Author Bio
Rhian Hunt grew up in a crowded Connecticut suburb before moving to Wisconsin, where he enjoys being an outdoorsman, relishing the struggle against mountainous snowfalls during the eternal-seeming winters and aerial armadas of mosquitoes over the summer. Rhian studied Business Economics and Microeconomics at the University of Wisconsin. A lifelong interest in writing led to first professional freelancing, then becoming a Motley Fool author.
Following the investor day presentation that
MGM Resorts International (NYSE:MGM) made yesterday, gambling industry investment bank and analysis firm Union Gaming issued a bullish research note and price-target boost today. Union believes MGM has a potential upside of approximately 26%, setting a $52 price target, as compared to the company s current share price of $41.14.
Brokerage Union Gaming Securities LLC says it does not expect the recent precautionary shutdown of operations at Cambodian casino complex NagaWorld (pictured), due to Covid-19 infections, to be “anything like” the “multi-month closure” of that casino market seen last year.
“The quarantine period in Cambodia is two weeks, but we suspect it could take a little longer to reopen out of an abundance of caution,” said a Tuesday note from analyst John DeCree, referring to the Phnom Penh operation of Hong Kong-listed NagaCorp Ltd.
The casino group had said in a March 1 filing to the Hong Kong bourse, that business at NagaWorld had been “voluntarily” suspended after 11 employees tested positive for Covid-19 amid screening of 3,000 workers.