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Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Tiptopptrader, Apr 4, 2016.
The ER run continues this morning for MGM
MGM giving back some of the gains from the overbought level as the Big 4 are down today
Very nice, bouncing from 10 sma with volume, from a consolidation.
MGM off the early morning high but still on track to set a new 52 Week high
MGM set another 52 week high on Bernstein Macau prediction.Up 30% on shares and 22% on JAN 20th $33 calls
Set a new 52 week high
MGM's New National Harbor Casino Could Add $170 Million to 2017 Earnings
MGM Resorts Int'l (MGM) can expect its $1.4 billion National Harbor project, which opens tomorrow in suburban Maryland, to add $170 million to its EBITDA in 2017, an analyst told TheStreet.
Gambling was legalized in Maryland in 2010, and since 2012, annual gaming revenue has increased nearly 200% to $1.1 billion in 2015 from $378 million, according to the University of Las Vegas Center for Gaming Research. Maryland awarded MGM with the state's sixth gambling license in 2013.
"Maryland's gaming market is still growing. It is one of the more lucrative states and can still absorb more supply," Union Gaming analyst John DeCree said.
The new 23-acre casino resort in Oxon Hill, MD in suburban Washington, DC is part of the reason the company is the best gaming play in the sector, according to David Katz of Tesley Advisory Group.
MGM CEO Jim Murren spoke highly of MGM National Harbor during the company's third quarter earnings call last month, saying "We're so pumped about it. I don't know if we've ever been more excited. It's the only thing that everyone can agree on, that National Harbor is going to be a big success."
Despite the company's high hopes for the project, MGM National Harbor is entering a market that already has some dominant players. Maryland Live, about 30 minutes from National Harbor, controls 56.7% of the market, while the Horseshoe in Baltimore, about 45 minutes from the National Harbor, controls another 27.2% of the market.
Vegas On The Potomac: MGM National Harbor Opens Today Overlooking Nation's Capital
NATIONAL HARBOR, Md., Dec. 8, 2016 /PRNewswire/ -- Prominently situated on a hill overlooking the Potomac, MGM National Harbor will open its doors to the public at 11 p.m. tonight, introducing the first luxury gaming resort to the Capital Region. The debut marks an entirely new generation of entertainment and hospitality projects in the U.S.: a fully integrated resort in the heart of a major metropolitan area.
Experience the interactive Multimedia News Release here: http://www.multivu.com/players/English/7998151-mgm-national-harbor-hotel-casino
Built as a resort for the world but with a strong rooting in its community, MGM National Harbor is a destination distinct to its setting with monumental architecture inspired by the historical region. Stunning views of the Washington Monument, National Mall, U.S. Capitol, Potomac River, National Harbor and Old Town Alexandria are complemented by the lush woodlands and rolling riverscape of Prince George's County, where the resort is located.
Delivering a new experience to the East Coast and Mid-Atlantic, the $1.4 billion MGM National Harbor is more than simply a casino or hotel – it is an entertainment destination offering an unrivaled collection of attractions:
Exclusive restaurants by celebrated chefs José Andrés, Marcus Samuelsson, and Michael and Bryan Voltaggio complementing an array of specialty and quick casual dining with 15 concepts in all
The Theater at MGM National Harbor, an intimate 3,000-seat entertainment venue delivering A-list performers normally reserved for arena-sized settings, including Bruno Mars, Cher, Ricky Martin, Sting, Lionel Richie, Duran Duran and many others
Thoughtfully curated art program integrated throughout the resort featuring more than 70 local and national artists including Alice Aycock and John Safer, in addition to a sculpted iron archway designed by legendary folk artist Bob Dylan – his first permanent display of public art
The Conservatory at MGM National Harbor – a spectacular 15,000-square-foot floral attraction created by acclaimed designer Ed Libby that changes seasonally. The first exhibit, "Holiday Reflections," features more than 150,000 flowers
Two original nightlife concepts from Clique Hospitality, pioneers of the Vegas nightlife scene, introducing the region's first tableside mixology program
Two-level 27,000-square-foot Spa & Salon with 11 treatment rooms, a full service salon, rustic barber shop, couples' suites, hydrotherapy, a Vichy room, an exclusive wellness program by Clarins and more
An eclectic retail district with multiple offerings ranging from Fink's Jewelers, Stitched and Ella Rue to the first standalone boutique for SJP by Sarah Jessica Parker
Boutique hotel with 308 well-appointed rooms, including 74 suites ranging in size from 400 to 3,210 square feet and featuring floor-to-ceiling windows with magnificent views of the surrounding region
A 125,000-square-foot casino featuring an Asian gaming pit with 16 Macau-style Baccarat tables; more than 3,300 premium slot machines, including many first-to-market technology products; 126 table games; 39-table poker room; a luxury high-limit gaming room; and semi-private salons
For a complete property overview, visit: http://bit.ly/MGMNHResortOverview
"This level of private investment is unprecedented in the region, and so is what we've built," said Jim Murren, Chairman and CEO of MGM Resorts International. "MGM Resorts has long promoted global trade and travel – and MGM National Harbor will be a significant driver of both, strengthening Washington, D.C. as a tourist magnet."
