\nMGM Resorts \u2026 is well poised to grow on high brand awareness,” a recent Zacks note opined. “The company’s superior business model, extensive non-gaming revenue opportunities, high-quality assets, and attractive property locations are the primary growth drivers.”<\/p>\n<\/blockquote>\n
MGM CEO Jim Murren announced last month the formation of an ad-hoc committee that will review the company’s real estate holdings and real estate investment trust (REIT) structure.<\/p>\n
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Stock Performance<\/b><\/p>\n
MGM Resorts \u2013 like nearly every gaming industry stock \u2013 lost considerable valuation in 2018. Investors saw shares plummet roughly 30 percent.<\/p>\n
However, MGM has been on a winning streak in the new year, as shares have jumped from $24.26 on January 1, to $29 this week.<\/p>\n<\/div>\n
Competitor Earnings <\/b><\/h2>\n
2018 earnings reports for casino operators have been mixed so far.<\/p>\n
Las Vegas Sands reported a $170 million net loss in the fourth quarter, primarily due to the “nonrecurring, non-cash income tax items due to the implementation of US tax reform.” The world’s richest casino empire said full-year revenue totaled more than $13.7 billion, with net income at $2.41 billion.<\/p>\n
Wynn Resorts fell short of analyst expectations in the final three months of 2018, as adjusted net income per share was $1.06, far below the expected $1.36. Full-year revenue totaled $6.72 billion, and net income at $584.2 million.<\/strong><\/p>\nPenn National perhaps delivered its shareholders the best news<\/a>. The regional casino operator recorded record financials, primarily due to its $2.4 billion acquisition of Pinnacle Entertainment in 2018.<\/p>\nPenn National has emerged as one of the most dominant US casino operators. The company based in Pennsylvania now has 41 casino properties across 20 states, collectively housing 53,500 slot machines, 1,300 table games, and some 8,300 hotel rooms.<\/p>\n","protected":false},"excerpt":{"rendered":"
JPMorgan and Credit Suisse analysts say MGM Resorts is benefitting in 2019 from higher room rates at several Las Vegas Strip properties. The two financial services firms say in a note published Monday that room rates for the casino operator are between 13 percent and 20 percent higher in the first quarter of 2019 compared […]<\/p>\n","protected":false},"author":25,"featured_media":98151,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Analysts Say MGM Resorts Benefiting From Higher Las Vegas Rates<\/title>\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