MGM's Las Vegas Presence and Partnership Experience Position It Well to Win a Japan Gaming License
We plan to reduce our no-moat MGM $39.50 fair value estimate $1-$2 to account for lower 2018 Las Vegas results and a slightly slower ramp at the new Macau Cotai property, leaving shares undervalued.Vegas (55% of EBITDA) second-quarter revenue per available room growth of 2.8% was at the upper end of 1%-3% guidance, despite the renovation disruption at Park MGM (property currently producing negative EBITDA), which is expected to continue through 2018. That said, MGM confirmed recent commentary g...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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