occupancy rate of 85 percent<\/a> January through March, far below the Strip average of 90 percent in the first three months of 2018.<\/p>\nEarnings Potential<\/b><\/h2>\n
MGM Resorts has long been Cramer’s preferred casino stock due to its US focus. Concerned over Wynn Resorts and Las Vegas Sands’ strong dependence in China’s Macau, the CNBC <\/i>financial pro preferred MGM.<\/p>\n
But after three years of annual gross gaming revenue declines in Macau, earnings are soaring after the People’s Republic eased its anti-corruption campaign on VIP junket groups. Casinos there are also benefiting from switching its focus from the high roller to the mass market.<\/p>\n
Late to the game in Cotai, MGM finally opened its $3.45 billion integrated casino resort on Macau’s main strip in February.<\/strong><\/p>\nWith the August 2018 opening of MGM Springfield, a $960 million integrated resort in Massachusetts, Murren says the company’s development cycle will conclude. The two new properties, plus the 2016 opening of MGM National Harbor outside DC, “should accelerate further de-levering and free cash flow.”<\/p>\n","protected":false},"excerpt":{"rendered":"
MGM Resorts is a “buy” according to CNBC’s\u00a0Jim Cramer. The “Mad Money” host declared during Thursday’s show that the recent selloff of the casino stock has been “hideous,” and the pullback presents a buying opportunity. “The selling here has been extreme,” Cramer stated. “Whenever we see this kind of action, we need to ask ourselves, […]<\/p>\n","protected":false},"author":25,"featured_media":76989,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
CNBC Stock Guru Jim Cramer Bullish on MGM Resorts<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n