In court, City of Springfield asserts right to say ‘no’ to MGM casino sale – CDC Gaming

Springfield is in court to block MGM's casino sale to Clairvest, claiming MGM failed to meet its 2013 host community agreement. MGM seeks $500M in damages for delayed sale. The city argues MGM lacks required table games, slots, and jobs. MGM claims arbitration is mandatory. Judge's ruling is pending.

Jefferies reduced its price target for MGM Resorts International from $45 to $34. The stock has seen a 5-day change of 29.40 USD, a 1st Jan change of +0.27%, a 4-month change of -3.73%, and a year-to-date change of -19.43%. The company's ratings are based on various composite factors including valuation, EPS revisions, and visibility.

MGM Resorts' MGM Osaka project is on track for a 2030 opening. The company plans to invest an additional $125M to $175M this year. The resort will feature a large casino floor, 2.5K hotel rooms, and significant conference and exhibition space. MGM and its partner Orix each own 40% of the venture.

Goldman Sachs lowered its price target for MGM Resorts International from $43 to $30. The company's shares were trading at $29.32, up 0.17% in pre-market. This adjustment comes amid a strong quarter for BetMGM, a joint venture involving MGM.

MGM Resorts will remain independent after Barry Diller's People Incorporated withdrew its $18 billion take-private offer. People holds 27% of MGM shares. MGM shares fell from $38 to $32 since the decision. Diller cited debt and deal complexities. MGM may now consider acquiring People. No operational changes announced for MGM properties.

MGM Resorts CEO Bill Hornbuckle expressed openness to acquiring People Inc., which had previously attempted to take MGM private. People Inc. holds 27% of MGM and withdrew its offer last week. MGM stock was down 3%, while People Inc. stock rose 9% on acquisition rumors. Neither company confirmed the reports.