Resorts World New York City Celebrates Grand Opening of Casino
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 28 2026
0mins
Source: seekingalpha
- Casino Opening Ceremony: Resorts World New York City held a ribbon-cutting ceremony and accepted its first official table game bets, marking the completion of phase one of its $5 billion expansion project, which is expected to significantly enhance the area's entertainment appeal.
- Scale of Expansion: The expansion includes a new hotel wing, a 7,000-seat entertainment venue, an indoor dayclub with pools, and a spa, aiming to transform the former racino site into a comprehensive resort, thereby driving local economic development.
- Market Competition Landscape: Although more full-scale casinos are set to open in New York City soon, Resorts World New York City will be the only full casino for several years, allowing it to solidify its market position and attract a large number of visitors during this window.
- Industry Dynamics: Wynn Resorts and MGM Resorts have both exited the New York City casino license bidding process, while Caesars Entertainment's Times Square project was voted down, highlighting the intense and complex competition in the market.
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Analyst Views on MGM
Wall Street analysts forecast MGM stock price to rise
14 Analyst Rating
5 Buy
7 Hold
2 Sell
Hold
Current: 38.110
Low
29.00
Averages
40.31
High
56.00
Current: 38.110
Low
29.00
Averages
40.31
High
56.00
About MGM
MGM Resorts International is a global gaming and entertainment company with national and international destinations featuring hotels and casinos, meetings and conference spaces, incredible live and theatrical entertainment experiences, and a range of restaurants, nightlife and retail offerings. Its segment includes Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. Las Vegas Strip Resorts consists of casino resorts: Aria, Bellagio, The Cosmopolitan of Las Vegas, MGM Grand Las Vegas, Mandalay Bay, Luxor, New York-New York, Excalibur, and Park MGM. Regional Operations consists of various casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and others. MGM Digital is its online gaming portfolio which consists of LeoVegas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
VICI Properties: A Top Dividend Stock Under $100
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- Robust Financial Performance: In Q1 2026, VICI's revenue reached $1 billion, reflecting a 3.5% increase year-over-year, while adjusted funds from operations (AFFO) grew by 5.7% to $650.9 million, demonstrating the company's ongoing profitability.
- Impressive Net Margin: The company maintains a remarkable net profit margin of 78%, up from 70.36% at the end of 2025, showcasing its effectiveness in cost control and profitability enhancement.
- Strong Market Position: As a gambling-focused REIT, VICI owns 61 gambling locations and 39 non-gambling entertainment properties, achieving 100% occupancy across its portfolio, which strengthens its competitive edge in the market.
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- Advisory Role: Deutsche Bank may be advising and potentially financing one of the buyers for Entain, which not only enhances the feasibility of the transaction but could also expedite the acquisition process, further bolstering MGM's market position.
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- High Dividend Yield: VICI Properties boasts a dividend yield of 6.35%, with a payout ratio of 61.25%, indicating strong management of dividend payments and ensuring stable returns for investors.
- Robust Financial Performance: In Q1 2026, VICI's revenue reached $1 billion, reflecting a 3.5% increase year-over-year, while adjusted funds from operations (AFFO) grew by 5.7% to $650.9 million, demonstrating the company's ongoing profitability.
- Impressive Net Margin: The company maintains a remarkable net profit margin of 78%, up from 70.36% at the end of 2025, showcasing its effectiveness in cost control and profitability enhancement.
- Strong Market Position: As a gambling-focused REIT, VICI owns 61 gambling locations and 39 non-gambling entertainment properties, achieving 100% occupancy across its portfolio, which strengthens its competitive edge in the market.
See More
High-Yield Stock Recommendations Amid Economic Uncertainty
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- Enbridge's Stable Revenue: Enbridge (ENB) operates over 18,000 miles of pipelines with a daily transport capacity of nearly 6 million barrels, and its stable revenue model has allowed it to raise its annual dividend for 31 consecutive years, currently yielding 5.3%.
