MGM Resorts to Complete 4 Casino Projects in 2018

MGM Resorts InternationalIn the past couple of year, the casino operator MGM Resorts has made considerable investments to expand and upgrade its domestic as well as international casino properties.

More than 90% of the projects of MGM Resorts are likely to get completed by the end of 2018, and the casino operator is hoping for a significant cash inflow from the newly created casino properties. In this post, we are going to discuss the projects of MGM Resorts that are on the verge of getting completed.

The casino operator has invested heavily in the resort at Monte Carlo, Las Vegas with an amount of $550 million. It is a major renovation project for the company, and MGM is working hard to rebrand it.

The casino has been developed keeping in mind of a younger audience. One of the main features of the casino is a $90 million theatre that will host superstars like “Lady Gaga“. When it is made available to people in 2018, the casino will be renamed as Park MGM, and it is expected to be the most beautiful project of MGM Resorts.

Park MGM is not the only project the casino operator is looking forward to completing in 2018. Four international projects are under construction at the moment. There is one MGM Cotai in Macau built with a cost of $3.4 billion. In the MGM Springfield project, the casino operator has invested approximately $1 billion. There are two major upgraded going on in Las Vegas which will cost around $280 million to the company.

Las Vegas Review-Journal

Since there are no projects for 2019, the overall expenditure for MGM Resorts is on the lower side. This time can be utilised by the casino operator to clear its debt and increase the value of shareholders. The analysts are of the opinion that MGM Resorts will have an income worth $3.3 billion in 2019 with a growth of $2 million from 2015 earnings.

Majority of the income can be used to clear off the debts. At the moment, the casino operator is overburdened with a deficit of $12 billion which will come down to $10 billion in 2019. By the end of 2019, the net debt ratio of MGM Resorts would be three.

With increased income flow and reduced debt, MGM Resorts might bring enormous dividends for its shareholders. The company has recently announced that it would be releasing regular dividends to its shareholders first time in 20 years. It means that an amount of $63 million would be divided amongst the shareholders based on the amount of stock held by the shareholders.

Jay Stevens

Jay Stevens

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