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Weakness In Macau Business Weighs Over MGM Resorts' Q1 Earnings

MGM Resorts ( MGM ) last week reported its Q1 2016 earnings, which plunged over 60% amid continued weakness in its Macau business. We have recently updated our model to incorporate the results. Our revised price estimate for MGM Resorts is $24, which is around 5% ahead of the current market price. It should be noted that there has been no significant change to our forecast for the company. The table below summarizes MGM's performance in Q1.

See our complete analysis of MGM Resorts | Las Vegas Sands | Wynn Resorts

Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com

2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively.

3) MGM's revenue figures shown above are gross revenues and are not adjusted for promotional allowances.

References:

1) MGM Resorts International ( MGM ) James Joseph Murren on Q1 2016 Results - Earnings Call Transcript, Seeking Alpha, May 5, 2016

2) MGM Resorts' SEC Filings

For precise figures, please refer to our complete analysis for MGM Resorts

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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