MGM Resorts (NYSE:MGM) is the largest resort operator on the Las Vegas strip. It represents approximately 25% of all units in the market. MGM stock fell 2.47% on May 7. Shares have dropped 7% over the past month.The company released its first quarter results on April 29. Consolidated net revenues rose 13% from the prior year to $3.2 billion and consolidated adjusted EBITDA climbed 5% to $740 million. Adjusted earnings missed analyst estimates and came in at $0.12 per share. This was a sharp drop from $0.34 per share in adjusted profit posted in the prior year.
Transitioning venues in its home city within the state of Nevada to MGM management, the previous deal between the two relating to Stack at The Mirage, Fix, Yellowtail, and Lily Lounge at Bellagio, as well as Alibi Ultra Lounge and Herringbone at Aria, will end effective May 31, 2019.Ari Kastrati, senior vice president of food and beverage strategy at MGM, commented: "Hakkasan Group is an outstanding partner and we look forward to our continued collaboration with them. Moving forward, as we bring the management of Stack, Fix, Yellowtail, Lily, Alibi and Herringbone, including all employees, under the MGM Resorts umbrella, we will be focused on a seamless transition and continuing to deliver unparalleled experiences for our guests. "
Last January, MGM Resorts International announced a job cuts initiative that would see labor costs reduced in order to boost the company s operating cash flow. The goal is to increase the cash flow by $200m ( 178m), or into the billions range by 2020.
A 28 year old Chandigarh based part time travel agent Sukhvinder Singh has been arrested by the Goa Police for allegedly murdering his wife while on a holiday in North Goa's Arpora village on April 27, a police officer said on Friday.
Per TheWrap, Taffer will whisk troubled couples to a five star Puerto Rican resort where he ll put their relationship to the test with a series of unique, customized challenges that will help determine whether they ll stay together or separate. Taffer will draw upon his vast set of skills along the way, calling people liars when he s not informing them of how fucked they are. So you won t commit to this marriage, and neither will you, he deadpans in the below teaser. You guys are screwed. Holy shit.
Paramount Network is taking its unscripted Rescue franchise from the bar to the altar.The cabler has greenlit Marriage Rescue, a spinoff in which Bar Rescue star Jon Taffer tries to help couples save their unions. Taffer brings the participants to a resort in Puerto Rico and uses unconventional methods mdash; including paintball, skydiving and no small amount of direct confrontation mdash; to help them get a fresh start. The six episode series premieres June 2.
As 2019 unfolds, MGM will be focusing on growth in Asia, but Macau may not be what's most important for investors in the long term.Las Vegas casinos are slow but steady
Las Vegas based casino company MGM Resorts International says it expects to cut about 1,000 jobs by June.The layoffs announced Monday include 254 jobs the company said last week it would cut as it works to reduce costs and boost earnings.
Today marks the 30th anniversary of Disney 's Hollywood Studios theme park at Walt Disney World in Orlando, Florida, and the resort is getting a makeover. Actually, two makeovers. First there 's the new stuff: the recently opened Toy Story Land section, the upcoming Star Wars: Galaxy 's Edge, and under construction Mickey and Minnie 's Runaway Railway attraction. And now there 's the new logo, which feels like an active attempt to sell visitors on this park 's refreshed identity, which has undergone a massive change in the past decade.
MGM Resorts has provided a first glimpse inside its recently opened The Mansion luxury enclave at Macau integrated resort MGM Cotai.
Since November 2, 2018, it had 1 insider buy, and 2 insider sales for $3.46 million activity. The insider BALDWIN ROBERT sold 108,000 shares worth $3.04M. JAMES PHYLLIS also sold $446,886 worth of MGM Resorts International (NYSE:MGM) shares.Caxton Associates Lp decreased its stake in Mgm Resorts International (MGM) by 98.85% based on its latest 2018Q4 regulatory filing with the SEC. Caxton Associates Lp sold 1.09 million shares as the company 's stock declined 3.38% while stock markets rallied. The hedge fund held 12,684 shares of the hotels and resorts company at the end of 2018Q4, valued at $308,000, down from 1.10M at the end of the previous reported quarter. Caxton Associates Lp who had been investing in Mgm Resorts International for a number of months, seems to be less bullish one the $15.20 billion market cap company. The stock increased 2.02% or $0.56 during the last trading session, reaching $28.31. About 5.97M shares traded. MGM Resorts International (NYSE:MGM) has declined 19.35% since April 28, 2018 and is downtrending. It has underperformed by 23.72% the S #038;P500.
Its $960m Springfield, Massachusetts, property is underperforming forecasts even before Encore Boston opens this summer.Its recent sports betting deals with the pro leagues are OK but seem like empty calories in terms of building long term betting revenue.
Finishing with a placing of eighteenth out of a total of 500 organisations listed, Forbes, in partnership with the research firm Statista, compiled the annual list by independently surveying in excess of 50,000 employees across 25 industries.MGM led the way in the travel and industry rankings with its placement, edging out a number of competitors that includes Wynn Resorts (207), Hyatt Hotels (144), Marriott International (124), Four Seasons Hotels and Resorts (78) and Hilton Hotels (65).