morongo casino hotel dealsMGM Resorts International (NYSE:MGM) is the largest operator on the Las Vegas Strip, and the shares are up 41 percent year-to-date. Jacobs Entertainment unveiled three components of the company’s billion Reno Neon Line District undertaking in the Nevada city. 11 close. twin river casino barsThe company is the owner and operator of the Sands Regency Casino Hotel. 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. 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. harrah s cherokee river valley casino reviews

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oxford casino and hotelThe casino company unveiled its billion Reno Neon Line District vision in 2019. “Further, MGM will end up with ~ billion of cash, and can either buy back a material portion of its market cap, or invest in high growth areas, such as sports betting.”The analyst’s bull call on the casino giant comes as the company is weighing options regarding how to proceed with its thriving BetMGM unit. (Image: Las Vegas Review-Journal)In a note to clients today, Credit Suisse analyst Benjamin Chaiken upgrades the Bellagio operator to “outperform” from “neutral,” with price target. free slots real prizesOne complex will be built just south of W. One complex will be built just south of W. A map showcasing the borders of the Reno Neon Line District is seen. island view casino biloxi

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winstar world casino lost and foundThat implies upside of more than 53 percent from the Oct. “Further, MGM will end up with ~ billion of cash, and can either buy back a material portion of its market cap, or invest in high growth areas, such as sports betting.”The analyst’s bull call on the casino giant comes as the company is weighing options regarding how to proceed with its thriving BetMGM unit. Chaiken’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. But it’s unlikely the company will spend all of that capital on share repurcgslot casino bonus codeshases.Should DraftKings acquire Entain and MGM is successful in retaining BetMGM, the casino company will need a technology partner for the online gaming unit, and it could acquire one with a portion of the cash stockpile/ But it remains to be seen if that will be necessary.As for the operator’s Macau exposure, which may appear to be a liability due to recent regulatory headwinds, Chaiken notes MGM China accounts for just of MGM’s stock price.Jacobs says it will develop, own, and lease the condos.Jacobs additionally announced two apartment projects in the district. MGM’s Golden Lion, seen above. sunset station casino suites