LOL, why would I hate you? Every trader has to what they think is right. Now don't hate me but I think MGM will break $25 if not before earnings in the first part of August but when they report. With all that is going on in Vegas and looking forward I think it will be positive. One last note here. With gaming being down today MGM fared the best out of the big casino's
MGM woos millennials with cell phone gambling at 9 Vegas properties Visitors to Las Vegas now have another gaming option — mobile tournaments available on smartphones that you can play without leaving the bar or the pool. MGM Resorts, the largest casino operator on the Vegas Strip, said Wednesday it launched a mobile gaming platform and online tournament available on the Wi-Fi system at nine MGM properties. "This mobile platform that was just released is going to lay the foundation for what we do in the future," said Lovell Walker, executive director of Interactive Gaming Development at MGM Resorts. "We think that mobile is going to be a major part of gaming." MGM said this marks "the first digital and interactive tournament to be offered by a regulated casino in the United States." Mobile betting is one way MGM is hoping to draw in younger customers, who are more attached to their smartphones and online platforms and less into playing card games or slot machines on casino floors. More: http://www.cnbc.com/2016/07/13/mgm-...adline|headline|story&par=yahoo&doc=103786054
MGM covers all angles. Even with casinos starting to charge for parking, MGM's answer was if you have their rewards card it's on the house so to speak. With the markets down, MGM is up MGM Resorts premiering gaming tournaments for smartphones Guests of nine Las Vegas MGM Resorts International properties can play slot, video poker and bingo tournaments on their smartphones thanks to the introduction of a new digital and interactive tournament system the company has installed. They’re now offering the first mobile tournaments being played in a regulated casino in the United States. The easyPLAY mobile tournaments are conducted on the Wi-Fi platforms at Aria, Bellagio, MGM Grand, Mandalay Bay, The Mirage, Monte Carlo, Luxor, New York-New York and Excalibur. Las Vegas-based oneLIVE Inc. developed the technology that enables players to participate in tournaments on their smartphones and other mobile devices anywhere within the property. In some games, players can win thousands of dollars because players are competing with others in all nine properties. Read More: http://www.reviewjournal.com/busine...rts-premiering-gaming-tournaments-smartphones
The website would not allow copying text so here is a screen shot. The only reason there was a question on approval was because of MGM's partnership with Pansy Ho in Macau., What that has to do with New Jersey, I have no idea. .
Revenue Declines At Detroit Casinos; MGM Is The Clear Market Leader Detroit-area casinos saw a very slight decline in aggregate revenue for the second quarter, although year-to-date revenue remains on track with last year's numbers. For Q2, the casinos saw sales decline 0.2 percent to just under $350 million. Revenue at market-leader MGM Resorts International (NYSE: MGM) was down 0.7 percent to $149.9 million in the second quarter, while MotorCity sales fell 0.1 percent to $117.3 million. Greektown posted a gain of 0.4 percent to $82.3 million. http://finance.yahoo.com/news/revenue-declines-detroit-casinos-mgm-193740976.html
MGM Resorts International Announces Second Quarter 2016 Earnings Release Date LAS VEGAS, July 21, 2016 /PRNewswire/ -- MGM Resorts International (MGM) will release the Company's financial results for the second quarter 2016 before the market opens on Thursday, August 4, 2016. MGM and MGM Growth Properties LLC (MGP) will host a joint conference call that day at 11:00 a.m. Eastern Time, which will include a brief discussion of their respective results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on the MGM Resorts Investor Relations website at www.mgmresorts.investorroom.com under the Events section. http://finance.yahoo.com/news/mgm-resorts-international-announces-second-123000489.html
Nice close for MGM, two cents short of the HOD on high volume. At the top of the upper BB but not quite oversold just yet.
MGM RESORTS INTERNATIONAL (NYSE:MGM) ANALYSTS RECOMMENDATIONS AND INSIDER TRADING MGM Resorts International (NYSE:MGM) stock is currently trading at about $24.01 and lots of rating firms seem to have a target price set on the stock. The median 12-month price target of 14 analysts covering the company is $29.50, which suggests the stock could still gain more than 19 percent. The highest analyst price target is $32.00, which implies a gain of 67 percent. And roundups of analyst notes show that 12 are rating the stock a buy while 4 rate MGM a strong buy. There are 1 equity research firms suggesting a Hold and 0 consider it Sell. UBS issued their verdict on MGM Resorts International (NYSE:MGM) recently. The rating firm gave a Buy rating to this stock in a research note on Nov 2, 2015.Gabelli & Co analysts issued their verdict on MGM Resorts International (NYSE:MGM) recently. The rating firm gave a Buy rating to this stock in a research note on Jul 14, 2015. According to a research note published on Oct 7, 2014, analysts at Deutsche Bank have upped their rating on the company stock from Hold to Buy. http://www.zergwatch.com/2016/07/27...alysts-recommendations-and-insider-trading-5/
MGM gaining strength as the markets are losing strength. It may be on earnings expectations before market on Aug 2nd
MGM down slightly on WYNN's ER and a weak market. It is hard to say if they will have a beat o 8/2 but I will say that have been doing a lot of cost savings. I also think Jim Murren will give good guidance.
With earning on tap in the morning I like the way MGM is holding in this mini-melt down. The market was tough on WYNN even though it crushed the numbers. I can't make a call on earnings but I will say that they are more cost saving minded than WYNN and they have the least exposure to Macau. June numbers were up in Vegas with NHL Hockey on tap in MGM's front yard. The more I write this I will give MGM a 70% chance of making a beat.
