MGM Resorts likely to lose some share after cyberattack, says Macquarie

Macquarie keeps an Outperform rating and $60 price target on MGM Resorts (MGM). The company’s estimated $100M in losses related to cyberattack disruptions was in-line to slightly higher than expectation, even though the impact to Q4 should be lower judging by the management’s positive occupancy forecasts, the analyst tells investors in a research note. The firm adds that MGM “came out okay” following the disruption, even though it will likely lose some share to Caesar’s (CZR), Wynn Resorts (WYNN), and Golden Entertainment (GDEN) in Q3 and likely in Q4.