mgm casino groupBut analysts and investors were surprised by the announcement because Murren’s current contract ends on Dec. Shares of MGM Resorts International (NYSE:MGM) are lower by about five percent in midday trading Thursday. But President Bill Hornbuckle acknowledged on Wednesday’s conference call that it could be 2025 before that’s a profitable business for the company.In his note, Wieczynski scoffed, saying “don’t talk to us about sports betting.” And if it’s a gaming company that’s returning capital to shareholders investors are looking for, the analyst sees better ideas out there.“Although management has stuck to its word by accelerating direct returns of capital to shareholders, we believe there are cleaner, more lucrative return-of-capital plays in the destination operator space today, notably LVS,” he said.roulette casino table for sale“Although this financial engineering decision could appear compelldraftkings casino rocket gameing in light of the strong current macroeconomic backdrop, we believe it elevates the long-term risk associated with owning the shares, a view that we do not believe is lost on investors.”Sales of the Bellagio, Circus Circus, MGM Grand, and Mandalay Bay netted the operator .2 billion in cash, helping it retire .1 billion in debt during the final three months of 2019. But analysts and investors were surprised by the announcement because Murren’s current contract ends on Dec. But analysts and investors were surprised by the announcement because Murren’s current contract ends on Dec. chukchansi casino dining

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telephone number for scarlet pearl casino31, 2021, meaning he’s leaving before that agreement expires. At least one analyst covering MGM sees change at the helm as potentially luring somdraftkings casino rocket gamee investors back to the stock, but acknowledges the news could be a near-term hurdle, too.The unexpected announcement of long-time CEO Jim Murren’s departure,has the potential to overhang the story in the near-term,” said Stifel analyst Steven Wieczynski in a note provided to Casino.org.For the last three months of 2019, MGM said it earned eight cents a share on revenue of .185 billion, well below Wall Street estimates of 24 cents on turnover of .208 billion.Headwinds GaloreAs is the case with rivals such as Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN), MGM is being hampered by the closure of casinos in Macau because of the new coronavirus from China (COVID-19). But President Bill Hornbuckle acknowledged on Wednesday’s conference call that it could be 2025 before that’s a profitable business for the company.In his note, Wieczynski scoffed, saying “don’t talk to us about sports betting.” And if it’s a gaming company that’s returning capital to shareholders investors are looking for, the analyst sees better ideas out there.“Although management has stuck to its word by accelerating direct returns of capital to shareholders, we believe there are cleaner, more lucrative return-of-capital plays in the destination operator space today, notably LVS,” he said.holland casino online poker reviewBut analysts and investors were surprised by the announcement because Murren’s current contract ends on Dec. (Image: Yahoo Finance)News of Murren’s departure stunned analysts and the gaming industry alike. He joined the company in 1998, rising to the top spot in 2008 while orchestrating MGM’s ascent as the largest operator on the Las Vegas Strip. admiral casino trustpilot

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wild casino free spinsMurren, 58, also played a pivotal role in bringing the first professional sports franchise to the city – the Vegas Golden Knights.He pledged to stay on until a successor is found. Murren, 58, also played a pivotal role in bringing the first professional sports franchise to the city – the Vegas Golden Knights.He pledged to stay on until a successor is found. But analysts and investors were surprised by the announcement because Murren’s current contract ends on Dec. 31, 2021, meaning he’s leaving before that agreement expires. 31, 2021, meaning he’s leaving before that agreement expires. The company’s China unit operates the MGM Macau and MGM Cotai in the world’s largest gaming center, and said it’s losing .5 million per day while those venues are shuttered, though that’s less bad than the roughly .5 million daily loss Wynn said it’s incurring.In the US, Wieczynski noted that with the exception of the Borgata in Atlantic City, N.J. sam town casino las vegas