MGM Resorts sells Northfield Park for $546 million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 21 2026
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Should l Buy MGM?
Source: Newsfilter
MGM Resorts International's stock rose 3.20% as it reached a 52-week high.
The company has successfully sold the operations of Northfield Park for $546 million in cash, which is expected to yield approximately $420 million in net cash proceeds after taxes and transaction costs. This divestiture reflects MGM's strategy to focus on core operations and enhance financial flexibility. Additionally, the company amended its master lease agreement with VICI Properties to reduce annual rent by $53 million, further improving its financial position.
This strategic sale not only strengthens MGM's balance sheet but also allows for selective investments in growth opportunities, positioning the company favorably for future developments.
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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: 39.740
Low
29.00
Averages
40.31
High
56.00
Current: 39.740
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.
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- Earnings Announcement: MGM Resorts is set to release its Q1 2023 earnings report on April 29 after market close, with consensus EPS estimate at $0.53, reflecting a 23.2% year-over-year decline, and revenue estimate at $4.38 billion, indicating a 2.6% year-over-year increase.
- Historical Performance: Over the past two years, MGM has beaten EPS estimates 75% of the time and revenue estimates 75% of the time, showcasing a consistent financial performance that investors may rely on.
- Estimate Revision Trends: In the last three months, EPS estimates have seen one upward revision and eight downward revisions, while revenue estimates have experienced five upward and five downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Market Analysis: Recent analyses suggest that MGM's momentum in the Chinese market could lead to a clean earnings beat, while its expansion plans in Osaka are viewed as potential growth drivers for the company.
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- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
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- Job Creation: The expansion has already created over 1,200 new jobs, with an additional 500 expected by summer, demonstrating the project's positive impact on the local economy while also providing training opportunities for residents.
- Tax Policy: Resorts World is required to pay 63% on slot revenue and 30% on table game revenue, although it included a clause in its license bid to lower its tax rate to match competitors once they are operational, indicating a strategic approach to maintain competitiveness.
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- 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.
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- Massive Investment: Operated by Malaysia's Genting Group, Resorts World invested $5.5 billion to transform a large video lottery terminal casino at Aqueduct Racetrack into a full-scale casino, significantly enhancing the competitive landscape of the regional gambling market.
- Market Competition Dynamics: The opening of the new casino will reduce the need for trips to Atlantic City casinos, particularly those operated by MGM and Caesars, while providing new gaming options for high-rollers and international visitors, which is anticipated to positively impact the local economy.
- Future Development Outlook: Although other casinos like Hard Rock and Bally's are set to open by 2030, Resorts World will dominate the market in the coming years, leveraging this window to solidify its position in New York City.
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- Cautious Investor Sentiment: As the traditional market adage 'Sell in May' approaches, investors remain wary of potential downside risks, particularly in light of poor software stock performance and rising oil prices, which could further dampen market sentiment.
See More
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- Earnings Announcement: MGM Resorts is set to release its Q1 2023 earnings report on April 29 after market close, with consensus EPS estimate at $0.53, reflecting a 23.2% year-over-year decline, and revenue estimate at $4.38 billion, indicating a 2.6% year-over-year increase.
- Historical Performance: Over the past two years, MGM has beaten EPS estimates 75% of the time and revenue estimates 75% of the time, showcasing a consistent financial performance that investors may rely on.
- Estimate Revision Trends: In the last three months, EPS estimates have seen one upward revision and eight downward revisions, while revenue estimates have experienced five upward and five downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Market Analysis: Recent analyses suggest that MGM's momentum in the Chinese market could lead to a clean earnings beat, while its expansion plans in Osaka are viewed as potential growth drivers for the company.
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
New York's First Full-Scale Casino Opens to Gamblers
- Casino Opening: New York City's first full-scale casino officially opened on Tuesday, marking a significant milestone more than a decade after the state's gambling expansion, with Resorts World securing one of the new licenses expected to generate $7 billion in tax revenue for the state.
- Job Creation: The expansion has already created over 1,200 new jobs, with an additional 500 expected by summer, demonstrating the project's positive impact on the local economy while also providing training opportunities for residents.
- Tax Policy: Resorts World is required to pay 63% on slot revenue and 30% on table game revenue, although it included a clause in its license bid to lower its tax rate to match competitors once they are operational, indicating a strategic approach to maintain competitiveness.
- Future Developments: The casino plans to build the city's first sportsbook, further solidifying its position in the entertainment industry, as the dream of Queens becoming an entertainment hub is gradually realized, drawing attention from various stakeholders including notable artist Nas.
See More
Resorts World New York City Celebrates Grand Opening of Casino
- 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.
See More
Resorts World to Open NYC's First Full Casino Next Week
- Casino Expansion Plan: Resorts World New York City plans to open its full casino next week pending final approval from the New York Gaming Commission, marking the first introduction of live casino table games in New York City, which is expected to attract a significant number of local and international gamblers.
- Massive Investment: Operated by Malaysia's Genting Group, Resorts World invested $5.5 billion to transform a large video lottery terminal casino at Aqueduct Racetrack into a full-scale casino, significantly enhancing the competitive landscape of the regional gambling market.
- Market Competition Dynamics: The opening of the new casino will reduce the need for trips to Atlantic City casinos, particularly those operated by MGM and Caesars, while providing new gaming options for high-rollers and international visitors, which is anticipated to positively impact the local economy.
- Future Development Outlook: Although other casinos like Hard Rock and Bally's are set to open by 2030, Resorts World will dominate the market in the coming years, leveraging this window to solidify its position in New York City.
See More
U.S. Stocks Near All-Time Highs as Investors Eye Tech Giants' Earnings
- Strong Market Performance: The S&P 500 and Nasdaq Composite indices reached new all-time highs in April, rising over 8% and 13% respectively, indicating robust market resilience despite ongoing geopolitical tensions and AI disruption concerns, reflecting investor confidence in tech stocks.
- Earnings Pressure on Tech Giants: Next week, five of the 'Magnificent Seven' companies will report earnings, with market expectations for them to demonstrate sufficient revenue growth to justify their high AI expenditures; Alphabet, Amazon, Meta, and Microsoft have all seen stock price increases of over 10% this month, highlighting the market's keen interest in their performance.
- Federal Reserve Meeting Impact: This is expected to be Jerome Powell's last meeting as chair, with the market widely anticipating that the Fed will keep interest rates unchanged, although rising oil prices could complicate future monetary policy, necessitating close attention to how this dynamic may affect the market.
- Cautious Investor Sentiment: As the traditional market adage 'Sell in May' approaches, investors remain wary of potential downside risks, particularly in light of poor software stock performance and rising oil prices, which could further dampen market sentiment.
See More
