‘MGM 2020’ plan might improve EBITDA but affect customers relationships
Friday 23 de August 2019 / 08:34
⏱ 1 min read
(United States).- Brokerage Standford C. Bernstein today predicted the ‘MGM 2020′ phase one would lead the MGM Resorts’ EBITDA to reach US$200 million (MOP1.62 billion), as the company would have ‘leaner and more cost-effective’ operations and a more centralized management strategy.
The ‘MGM 2020’ is a series of cost-cutting and revenue optimization measures outlined by the group at the beginning of this year.
But the brokerage pointed out that those ‘optimization’ measures would ultimately affect the company’s relationship with its customers and doubted whether the company can sustain long-term growth.
“It is ‘nickel and diming’ a sustainable driver for MGM performance. While we wait to hear more details on Phase 2 of “MGM 2020″, potential incremental upside which may begin being realized in 2021 is currently not in our model,” the brokerage stated.
Analysts of Bernstein estimated MGM’s EBITDA of US$3.47 billion in 2020E, considering factors in property ramp-up from Park MGM, MGM Springfield, MGM Cotai, and the addition of Empire City/Northfield Park.
Categoría:Casino
Tags: Sin tags
País: United States
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