MGM Cotai launch pushed back to 2H17: firm Casino operator MGM China Holdings Ltd on Tuesday said the opening of MGM Cotai (pictured), its under construction new resort in Macau’s Cotai district, would be moved to the second half of 2017. It had previously mentioned a second-quarter launch. “Given the complexity of the design of MGM Cotai and the company’s commitment to a successful opening that reflects the demands of the current market, the expected opening time of MGM Cotai will be adjusted from the second quarter of 2017 to the second half of 2017,” MGM China said in a filing to the Hong Kong Stock Exchange. The US$3.1-billion MGM Cotai was previously scheduled for a fourth-quarter 2016 launch. But in February 2016, MGM China announced that the opening of the property would be put back to the first quarter of 2017. That was followed by an August announcement that stated MGM Cotai was likely to open in the second quarter this year. More: http://www.ggrasia.com/mgm-cotai-launch-pushed-back-to-2h17-firm/
They have to have three-fourths vote of NFL owners (24 of 32) to allow the team to move. It ain't over til the fat lady sings that could be in March. With Pro Hockey already in place, and if the Raider do come to Vegas the casino's will reap big rewards with MGM as the biggest benifactor
MGM has been range bound for some time and it is opinion it is undervalued.A break of $30 in the near to mid term should be in line...Stay tuned
Considering LVS is down over 7% on ER, MGM holding up good. Reason being MGM has the least exposure in Macau unlike LVS.
MGM tagged the upper BB today but did not climb as much as I expected. As LVS and WYNN both missed, I am a little more bullish on MGM versus those two because of less exposure in Macau. They still have their new casino on hold over there. MGM is a long term hold for me looking to take some profits in the low $30's. I am now up 33% on my position.
Looking like a decent entry point coming up, but the upside seems to be about $30 target. Unless of course we get a breakout from this wedge.
Holding support here at $30, and more support to be found just below at the 200MA. 14%ish to be gained on a ride up to $34/share again...
With the horrible news lately has come a pullback with a buying opportunity. Has not broken through support and is holding the 200MA. 10% upside seems pretty obvious, although not guaranteed - obviously.
Overextended in the short term but I have some high hopes for MGM. There is a lot of open air above on the monthly chart:
