1135 ET - MGM Resorts International's outlook on growth for its Las Vegas Strip Resorts unit this year is catching investors' and analysts' attention as shares of the hotel and casino operator reach their largest percent increase since November 2020. The company is targeting growth in Vegas despite the tough Super Bowl comparatives of the first quarter of 2024, UBS and Truist Securities analysts say in separate research notes. MGM says it identified $200M of incremental Ebitda opportunities: 35% of those from revenue initiatives and 65% from cost reduction initiatives, with $150M to be achieved in 2025. Overall, the company is the best performer in the S&P 500 today, according to FactSet. Shares rise 14%, to $39.16. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 13, 2025 11:35 ET (16:35 GMT)
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