- Progressive's Special Dividend: Progressive (PGR) paid a special dividend of $13.50 per share in January 2023; despite a 30% drop in stock price over the past year, its active policy count increased by 10% year-over-year, driving an 8% premium growth, with a current yield of about 7%.
- Portfolio Diversification Advice: Given the current economic uncertainty, investors should consider incorporating Vici, Enbridge, and Progressive into their portfolios to secure stable income streams and potential capital appreciation, especially as high-risk growth stocks face pressure.
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- Acquisition Target: MGM Resorts (MGM) is reportedly considering Entain Plc (GMVHF) as a potential takeover target, indicating its strategic intent to expand in the gaming industry, particularly given their existing joint venture.
- Private Equity Interest: Traders have noted that private equity firms CVC Capital and Apollo Global may also be exploring a transaction with Entain, either alongside MGM or independently, highlighting strong market interest and potential competition for the acquisition.
- Advisory Role: Deutsche Bank may be advising and potentially financing one of the buyers for Entain, which not only enhances the feasibility of the transaction but could also expedite the acquisition process, further bolstering MGM's market position.
- Historical Context: Entain previously rejected an all-stock takeover bid from MGM in January 2021, as well as a cash and stock offer from DraftKings in September 2021, reflecting Entain's strong market position and negotiation power.
See More
Analysis of High-Yield Dividend Stock Opportunities
- Overview of Vici Properties: As a premier gambling and entertainment REIT, Vici Properties owns 61 gambling locations and 39 non-gambling properties, leasing to 15 tenants while maintaining a 100% occupancy rate, showcasing its strong competitive position in the market.
- Stable Dividend Yield: Vici currently offers a dividend yield of 6.2%, having increased its dividend annually since going public in 2018, and is expected to maintain and raise dividend payments in the future, bolstering investor confidence.
- T. Rowe Price Business Growth: T. Rowe Price, a provider of investment services, manages $1.7 trillion in assets, with Q1 revenue increasing by 5.3% year-over-year, indicating robust growth potential in the financial services sector.
- Dividend King Prospects: With a dividend yield of 5% and a history of 40 consecutive years of dividend increases, T. Rowe Price is on track to achieve Dividend King status in the next decade, further solidifying its appeal as a long-term investment.
See More
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- Financial Health: In Q1 2026, Vici's revenue grew 3.5% year-over-year to $1 billion, while adjusted funds from operations (AFFO) increased by 5.7%, suggesting the company can maintain and potentially increase its dividend payments in the future.
- T. Rowe Price Stability: T. Rowe Price has raised its dividend for 40 consecutive years since its inception in 1937, currently offering a 5% yield, with a payout ratio of 55%, positioning it to achieve Dividend King status in the next decade.
- Asset Management Scale: As of Q1 2026, T. Rowe Price manages $1.7 trillion in assets, with revenue increasing by 5.3% year-over-year to $1.85 billion and net operating income reaching $680.5 million, showcasing its strong market position and profitability.
See More
VICI Properties Completes Acquisition of Golden Entertainment Assets
- Deal Finalization: VICI Properties officially completed the acquisition of Golden Entertainment's operating assets and seven casino real estate properties for $1.6 billion after approval from the Nevada Gaming Commission, marking a significant expansion in the gaming sector.
- Portfolio Enhancement: The acquisition enhances VICI's Las Vegas-area holdings, which now include iconic properties such as Caesars Palace, MGM Grand, and The Venetian Resort, solidifying its position as a premier experiential REIT platform.
- Market Trend Validation: Analysts highlight that Golden Entertainment's addition to VICI's tenant roster further validates the OpCo/PropCo structure as the dominant model in regional gaming, reflecting a positive trend in sale-leaseback transactions within the industry.
- Shareholder Value Increase: Wedbush Securities views the deal as incrementally positive for VICI while providing a clear value crystallization for Golden Entertainment shareholders, indicating strong market recognition of the transaction.
See More
