2024.07.19
harrah s cherokee casino floor mapChaiken’s call is sparking an impressive rally in MGM stock, sending it higher by more than seven percent on volume that’s already more than double the daily average.MGM is a consensus Neutral name, in part due to a ‘conglomerate discount,’ but we think sentiment will improve. DraftKings (NASDAQ:DKNG) is attempting to acquire Entain Plc (OTC:GMVHY), MGM’s partner in the BetMGM venture.MGM Deserves More Credit forgslot casino bonus codes TransformationMGM is one of the pioneers of the asset-light strategy in the gaming industry, having significantly whittled its property holdings to become a leaner, cash-rich operating company. The company is the owner and operator of the Sands Regency Casino Hotel. hard rock casino in tampaA map showcasing the borders of the Reno Neon Line District is seen. MGM’s Golden Lion, seen above. But one analyst is making the case the stock isn’t adequately appreciated. bicycle casino outdoor gaming turtle creek casino onyxonline casino no deposit bonus keep what you win nzJacobs Entertainment, the owner of the Sands Regency Casino and the primary driving force behind the district development, says its first step in making the project a reality involves building a condominium complex and two apartment buildings. .8 percent, and Asians just four percent.Jacobs Entertainment unveiled three components of the company’s billion Reno Neon Line District undertaking in the Nevada city. how to win casino roulette wheelBut one analyst is making the case the stock isn’t adequately appreciated. While those asset sales have been taking place for two years, Credit Suisse’s Chaiken argues the stock isn’t getting enough credit for the company’s transformation.“MGM has gone through a transformation, recently announcing four transactions, and we believe the market is not giving full credit,” said the analyst.The operator’s recent spate of deal-making includes purchasing the operating rights of the Cosmopolitan on the Strip for about .6 billion, acquiring the 50 percent of City Center it didn’t previously own and using that transaction to sell the real estate of Aria and Vdara to Blackstone for $.89 billion and VICI Properties’ (NYSE:VICI) .2 billion all-stock acquisition of MGM Growth Properties (NYSE:MGP).That takeover efficiently monetizes MGM’s .4 billion stake in the real estate investment trust (REIT), and the gaming company is getting a one percent interest in the new VICI.Those transactions make MGM a “cleaner, more simplified organization, with a more attractive capital structure,” said Chaiken.Options for Cash, Limited Macau ImpactAs Chaiken notes, MGM could buyback a significant chunk of its .57 billion in market capitalization with its billion in cash. 5th Street between Washington and Ralston streets. hard rock casino upcoming concerts sunset station casino reopeningblackjack live casino bonusJacobs Entertainment, the owner of the Sands Regency Casino and the primary driving force behind the district development, says its first step in making the project a reality involves building a condominium complex and two apartment buildings. DraftKings (NASDAQ:DKNG) is attempting to acquire Entain Plc (OTC:GMVHY), MGM’s partner in the BetMGM venture.MGM Deserves More Credit forgslot casino bonus codes TransformationMGM is one of the pioneers of the asset-light strategy in the gaming industry, having significantly whittled its property holdings to become a leaner, cash-rich operating company. 11 close. Jacobs Entertainment unveiled three components of the company’s billion Reno Neon Line District undertaking in the Nevada city. The second apartment buildingslot casino bonus codesg is being targeted further west at the convergence of 4th, Keystone, and 3rd streets.Major Reno RenovationJacobs Entertainment is embarking on one of the largest mixed-use development initiatives in the history of Reno. .8 percent, and Asians just four percent.downstream casino golf course winstar world casino employees |