MGM Resorts set to reopen Mandalay Bay and Aria on Wednesday - Las Vegas Sun

MGM Resorts set to reopen Mandalay Bay and Aria on Wednesday - Las Vegas Sun


MGM Resorts set to reopen Mandalay Bay and Aria on Wednesday - Las Vegas Sun

Posted: 30 Jun 2020 02:08 AM PDT

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An exterior view of the Vdara and Aria hotel-casino Tuesday, Feb. 4, 2020.

MGM Resorts is bringing back two of its largest casino resorts in this fifth week of the reopening of the Las Vegas Strip.

The 4,004-room Aria resort is set to reopen at 10 a.m. Wednesday followed by 11 a.m. at Mandalay Bay, which has more than 4,400 hotel rooms, including the attached Delano and Four Seasons hotel properties.

Of course, Strip hotels are restricted to 50 percent capacity of those thousands of rooms, but officials are expecting increased demand for the Fourth of July weekend. Mandalay Bay and Aria join other resurrected MGM properties Luxor, which opened its doors again last week, and Bellagio, MGM Grand and New York-New York, all of which reopened on June 4 when Gov. Steve Sisolak gave Nevada casinos the green light.

Although it didn't receive the same local publicity as competitor Caesars Entertainment, MGM Resorts announced its own nationwide mask policy on June 24, the same day Sisolak mandated face coverings for all Nevadans and visitors in any public space across the state. "We hope that our guests will do their part to help the collective efforts to curtail the spread of the virus. Guests who do not wish to comply will be asked to leave the property," reads the company's statement. "It is clear that the coronavirus still presents a significant public health threat and masks have proven to be one of the best ways to curtail the spread. We want guests and employees to feel comfortable that we are putting their health and safety first."

MGM's previously established health and safety protocols will continue with this week's opening, including employee screenings and temperature checks, providing free masks to guests, a physical distancing policy with floor guides serving as reminders, plexiglass barriers or other measures installed to reduce risks in certain areas, standalone handwashing stations located on the casino floors and virtual check-in and other web-based protocols designed to reduce lines and crowds.

While the 21-year-old Mandalay Bay is renowned for its comprehensive and diverse offerings in gaming, entertainment, nightlife and dining, limited amenities will be available when the south Strip resort reopens Wednesday. Restaurants and bars including Citizens, Stripsteak, Hazel and the Rhythm & Riffs lounge will be open and the House of Blues will be serving food and drinks and offering live music in its restaurant space. The concert hall will remain closed.

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The Waldorf Astoria and its SkyBar are set to reopen this week.

Several stores at the Shoppes at Mandalay Place, the indoor skybridge connecting Mandalay Bay and Luxor, reopened last week along with Luxor. The Mandalay Beach pool complex along with the salon and spa will be opening with limited hours. At Delano, 3940 Coffee & Tea and Delano Beach Club are the only amenities reopening this week.

The Shark Reef Aquarium at Mandalay Bay, one of the most popular school group field trip destinations in Southern Nevada, is also set to reopen Wednesday, adding to the family and locals-friendly destinations coming back to the Strip. Others include the Adventuredome indoor theme park at Circus Circus and the Marvel Avengers Station at Treasure Island.

Aria, originally opened in December 2009 as the hub of the CityCenter development, will reopen restaurant and bar options including Bardot Brasserie, Carbone, Catch, Javier's, Burger Lounge, Alibi and its lobby bar. Aria's pool, spa and salon also open with limited hours, and the adjacent Shops at Crystals upscale mall has been gradually reopening its stores over the past two weeks. Also nearby, MGM's casino-free boutique hotel Vdara will remained closed for now, while the Waldorf Astoria, a Hilton property, announced it will reopen on Wednesday, as will its pool, Zen Café and SkyBar.

MGM Resorts has not yet announced reopening dates for its other Las Vegas properties, the Mirage and Park MGM.

Also reopening on the Strip this week is the Nobu Hotel at Caesars Palace on Thursday. Its adjacent Nobu restaurant reopened on June 5 along with other offerings at Caesars Palace.

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Aria, Mandalay Bay, Four Seasons Las Vegas, More to Open As Vegas Returns (Video) - Travel + Leisure

Posted: 15 Jun 2020 12:00 AM PDT

Aria, Mandalay Bay, Four Seasons Las Vegas, More to Open As Vegas Returns | Travel + Leisure

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MGM Grand, Aria reopening pool clubs - Las Vegas Review-Journal

Posted: 24 Jun 2020 11:56 AM PDT

Two Las Vegas pool clubs are reopening in time for Fourth of July weekend crowds.

MGM Grand's Wet Republic Ultra Pool and Aria's Liquid Pool Lounge plan to open July 2, according to a Wednesday statement from MGM Resorts International and Hakkasan Group.

