MGM Resorts International Falls Nearly 4% After Hours on Q1 Results
Since the casino industry in the world's biggest gambling enclaves is essentially shut down because of the SARS-CoV-2 coronavirus, few investors expected a standout quarter from one of the sector's mainstays, MGM Resorts International (NYSE: MGM). In January, MGM agreed to sell its MGM Grand Las Vegas and its Mandalay Bay resorts to a joint venture controlled by the similarly named though independent real estate investment trust (REIT) MGM Growth Properties and Blackstone Real Estate Income Trust.