Jefferies agrees that the catalyst path in Las Vegas and growth avenues with BetMGM, global digital, Japan and prospectively New York suggest upside for the casino stock.ĭuring the earnings call, MGM Resorts ( MGM) indicated that a settlement with the Culinary Union in Las Vegas could happen imminently, which could remove a Q4 overhang. "Notably, the improved positioning in Macau and the rapid recovery post the cyberattack suggest fundamental strength," he added. Jefferies analyst David Katz said the upside to expectations in the quarter, coupled with the positive commentary from MGM, should be positive for the shares. It offers an impressive array of over 2,200 slot machines, 42 electronic table. MGM China was also noted to be performing "exceptionally well." In addition, the company pointed to many near-term and long-term development opportunities, including casinos in New York and Japan. Just minutes from Downtown Washington, DC The grand MGM National Harbor is a world-class destination resort casino in. The MGM National Harbor, which opened in 2016, is a powerhouse casino near Washington, DC. The company also pointed to some near-term catalysts such as Formula 1's inaugural Las Vegas race next week, the upcoming debut of the MGM Collection with Marriott Bonvoy, and the Super Bowl in February. MGM Resorts International ( NYSE: MGM) pushed higher in early trading on Thursday after the casino operator topped estimates with its Q3 earnings report. Ffooter/iStock Editorial via Getty Images
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