MGM to See Minimal Competitive Impact From Eldorado/Caesars Proposed Acquisition; Shares Attractive
Although we think Eldorado’s domestic casinos stand to see around a mid-single-digit revenue uplift from being added to Caesars’ 55 million loyalty program once the acquisition is completed in the first half of 2020, our analysis points to only a handful of Eldorado’s 26 facilities overlapping with just MGM’s Mississippi and Atlantic City properties. Overall, we estimate these regional properties for MGM amount to 10% and 11% of total 2019 EBITDA and sales, respectively, and think these faciliti...MGM Resorts International is a holding company. Through its subsidiaries, the company owns and operates casino, hotel, and entertainment resorts across the United States and in Macau. The company's segments include: Las Vegas Strip Resorts, which consists of casino resorts such as Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New York, Excalibur, and Park MGM; Regional Operations, which consists of casino resorts such as MGM Grand Detroit, Beau Rivage, Gold Strike Tunica, Borgata, MGM National Harbor, MGM Springfield, Empire City, and MGM Northfield Park; and MGM China, which owns and operates casino resorts and the related gaming subconcession and land concessions.
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