The two won't operate as typical dayclubs and are instead reopening as extensions of the properties' resort pools to support customer demand. All visitors must be 21 and older, according to the statement.

The venues will follow updated health and safety protocols. Both will use a paperless menu system that's accessible on cellphones via QR code, and daybeds and lounge furniture will be separated to allow for physical distancing. The statement said a "rigorous cleaning plan" will also be implemented.

Bungalow, cabana and daybed reservations are required for both hotel and non-hotel guests.

Wet Republic reservations also offer bottle service packages. The venue had a multimillion dollar renovation completed this year and offers two new plunge pools that are nearly 100 feet long, 10 cabanas and 12 bungalows with "spacious seating" and flat-screen TVs.

Liquid Pool Lounge offers dipping pools, cocktails and food. There are eight cabanas, and daybeds lining the main pool.

Both pools are open Thursdays through Sundays from 11 a.m. to close. Reservations are required.

Reservations at Wet Republic are available online at wetrepublic.com or by calling 702-891-3563, and Liquid Pool Lounge reservations can be made at liquidpoollv.com or by calling 702-590-9979.

Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.

MGM Stock Is a Tough Buy With Surging Coronavirus Cases - InvestorPlace

Posted: 30 Jun 2020 05:24 AM PDT

The "Reopening America" trade has drawn a lot of attention from investors. Airline, cruise, gaming, restaurant and hospitality stocks have been spiking as a result, and MGM Resort (NYSE:MGM) has enjoyed the ride. MGM stock rallied more than 300% from the March low to the June high.

However, shares are now up "just" 168%. Is more downside heading toward MGM, or is this a dip that investors should buy?

Fears of a Second Coronavirus Wave Makes MGM Stock a Risky Bet
Source: Jason Patrick Ross / Shutterstock.com

The problem with the "Reopening America" trade is that it was a very swift and boisterous move higher. If you missed even a few days of it, then it likely wasn't worth chasing.

Now coming off that high, the group is losing momentum at a time where cases for the novel coronavirus continue to spike. The recent spike has states that reopened quickly rethinking their strategy. In some cases, like Texas, they are hitting the brakes and reversing some of those decisions.

For gaming stocks like MGM, those are not the type of headlines that are conducive to a higher stock price. Let's explore this one a bit more closely.

Valuing MGM Resorts

There's no way to put it, other than to say MGM Resorts was buried amid the coronavirus selloff. Shares fell 83% from the 2020 high, while the catalyst for such a decline is rather obvious.

With America shutting down, gaming and hotel stocks were going to take an enormous hit. Worse, sports were shut down too, as gaming revenue dried up for casinos. Now, sports is a problem for Disney (NYSE:DIS), but it's also a pain for Penn National Gaming (NASDAQ:PENN), Wynn Resorts (NASDAQ:WYNN) and others.

That said, there is some light at the end of the tunnel. After seeing a "strong reopening weekend," MGM planned to open even more of its properties. In other words, people are eager to get back to normalcy — and that includes going to Vegas.

If we do see a return to action in sports, then gaming stocks will have another revenue source opened up. It's the fear of a second wave shutting the country back down that's keeping investors at bay. Or if not a lockdown, a wave so severe that travel remains critically suppressed.

When the company most recently reported earnings, MGM missed on revenue and earnings estimates. That's no shocker, given the events we've seen unfold. However, it's the third consecutive quarter the company has missed top and bottom-line estimates.

Analysts expect MGM to lose $1.74 per share this year, followed by another loss in 2021 of 92 cents per share. That's even as analysts call for a 60% rebound in sales next year.

At the end of the day, it's a game of sentiment. If Vegas is open, sports come back and travel trends are strong, MGM stock should be okay. If traveling is weak and coronavirus cases continue to spike, I'd be hesitant to be long.

Trading MGM Stock

The first thing I did when I wanted to get a look at MGM stock, was look at the charts. The second thing I did was size up the balance sheet. In regards to the latter, MGM seems fine.

Current assets of $7.6 billion easily outweigh current liabilities of $2.6 billion. From that perspective, liquidity isn't an issue for me. While cutting the dividend and working on netting out its free cash outflow, an increase in revenue should help keep the financials afloat.

As for the stock price though, it's starting to struggle. Momentum is waning, as MGM stock breaks below the 38.2% retracement and the 50-day moving average. A correction from $24 down to the 50-day moving average just under $17 should have been a good buying opportunity. But it's failing to hold, showing that bulls don't have control demand is not strong enough.

Below the 50-day moving average and investors will have to see how uptrend support (blue line) holds up. I don't like putting all my eggs in that basket though, particularly as other more significant support levels failed.

On the upside, let's see if MGM stock can reclaim the 50-day moving average, putting $19 to $20 back in play.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.

Why MGM Resorts, Park Hotels & Resorts, and Marriott Stocks All Dropped Today - Nasdaq

Posted: 09 Jun 2020 12:00 AM PDT

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