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Last $21.43 USD
Change Today -0.52 / -2.37%
Volume 6.7M
MGM On Other Exchanges
Symbol
Exchange
Mexico
Frankfurt
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

mgm resorts international (MGM) Key Developments

MGM Resorts International Introduces the Compressed Natural Gas (CNG) Cadillac XTS Limousines

MGM Resorts International have introduced the compressed natural gas (CNG) Cadillac XTS limousines. The 22-foot-long luxury vehicles are the third generation of CNG-fueled limousines and vehicles in the MGM Resorts fleet. The Cadillac XTS limousines are 70 inches longer than traditional limos, giving them the designation of "stretch" limos. They are the first XTS limousines certified by Cadillac and the first-ever Cadillac XTS vehicles to be converted to CNG. The new limousines produce only one-ninth of the emissions when compared to their predecessors, the discontinued gasoline-powered Lincoln Town Car limousines. ARIA was the first resort in the company to introduce the luxury vehicle to its fleet. MGM Resorts currently has 31 CNG Cadillac XTS limousines servicing guests at ARIA, Bellagio Resort & Casino, MGM Grand Las Vegas and Mandalay Bay Resort & Casino. The new Cadillac XTS limousines have been specifically converted to enhance the guest experience and provide superior comfort while maintaining a responsibility to the environment. Each luxury vehicle includes custom leather interior. Additionally, each element – from door seals to systems – has been hand-selected to create the ultimate guest experience. The new Cadillac XTS limousines will join a family of other CNG vehicles in MGM Resorts' luxury transportation portfolio. CityCenter introduced the world's first full fleet of CNG-powered limos when it opened in 2009 based on the Lincoln Town Car limousine.

MGM Resorts International Breaks Ground on MGM Springfield

MGM Resorts International has broken ground on MGM Springfield, an approximately $800 million casino resort slated to open in fall 2017 in Downtown Springfield. The event marked the start of the construction phase of this unique urban mixed-use development, the Commonwealth's first destination casino resort. MGM Springfield will bring 3,000 permanent jobs and 2,000 construction jobs to Downtown Springfield. MGM has established a hiring goal of 35% of the workforce from the City of Springfield and 90 from a combination of Springfield and the region.

MGM Resorts International Amends Article I Sections 5 and 8 of the Amended and Restated Bylaws

Effective as of March 19, 2015, MGM Resorts International announced that it amended Article I, Sections 5 and 8 of the company’s Amended and Restated Bylaws to adopt a majority voting standard for the election of directors in uncontested elections. The new majority voting standard provides that to be elected in an uncontested election, a director nominee must receive a majority of the votes cast in the election such that the number of shares properly cast for the nominee exceeds the number of votes properly cast against that nominee. In contested elections where the number of nominees exceeds the number of directors to be elected, the voting standard will continue to be a plurality of votes cast.

MGM Resorts International Announces Changes of General Manager of Luxor Resort and Casino, Effective April 24, 2015

MGM Resorts has promoted Nik Rytterstrom as general manager of Luxor Resort and Casino. Rytterstrom most recently served as general manager of the company's Goldstrike Casino Resort in Tunica, Mississippi. Rytterstrom's appointment follows the retirement announcement of Renee West. She will retire effective April 24, 2015. Rytterstrom has more than a decade and a half of hospitality industry experience.

MGM Resorts International Presents at Credit Suisse 18th Annual Asian Investment Conference 2015, Mar-23-2015 04:00 PM

MGM Resorts International Presents at Credit Suisse 18th Annual Asian Investment Conference 2015, Mar-23-2015 04:00 PM. Venue: Conrad Hotel, Pacific Place, 88 Queensway, Hong Kong, Hong Kong. Speakers: Sidney Luk, AVP Investor Relations.

 

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MGM

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Valuation MGM Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.1x
Price/Book 2.6x
Price/Cash Flow 16.2x
TEV/Sales NM Not Meaningful
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