Lorenzo Creighton, President of MGM National Harbor said, "MGM Resorts is bringing the same high standards for hospitality, service and quality to Maryland that we are recognized for in our hotels in Las Vegas and around the world. Furthermore, the resort's proximity to the nation's capital provides us with a rich, diverse community that has enabled us to build a dynamic workforce that reflects our commitment to inclusion."
Maryland Governor Larry Hogan, Senate President Mike Miller and Prince George's County Executive Rushern L. Baker, III will commemorate the opening with Jim Murren and Lorenzo Creighton, among others, at a press conference this morning at 11 a.m. celebrating the 4,000 full-time jobs the resort brings to the area. The resort's parking garage will open at 10:30 p.m., and the property will begin to welcome guests at 11 p.m.
Room reservations can be made for December 10 and beyond via mgmnationalharbor.com or (844) 646-6847. Nightly room rates start at $299 and suite rates begin at $399.
For additional information and high-resolution images of MGM National Harbor, please visit the MGM National Harbor digital newsroom or follow on Facebook and Twitter.
About MGM National Harbor
The newest addition to the MGM Resorts International (MGM) portfolio, MGM National Harbor's unrivaled setting offers stunning panoramic views of the eastern shore of the Potomac River in Maryland. The $1.4 billion resort sits a short distance from Washington, D.C. to the north and historic sites, including George Washington's Mount Vernon estate across the river in Virginia. The 24-story, 308-room resort features premier amenities and experiences for locals as well as visitors from around the world including a dynamic casino with over 125,000 square feet of space that includes slots, table games and poker; a world-class spa and salon; an entertainment theater with flexible seating for up to 3,000; high-end branded retail; 50,000 square feet of meeting space; and restaurants from renowned local, national and international chefs.
The Big 4 dropping hard and the following news. I went from be up over 2% up and now over 5% down on MGM. It is a overkill IMO
Beijing takes aim at Macau gaming industry to cut currency flight
WYNN also taking a big smack down
Wow, LVS, WYNN and MGM smacked
All up in PM. MGM up with decent volume > 600k at the moment. I'm feeling good about my add at 28.32 yesterday !
Shake Out. Watching the WYNN 200 day here for a Weekly Close Above
Think it's actually a short here. People are too bullish, want to just BTFD and shake off the news (however inconsequential this specific bit about Chinese ATMs may be).
Japan casino bill clears panel, paves way to legalise gambling
Domestic and international companies from MGM Resorts International to Japanese game-machine maker Sega Sammy Holdings Inc could benefit from legalised casinos in Japan, a market that brokerage CLSA estimates could be worth up to $40 billion a year.
Got an upgrade today from an "Aegis Capital" with 35 PT. That upgrade had no positive effect.
Look out for that shakeout.
I must agree with this article and many of the reasons I picked MGM over WYNN and LVS. I also picked MPEL which could take the lead when Macau is more in favor. Modestly up today due to a nonsense PR from the short network.
Undervalued MGM Best Gaming Pick Amid Macau Volatility
MGM nearing tge $30 target price on good data out of Macau
If the January numbers come in strong, MGM may break the $30 resistance
Looks like I might get some calls as MGM, LVS, and WYNN. should be going up on this not down
Tourism officials report record 42.9M Las Vegas visitors in 2016 (2017 predicted to be higher)
as Vegas drew a record number of visitors last year, 42.9 million people, even more than tourism officials had predicted.
The numbers were part of a preliminary tally of 2016 visitor statistics compiled by the Las Vegas Convention and Visitors Authority (LVCVA) and released Tuesday.
Kevin Bagger, director of research for the LVCVA, said his department had forecast that 42.5 million people would visit in 2016, 4 million fewer than the final count. This is the third consecutive year a new visitation record was set. Last year’s number was 1.5 percent higher than 2015’s.
Other tourism indicators were also up. According to Bagger’s report, the city saw record convention attendance, with 6.3 million people attending conventions in 2016, 7.1 percent more than 2015.
Also, while Las Vegas’ room inventory increased only slightly, the occupancy rate went up 1.4 percent in 2016 when compared to 2015.
While only one new resort — The Lucky Dragon — opened last year, Bagger said the reason Las Vegas’ numbers continue to improve is that the city continually reinvests in amenities people want.
“We tend to get a constant reinvestment in our infrastructure,” Bagger said. He cited the Lucky Dragon, the Julius Tower at Caesars Palace, the Topgolf attraction on Koval Road, T-Mobile Arena, Park Theater at Monte Carlo and SpeedVegas, a luxury car-driving facility in the south end of the Las Vegas Valley.
The LVCVA also compiles tourism statistics for Mesquite and Laughlin. Mesquite saw 1.3 million tourists visit last year, an increase of 11.4 percent compared to 2015. Laughlin had 1.9 million visitors, an increase of 1.2 percent compared to 2015.
While Bagger said 2016 will be “a hard year to beat,” he predicted that 43.2 million people will visit Las Vegas in 2017.