Trade MGM

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Thinking of trading MGM?

    1. MGM continues to churn out cash in Las Vegas, Macau revenues are rising, and a potential growth driver is on the horizon in Japan. This may not be a huge growth stock, but given the company's strength in attractive gaming markets, it is a solid long-term investment. 2. Due to the company's weak balance sheet and extensive spending on new properties, MGM did not offer a cash dividend in recent years; however, this changed in early 2017 and management's willingness to pay a dividend shows confidence that business is going better.
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MGM Resorts International is an American holding company that deals with global hospitality and entertainment that operates destination resorts in Las Vegas, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and The Mirage. The company was incorporated on January 29, 1986.In the mid-2000s, growth of its non-gaming revenue began to outpace gaming receipts and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average.The company shifted its focus from owning and operating resorts and casinos, to developing and building real estate in the leisure and gaming industry and launched the massive CityCenter mixed-use project, which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history.Its most recent developments include taking over Empire City Casino in Yonkers, NY in January 2019 and also recently opened MGM National Harbor in Maryland and MGM Springfield in Massachusetts.

1. Ironically, for a gaming company, MGM's balance sheet is quite a gamble. The company has more than $13 billion in debt, against less than $2 billion in cash. It has maintained this high debt level over the years, rather than taking advantage of an improved economy to shore up its fiscal position.With a heavy debt load and a willingness to take on more, MGM Resorts may just be too much of a risky bet for investors. 2. MGM is not the most attractive on a valuation basis. The stock is trading at 36x trailing earnings, and 25x forward earnings. That is in no way cheap for a cyclical business with a massive debt load.

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