MGM - Massive Insider Trade At MGM Resorts Intl | Benzinga
DANIEL TAYLOR, Board Member at MGM Resorts Intl (NYSE:MGM), disclosed an insider sell on May 21, according to a recent SEC filing.
What Happened: TAYLOR's decision to sell 4,344 shares of MGM Resorts Intl was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday. The total value of the sale is $178,191.
Tracking the Wednesday's morning session, MGM Resorts Intl shares are trading at $40.47, showing a down of 0.83%.
All You Need to Know 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 62% of total EBITDAR in 2023. MGM also owns US regional assets, which represented low-20s of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). MGM's US 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 ...