State officials reported that gambling revenue in November was basically flat with the state's casinos, bringing in $876 million during the month.
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Gambling revenues on the Las Vegas Strip were down 4% year over year to $508 million, although downtown revenue was up 13% over last year to $43 million during the month.
The state said that it collected $47 million in taxes from that monthly revenue, a 5% decline from the same period last year.
TheStreet Ratings team rates MGM RESORTS INTERNATIONAL as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MGM RESORTS INTERNATIONAL (MGM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and weak operating cash flow."