts highest rated casino operator on Forbes 2000 list.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-09T19:17:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/aria.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/\",\"name\":\"MGM Takes Top Spot Among Gaming Firms On Forbes 2000 List\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/aria.jpg\",\"datePublished\":\"2023-06-09T19:17:36+00:00\",\"dateModified\":\"2023-06-09T19:17:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM Resorts highest rated casino operator on Forbes 2000 list.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-takes-top-spot-among-gaming-firms-on-forbes-2000-list\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/aria.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/aria.jpg\",\"width\":1280,\"height\":720,\"caption\":\"MGM's Aria on the Las Vegas Strip. 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