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LAS VEGAS - MGM Resorts International (NYSE: MGM) announced today the appointment of Dame Donna Langley, Chairman of NBCUniversal Entertainment & Studios, to its Board of Directors, expanding the board to thirteen members. Langley, who oversees entertainment programming and marketing for NBCUniversal properties such as Peacock, Bravo, and NBC, brings extensive experience in content strategy, programming, distribution, and marketing to the MGM Resorts board.
Paul Salem, Chair of the MGM Resorts board, highlighted Langley’s entertainment background as a significant asset, stating that her guidance will be invaluable to the company’s vision of becoming the premier gaming entertainment company. MGM Resorts CEO & President Bill Hornbuckle expressed enthusiasm for Langley’s appointment, noting her global recognition as an innovative leader with a knack for reshaping industries and invigorating brands.
Langley has received numerous accolades for her influence and leadership in the entertainment industry, including being named one of TIME Magazine’s "100 Most Influential People" in 2024 and one of Fortune Magazine’s "100 Most Powerful Women in Business." Her appointment is part of MGM Resorts’ ongoing strategy to develop and produce proprietary sports and entertainment content for its guests.
MGM Resorts International is a global gaming and entertainment company with a portfolio of hotels, casinos, and live entertainment venues, generating annual revenue of $17.24 billion with a healthy 45.5% gross profit margin. The company is also involved in online gaming and sports betting through its ventures BetMGM, LLC, and LV Lion Holding Limited. According to InvestingPro analysis, MGM maintains a FAIR financial health score and trades at an attractive P/E ratio of 12.8x. MGM Resorts has been recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies® and is committed to sustainability and community engagement through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy.
This announcement is based on a press release statement from MGM Resorts International. While the stock is currently trading near its 52-week low, InvestingPro analysis reveals several positive indicators, including strong five-year returns and projected profitability for the current year. Discover more insights and 7 additional ProTips with an InvestingPro subscription, including exclusive access to the comprehensive Pro Research Report covering MGM’s detailed financial analysis. Forward-looking statements in this release are not guarantees of future performance and are subject to risks and uncertainties.
In other recent news, MGM Resorts International reported fourth-quarter earnings that exceeded expectations, with property-level EBITDAR reaching $1.24 billion. This strong performance was driven by MGM’s Las Vegas operations, which contributed $765 million in EBITDAR, surpassing estimates. The company also saw positive trends in Macau during the Chinese New Year, with a notable increase in traffic and gaming volumes. Analysts have responded to these results with optimism; JPMorgan raised its price target to $52, maintaining an Overweight rating, while CFRA upgraded the stock from Hold to Buy, increasing the target to $45. Mizuho Securities also adjusted its price target to $60, citing potential year-over-year growth and cost-saving measures. Truist Securities maintained a Buy rating with a $50 target, highlighting robust regional and Macau operations. Additionally, MGM Resorts has partnered with the College Basketball Crown to host a new post-season tournament, enhancing its visibility and engagement in the sports entertainment sector. These recent developments reflect a positive outlook for MGM Resorts, with analysts projecting continued growth and stability.
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