The company is now tightening its belt, and looking to improve margins for investors. Murren says the plan is to “transform the way we operate and leverage the most effective operational architecture for our company.”<\/p>\n<\/div>\n
Murren’s 2018 compensation totaled $12.8 million \u2013 355 times the average salary of an MGM Resorts employee.<\/p>\n
The ongoing trade war between the US and China has thrown global markets into a state of chaos. The uncertainty has hit the gaming industry hard, especially those companies invested in Macau such as MGM Resorts.<\/p>\n
Shares of the casino group traded on the New York Stock Exchange are flat in 2019, as the company has weathered the volatility well. Analysts and investors are excited regarding the MGM 2020 plan.<\/p>\n
Analysts at Morningstar and Union Gaming have both recently expressed bullishness regarding MGM shares.<\/p>\n
\nOf the 17 financial institutions that provided guidance on MGM this month, four said the stock is a “strong buy,” nine said a “buy,” and four said “hold.” None of the analysts recommended selling.<\/p>\n<\/blockquote>\n
However, one large potential dark cloud hovering over the casino company is the ongoing legal fight stemming from the October 1, 2017, mass shooting. MGM said this month the settlements could cost $800 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
MGM Resorts is meeting with 557 employees today to inform them their services are no longer needed. It’s the second round of layoffs in as many months for the casino giant that is Nevada’s largest employer. Last month, MGM eliminated 254 managerial positions. CEO Jim Murren revealed in a letter released Thursday that 222 additional […]<\/p>\n","protected":false},"author":25,"featured_media":106033,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
MGM Resorts Announces More Layoffs, 1,033 Positions Now Eliminated<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n