MGM - Chief Operating Officer Of MGM Resorts Intl Makes $1.34M Sale | Benzinga
A substantial insider sell was reported on December 14, by IAN COREY SANDERS, Chief Operating Officer at MGM Resorts Intl (NYSE:MGM), based on the recent SEC filing.
What Happened: SANDERS's decision to sell 30,000 shares of MGM Resorts Intl was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday. The total value of the sale is $1,344,582.
Tracking the Friday's morning session, MGM Resorts Intl shares are trading at $44.5, showing a down of 0.36%.
About MGM Resorts Intl
MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 74% of total EBITDAR in 2022. MGM also owns U.S. regional assets, which represented 31% of 2022 EBITDAR (MGM's Macao EBITDAR was negative in 2022). MGM's U.S. sports and iGaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. Further, we estimate MGM will open a resort in Japan in 2030.
MGM Resorts Intl: Financial Performance Dissected
Revenue Growth: MGM Resorts ...