We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon
Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
After the big loss in Q3, MGM Resorts International’s stock price dropped down a little bit. However, MGT Capital Investments (MGT) just announced that it is suing the big casino companies like MGM Resorts, Caesars Entertainment, WMS Gaming, Penn National Gaming and Aruze Gaming America for patent infringement. According to a MGT investor presentation, this case could generate between $330 million and $4.5 billion over the life of the patent (10 years). It will definitely shock the casino industry, but not for MGT, this case makes them can have chance to double their stock price.
Slot machines are the most popular gambling method in casinos and generate about 70% of the average US casinos' income and don’t forget one thing, casinos replace their gaming devices about every seven years, and the last replacement cycle began in 2001, it should be 2008 next cycle, but we were hit by financial crisis, casinos just put their investment on hold, once the economy turns around, MGM would spend more money on it. Wise investors should have their own judgement on this case.
MGM Grand Hotel and Casino Symbol MGG | Stock Discussion ForumsShare