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)
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
CZR price at time of publication: $10.25. Check CZR price now »
Focus Articles on CZR
- Ex-Watergate Prosecutor Appointed To Probe Caesars' Bankruptcy by Shock Exchange
- Caesars Remains A Highly Speculative Play by Shock Exchange
- Separating The Gold From The Pyrite In The Rubble Of The Caesars Bankruptcy by Howard Jay Klein
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