If New York is to see more casino projects, and it will, MGM Resorts International is qualified to fund such developments, an industry analyst said.
CBRE Credit Research issued a message to its clients outlining the resources that MGM Resorts could aim toward new projects around the world – including Empire City Casino in Yonkers.
Two CBRE analysts, Colin Mansfield and Connor Parks, determined that MGM’s recent sale of $850 million in corporate debt leaves the company positioned to take on new projects. The analysts wrote that the removal of that debt “clears out the 2025 maturities at MGM’s domestic box, with the next maturity being the $400 million due in late-2026.”
In simplistic terms: MGM is good to go to move forward with its ambitious plans.
