MGM Resorts International. (NYSE:MGM)
About MGM Resorts International. (NYSE:MGM) MGM Resorts International, formerly MGM MIRAGE, is a holding company engaged in gaming, hospitality and entertainment. The Company owns and operates casino resorts, which includes offering gaming, hotel, dining, entertainment, retail and other resort amenities. At its wholly owned resorts, the Company’s primary casino and hotel operations are owned and managed by it. Other resort amenities may be owned and operated by the Company but managed by third parties for a fee, or leased to third parties. It also operates many managed outlets, utilizing third party management for specific expertise in areas, such as restaurants and nightclubs, as well as for branding opportunities. The Company has holdings in gaming, hospitality and entertainment, owns and operates 15 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, Illinois and Macau. In March 2009, it sold the Treasure Island casino resort (TI) in Las Vegas, Nevada.
Statistics Symbol
MGM
EPS
3.93
Current Price
$15.20
Market Capitalization:
$7.33B
52 week range
$8.92 $16.94
Shares Outstanding
482.37M
Avg Volume
15.54M
Beta Value
3.91
Financials MGM Resorts International. (NYSE:MGM) produced current quarter’s total revenue of $1.55 billion that is slightly greater than last quarter’s closing of $1.53 billion. However, operating and net income have gone down significantly which resulted decrease in EPS for the current quarter. The company’s cash flow from operations (CFO) has increased up to $380.40 million from last quarter’s ending cash flow of $349.84 million. This shows company is producing more cash than its expenses through its core business units which is a good sign for the investors. Total assets of company mount up to $1.28 billion as of 30 September, 2010 that is 28% less than last quarter’s ending but it has managed to maintain the current ratio. The company’s total equity is gradually decreasing which depicts that company is going to have some funding liquidity problems and fewer funds would be available to invest in future profitable opportunities.
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