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MarketScreener Homepage  >  Equities  >  Nyse  >  MGM Resorts International    MGM

MGM RESORTS INTERNATIONAL

(MGM)
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MGM Resorts International : reports $800M 'possible' Vegas settlement figure

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05/16/2019 | 04:35pm EDT

LAS VEGAS — Casino giant MGM Resorts is telling federal regulators it thinks it might pay up to $800 million to settle liability lawsuits stemming from the October 2017 mass shooting that became the deadliest in modern U.S. history.

The company also tells the Securities and Exchange Commission it is insured for $751 million of that amount.

However, a Las Vegas plaintiffs' lawyer heading out-of-court talks with the company is calling it premature for MGM Resorts to report that it's "reasonably possible" a settlement will be reached by May 2020.

Attorney Robert Eglet says nothing is signed. He calls the company figure "not probable."

Eglet represents about 4,200 claimants who say they were harmed when a shooter rained gunfire from a Mandalay Bay resort suite into an open-air concert, killing 58 people and injuring more than 800.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (USD)
Sales 2019 12 994 M
EBIT 2019 1 779 M
Net income 2019 423 M
Debt 2019 13 070 M
Yield 2019 1,86%
P/E ratio 2019 35,8x
P/E ratio 2020 18,2x
EV / Sales2019 2,12x
EV / Sales2020 1,96x
Capitalization 14 532 M
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Technical analysis trends MGM RESORTS INTERNATIONAL
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 34,15  $
Last Close Price 27,87  $
Spread / Highest target 47,1%
Spread / Average Target 22,5%
Spread / Lowest Target -13,9%
EPS Revisions
Managers
NameTitle
James Joseph Murren Chairman & Chief Executive Officer
William Joseph Hornbuckle President & Chief Operating Officer
Corey I. Sanders Chief Financial Officer
Roland A. Hernandez Lead Independent Director
Alexis Margaret Herman Independent Director
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