Thursday, February 18, 2016

MGM Talks About Upcoming Projects

MGM Resorts International reported earnings earlier today, along with hosting an earnings conference call.

Usually MGM reveals some breaking news during these conference calls, but not so much today. Instead the focus was on topics already known to the public, including:

- The upcoming opening of the new T-Mobile Arena and The Park.

- MGM Growth Properties, the company's upcoming REIT conversion.

- The progress of new properties at MGM Cotai and MGM National Harbor.

Also discussed was MGM's infamous Profit Growth Plan. This initiative designed to cut costs and raise prices resulted in MGM's decision to charge for parking. The Profit Growth Plan is hated by in-the-know Vegas customers, and judging by MGM's stock price (down 8.32% today) the plan isn't rewarding shareholders either (yet).