Shares of MGM Resorts (MGM) - Get Report are rising more than 7% Friday despite a short-of-earnings-estimates quarter, after Chief Executive Jim Murren said the company would complete a review to sell company properties by the fall.
"We have a lot of options in front of us, actually very creative and interesting options," Murren said during the Las Vegas company's post-earnings conference call. "We also know that our real estate is undervalued in the marketplace."
The casino operator reported second-quarter earnings of 23 cents a share, short of analysts' expectations of 25 cents. Revenue was $3.22 billion, a bit above the $3.21 billion estimate.
"We feel good about the remainder of 2019, given the strength in our convention bookings and entertainment calendar," Murren said.