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Fly News Breaks for December 10, 2019
MGM, MGP
Dec 10, 2019 | 06:49 EDT
Citi analyst Smedes Rose downgraded MGM Growth Properties (MGP) to Neutral from Buy with a price target of $31, down from $36, after assuming coverage of the name. With 62% of MGM Growth's shares currently owned by MGM Resorts (MGM), the company is a controlled entity and management of MGM Resorts can have a significant influence on the company, Rose tells investors in a research note. Further, although rents are set to withstand a downturn, Las Vegas resorts can have significantly more cash flow volatility during a recession versus regional assets, adds the analyst.
News For MGP;MGM From the Last 2 Days
MGM
Mar 28, 2024 | 09:34 EDT
Nevada reports February Las Vegas Strip gaming win up 12.4% to $800.75M versus last year. Publicly traded companies in the gambling space include Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (FLUT), Gan Limited (GAN), Genius Sports (GENI), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn Entertainment (PENN), Rush Street Interactive (RSI), Sportradar (SRAD) and Wynn Resorts (WYNN).