Vegas Casino Sale Megathread - Page 3 - Las Vegas Lifestyle Forum - Las Vegas Entertainment and Living Information

Just to be clear, the deal would be for MGM Holdings which is the parent company of MGM Studios. So just the media company.

Different company than MGM Resorts International. They’ve been completely separated for over 40 years now I think. That one has a market cap of roughly $19bln, 2-3x of what the studio is going to sell for.

Quote

05-17-2021 , 11:14 PM

#53

PokerHero77

Pooh-Bah

Join Date: Oct 2008 Posts: 5,788

The rumor is Amazon wants the resorts also.

Quote

05-17-2021 , 11:17 PM

#54

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

I hope so, I am already Prime players club level.

Quote

05-18-2021 , 06:42 AM

#55

madlex

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 17,409

Quote:

Originally Posted by PokerHero77

The rumor is Amazon wants the resorts also.

That would be interesting, do you have a link for that?

The bit I saw on Bloomberg said that resorts shares spiked briefly when investors confused the companies and went down again immediately after.

Quote:

Originally Posted by parisron

I hope so, I am already Prime players club level.

Apparently there are more Amazon Prime customers in the US than households.

Quote

05-18-2021 , 04:55 PM

#56

pig4bill

Carpal \'Tunnel

Join Date: Dec 2005 Posts: 33,759

Yeah, who wouldn't like to see the dealers pissing into bottles because Bezos is too cheap to let them use bathrooms?

Quote

05-18-2021 , 05:03 PM

#57

pig4bill

Carpal \'Tunnel

Join Date: Dec 2005 Posts: 33,759

Yeah, who wouldn't like to see the dealers pissing into bottles because Bezos is too cheap to let them use bathrooms?

Quote

05-18-2021 , 05:12 PM

#58

WateryBoil

Pooh-Bah

Join Date: Jul 2014 Posts: 5,762

Yeah

Quote

05-18-2021 , 07:07 PM

#59

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

Yea, but they would have 5 minute guaranteed delivery on your beer.

Quote

05-18-2021 , 08:00 PM

#60

PokerHero77

Pooh-Bah

Join Date: Oct 2008 Posts: 5,788

Quote:

Originally Posted by madlex

That would be interesting, do you have a link for that?

Below is the article. There was a photo of MGM Grand LV leading the article. I think the confusing part is the term "hospitality". That would be used to describe casinos more than studios/theme parks. Also confusing is referring to MGM stock, which is the resorts company. MGM Studios apparently is not listed, at least I could not find it. So, based solely on this article, there is nothing to clarify what is going on.

Quote:

MGM stock spiked after hours following a report from The Information that Amazon is in talks to buy the hospitality and entertainment giant. The move would be Amazon’s biggest move yet to expand in entertainment, the Information said, and is likely pursuing MGM's extensive content library.

According to the source, the status of the discussions with MGM, which owns a major film library, with interests in the long running James Bond franchise as well as other well known titles such as Rocky and Pink Panther, is unclear and it’s possible no deal will result, however even if there is no deal, other companies have also been looking at making a bid.

MGM stock spiked as high as $41 after hours before retracing gains although with 4.3% of the float short, should the news gain traction, it is likely that a squeeze could push it well higher.

Quote

05-18-2021 , 08:08 PM

#61

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

Amazon, MGM Studios Rumor Creates Confusion, Leads to Pop in MGM Resorts Stock

"Amazon (NASDAQ:AMZN) is rumored to be in talks to acquire MGM — the movie studio, not the gaming company. But confusion over nearly similar company names sent MGM Resorts International (NYSE:MGM) stock soaring late Monday"

https://www.casino.org/news/amazon-m...aming-company/

Quote

05-18-2021 , 08:16 PM

#62

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

MGM stock shot up and then when people realized they screwed up, it shot back down. lol

Quote

05-18-2021 , 08:20 PM

#63

madlex

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 17,409

Quote:

Originally Posted by parisron

Amazon, MGM Studios Rumor Creates Confusion, Leads to Pop in MGM Resorts Stock

That's what the Bloomberg report said. Investors confused the two companies and jumped on the one that's publicly traded.

