Meetings & Information


Monday, April 20, 2015

MGM: MGM Resorts defends itself in investor presentation, No debt deal between Caesars Entertainment and bankers

Food Fight among the Casino Vultures!

Clark Schultz, SA News Editor

  • MGM Resorts (NYSE:MGM) releases an investor presentation in front of its annual meeting scheduled for May 28.
  • The bulk of the material from the company defends the directors being targeted for replacement by Land & Buildings.
  • MGM also claims L&B makes "unsubstantiated" cash flow assumptions in deriving its rosy REIT projections.
  • MGM development schedule update: MGM Cotai (opening Fall 2016), MGM National Harbor (opening 2H 2016), MGM Springfield (opening 2H 2017), also pursuing opportunities in South Korea and Japan.
  • MGM Investor Presentation (.pdf)
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Clark Schultz, SA News Editor

  • Caesars Entertainment (CZR -14.9%) discloses it was unable to reach an agreement with a group of bank lenders over debt restructuring terms.
  • Talks between one of the company's units and the group of bankers have ceased for the time being.
  • SEC Form 8-K
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