MGM

MGM Resorts International

Consumer


Presented:10/15/2015
Price:$21.55
Cap:$12.29B
Current Price:$39.39
Cap:$11.97B

Presented

Date10/15/2015
Price$21.55
Market Cap$12.29B
Ent Value$24.59B
P/E RatioN/A
Book Value$10.35
Div Yield0%
Shares O/S570.11M
Ave Daily Vol8,284,443
Short Int3.40%

Current

Price$39.39
Market Cap$11.97B
MGM Resorts International operates as holding company that is primary engaged in the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities. The company operates through two reportable segments that are based on the regions in which it operates: Wholly Owned Domestic Resorts and MGM China. The Wholly Owned Domestic Resorts segment includes its wholly owned domestic resorts consisting of resorts located in Las Vegas, Nevada which include Bellagio, MGM Grand Las Vegas (including The Signature), Mandalay Bay, The Mirage, Luxor, New York-New York, Excalibur, Monte Carlo and Circus Circus Las Vegas; MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Circus Circus Reno in Reno, Nevada; Gold Strike in Jean, Nevada; and Railroad Pass in Henderson, Nevada. The MGM China segment owns MGM Grand Paradise, the Macau company that owns the MGM Macau and the related gaming sub concession and land concessions and is in the process of developing a gaming resort in Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.

Publicly traded companies mentioned herein: Las Vegas Sands Corp (LVS), MGM Resorts International (MGM), Wynn Resorts Limited (WYNN)

Highlights

The presenter is long shares of MGM Resorts (MGM), believing Macau-related concerns are distracting investors from the true value of the company. He expects upside from the US-based business, including a combination of RevPAR growth, margin expansion, and undervalued real estate holdings, and targets over $30 per share.

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Idea Discussion

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