MGM Resorts' (MGM) BetMGM Expands Reach in Washington DC

Yahoo FinanceJul 18 23:07

Research reports｜CICC: It is expected that Macau's total gambling revenue in the second quarter will increase by 24% year-on-year, and MGM China is expected to lead the industry's recovery.

On July 18th, GeLongHui reported that Zhongjin released a report, predicting that Macau's total gambling revenue in the second quarter will increase by 24% year-on-year, and decline by 1.6% quarter-on-quarter, up to 77% of the total revenue in the second quarter of 2019. Industry EBITDA will grow by 23% year-on-year, but declined by 1% to $2.02 billion quarter-on-quarter, up to 84% of the second quarter of 2019, considering the continued strong performance of total gambling revenue and a relatively stable reinvestment ratio. Zhongjin expects Macau's total gambling revenue in the third quarter to increase by 2% quarter-on-quarter and 17% year-on-year. The bank lowered its full-year industry EBITDA forecast by 3% and raised next year's industry.

Gelonghui FinanceJul 18 15:34

BETMGM LAUNCHES MOBILE SPORTS BETTING APP THROUGHOUT WASHINGTON, D.C.

BetMGM, a leading iGaming and sports betting operator, today launched mobile sports betting operations across Washington, D.C. Previously accessible...

PR NewswireJul 18 02:30

JMP Securities Maintains MGM Resorts International(MGM.US) With Buy Rating, Raises Target Price to $59

JMP Securities analyst Jordan Bender maintains $MGM Resorts International(MGM.US)$ with a buy rating, and adjusts the target price from $58 to $59.According to TipRanks data, the analyst has a

Futu NewsJul 18 00:31 · Ratings

JMP Securities Maintains Market Outperform on MGM Resorts Intl, Raises Price Target to $59

JMP Securities analyst Jordan Bender maintains MGM Resorts Intl (NYSE:MGM) with a Market Outperform and raises the price target from $58 to $59.

BenzingaJul 17 19:31

Bank rating: Lyon expects EBITDA of Macau's gaming industry to fall 5% sequentially in the second quarter, with a preference for MGM China and Silver Entertainment.

July 17th Gongqing Hui｜Lyon's research report pointed out that due to the quarterly decline of Macao's second quarter gambling revenue by 1.6%, it is predicted that the gambling industry's second quarter EBITDA will fall by 5% quarterly to US$1.934 billion, and the gambling revenue forecast for 2024 and 2025 will be lowered by 3% and 5.3% respectively to US$28.6 billion and US$29.7 billion, and the industry's EBITDA forecast will be reduced by 8.1% and 5.8% respectively. It is expected that the industry's EBITDA will only fully recover to normal levels in the second half of next year despite the low gambling revenue in early July and the recent crackdown on illegal "money changers" which affected investor sentiment, but the balance sheet remains stable and reasonable.

Gelonghui FinanceJul 17 15:28