Quote

08-09-2021 , 10:13 AM

#64

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

Quote

08-09-2021 , 12:46 PM

#65

madlex

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 17,409

Quote:

Originally Posted by parisron

Don't want to nitpick but it's important to note that we're not talking about "Golden Nugget's Online Gaming" which would be the Online Gaming part of the existing Golden Nugget business but about the legally separate entity "Golden Nugget Online Gaming".

Interesting note about the Golden Nugget Online Gaming stock: Stock price went through the roof last Fall/Winter only to go down to IPO level over the course of this year. After news of the transaction broke, it went up 50% while DraftKings was just slightly down.

Quote

08-09-2021 , 06:41 PM

#66

Guy Incognito

old hand

Join Date: Jan 2005 Posts: 1,888

I wonder if this makes it any more likely DK will expand operations to Nevada. Some of their lines are insanely better than any of the ones here, to the point where I've considered flying to Denver and back in a day just to place bets.

Quote

08-09-2021 , 06:49 PM

#67

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

I am pretty sure that is what they plan. I just hope I will be able to get an account, as I am banned from the Golden Nugget sports app.

Quote

08-10-2021 , 08:57 AM

#68

namisgr11

old hand

Join Date: Jun 2012 Posts: 1,504

Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm

https://finance.yahoo.com/m/26f569ab...m-resorts.html

LAS VEGAS (AP) — A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment CZR, +0.38% and MGM Resorts International MGM, -1.51%.

VICI Properties is a real estate investment trust that owns properties and leases them back to hospitality and entertainment operators. It announced with MGM Resorts on Wednesday that it will buy out MGM Growth Properties MGP, -1.06%, a publicly traded landowner of holdings in eight states.

The transaction includes about $5.7 billion in debt and is expected to close by next summer, subject to regulatory and stockholder approvals. The buyout easily ranks among the biggest real estate deals ever on the Las Vegas Strip.

“This is large-scale and high-quality real estate,” Ed Pitoniak, VICI Properties CEO, said on a conference call, the Las Vegas Review-Journal reported.

Bill Hornbuckle, president and CEO of MGM Resorts, said in a statement the transaction “unlocks the significant real estate value of our assets, enhances our financial flexibility and strengthens our ability to execute key growth initiatives.”

VICI owns Harrah’s Las Vegas and Caesars Palace, which are leased to Caesars Entertainment, and nearby undeveloped land east of the Strip.

The seven MGM Resorts properties on the Strip being acquired by VICI are The Mirage, New York-New York, MGM Grand Las Vegas, Mandalay Bay, Excalibur, Luxor, Park MGM and The Park Las Vegas promenade, which includes land under T-Mobile Arena.

Quote

08-10-2021 , 11:02 PM

#69

kimoser22

Pooh-Bah

Join Date: Jan 2010 Posts: 3,822

FYI, Vici is the REIT that came from the Caesars bankruptcy. So not just random money from Wall Street.

Quote

08-11-2021 , 12:11 AM

#70

grando1.0

Carpal \'Tunnel

Join Date: May 2012 Posts: 17,111

They also own the Venetian/Palazzo space

I'm assuming this is a "best for both parties" move? This is way over my head

Quote

08-11-2021 , 03:33 AM

#71

lvBlitzforce

old hand

Join Date: May 2014 Posts: 1,202

Quote:

Originally Posted by parisron

I am pretty sure that is what they plan. I just hope I will be able to get an account, as I am banned from the Golden Nugget sports app.

Why are you banned?

Quote

08-11-2021 , 09:08 AM

#72

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,743

Picking off soft lines before they change the line and winning over a decent period. They are a small operation.

Quote

08-11-2021 , 10:19 AM

#73

madlex

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 17,409

Quote:

Originally Posted by grando1.0

They also own the Venetian/Palazzo space

I'm assuming this is a "best for both parties" move? This is way over my head

MGM pays a pretty hefty price for past failures that led to very little financial flexibility.

To oversimplify it: imagine you own the house you live in. You also accumulated a ridiculous amount of debt over the last couple of years. That debt stands in the way of you being able to earn money in the future because “you need money to make money”. Now someone is offering to buy your house if you agree to rent it back from them for the foreseeable future. Sucks that you’re not a home owner anymore but at least now you have cash that might enable you to make money again in the future.