The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. Begin your TipRanks Premium journey today.

By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. See today’s best-performing stocks on TipRanks > In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $60.00 price target. These factors combined reinforce Beynon’s confidence in MGM’s stock. The recently announced $2 billion share repurchase program, along with the remaining $806 million from the third quarter, provides further evidence of the company’s strong financial standing and growth potential.

This financial stability positions MGM to capitalize on both capital returns and growth opportunities, particularly in the emerging digital sector and new markets like New York and Japan. In addition to MGM’s strong performance and promising outlook, Beynon also noted the company’s sturdy balance sheet as a significant factor contributing to his Buy recommendation. The report also highlighted MGM’s robust standing, with a mix of exposure to various markets, including Vegas, Regional, Macau, and Digital. Furthermore, the expectation of a positive outlook for the company’s operations in Las Vegas and Macau contributed to the optimistic rating. Firstly, MGM’s third quarter earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) outperformed across all segments. Macquarie analyst Chad Beynon has maintained their bullish stance on MGM stock, giving a Buy rating yesterday.Ĭhad Beynon’s Buy rating for MGM Resorts is largely influenced by a combination of factors.

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