Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

MGM Resorts International / Equity Bottom-Up

<ul><li>MGM Resorts International showcased a strong performance in its Third Quarter 2024 Earnings Call, illustrating both growth and challenges in its various business divisions.</li><li>The company, under the leadership of CEO Bill Hornbuckle, and supported by other key executives, reported record consolidated net revenues and an impressive performance by its subsidiary, MGM China.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

MGM Resorts International showcased a strong performance in its Third Quarter 2024 Earnings Call, illustrating both growth and challenges in its various business divisions.The company, under the leadership of CEO Bill Hornbuckle, and supported by other key executives, reported record consolidated net revenues and an impressive performance by its subsidiary, MGM China.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

MGM Resorts International: Focusing on High-Value Casino Operations To Redefine the Industry! - Major Drivers

<ul><li>MGM Resorts International experienced a diverse financial outcome in its second quarter of 2024, balancing pronounced strides in certain sectors with challenges in others.</li><li>A focal point was the 3% increase in net revenues in Las Vegas, bolstered by increased room rates and occupancy, suggesting resilience in MGM’s core operations.</li><li>The integration with Marriott significantly contributed to the company's room bookings, suggesting a promising avenue for revenue enhancement.</li></ul>

MGM Resorts International experienced a diverse financial outcome in its second quarter of 2024, balancing pronounced strides in certain sectors with challenges in others.A focal point was the 3% increase in net revenues in Las Vegas, bolstered by increased room rates and occupancy, suggesting resilience in MGM’s core operations.The integration with Marriott significantly contributed to the company's room bookings, suggesting a promising avenue for revenue enhancement.

MGM Resorts International: Expansion in Digital and Sports Betting Platforms & Other Factors Driving Our Bullish Thesis! - Financial Forecasts

<ul><li>MGM Resorts International's Q1 2024 results demonstrated robust performance, delivering another record quarter across the company's consolidated businesses.</li><li>Net revenues reached $4.4 billion, a 13% increase from the previous year, with a net income of $217 million and an adjusted EBITDAR of over $1.2 billion, demonstrating significant financial growth.</li><li>The strong performance was propelled by the company's diversified business model, consisting of its Las Vegas operations, regional properties, MGM China, and the progressing digital segment.</li></ul>

MGM Resorts International's Q1 2024 results demonstrated robust performance, delivering another record quarter across the company's consolidated businesses.Net revenues reached $4.4 billion, a 13% increase from the previous year, with a net income of $217 million and an adjusted EBITDAR of over $1.2 billion, demonstrating significant financial growth.The strong performance was propelled by the company's diversified business model, consisting of its Las Vegas operations, regional properties, MGM China, and the progressing digital segment.

MGM Resorts International: Potential Market Expansions to the UAE

<ul><li>MGM Resorts International's Q4 and full 2023 year earnings conference call indicates a mixed outcome, with positive results achieved especially in Las Vegas and MGM China.</li><li>CEO Bill Hornbuckle mentioned an all-time high in adjusted property EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) for both regions.</li><li>This was supported by 7 domestic properties setting records for the same metric.</li></ul>

MGM Resorts International's Q4 and full 2023 year earnings conference call indicates a mixed outcome, with positive results achieved especially in Las Vegas and MGM China.CEO Bill Hornbuckle mentioned an all-time high in adjusted property EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) for both regions.This was supported by 7 domestic properties setting records for the same metric.

MGM Resorts International: Is The Expansion in Property Locations To The UAE Expected To Be A Game Changer? - Major Drivers

<ul><li>MGM Resorts International exceeded analyst expectations in terms of revenue and earnings, marked by significant consolidated net revenues.</li><li>Despite disruptions across the portfolio, Las Vegas achieved high same-store ADRs, and regional net revenues hit a significant high on a same-store basis.</li><li>MGM's commitment to profitability, shareholder value, and cash flow growth remains robust, with confidence in the company's strategic positioning for the future.</li></ul>

MGM Resorts International exceeded analyst expectations in terms of revenue and earnings, marked by significant consolidated net revenues.Despite disruptions across the portfolio, Las Vegas achieved high same-store ADRs, and regional net revenues hit a significant high on a same-store basis.MGM's commitment to profitability, shareholder value, and cash flow growth remains robust, with confidence in the company's strategic positioning for the future.

MGM Resorts International: Innovative Online Gaming and International Ventures – The Future of Entertainment? - Major Drivers

United States

MGM Resorts International operates gaming, hospitality and entertainment resorts.  The Company owns properties in Nevada, Mississippi and Michigan in the United States; and owns interests in properties in Nevada and Illinois in the United States, and Macau. MGM Resorts also offers hospitality management services for casino and non-casino properties around the world.

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MGM Resorts International (MGM US)

MGM Resorts International: Focusing on High-Value Casino Operations To Redefine the Industry! - Major Drivers

MGM Resorts International showcased a strong performance in its Third Quarter 2024 Earnings Call, illustrating both growth and challenges in its...

Baptista Research

MGM Resorts International: Expansion in Digital and Sports Betting Platforms & Other Factors Driving Our Bullish Thesis! - Financial Forecasts

MGM Resorts International experienced a diverse financial outcome in its second quarter of 2024, balancing pronounced strides in certain sectors...

Baptista Research

MGM Resorts International: Potential Market Expansions to the UAE

MGM Resorts International's Q1 2024 results demonstrated robust performance, delivering another record quarter across the company's consolidated...

Baptista Research

MGM Resorts International: Is The Expansion in Property Locations To The UAE Expected To Be A Game Changer? - Major Drivers

MGM Resorts International's Q4 and full 2023 year earnings conference call indicates a mixed outcome, with positive results achieved especially in...

Baptista Research

MGM Resorts International: Innovative Online Gaming and International Ventures – The Future of Entertainment? - Major Drivers

MGM Resorts International exceeded analyst expectations in terms of revenue and earnings, marked by significant consolidated net revenues. Despite...

Baptista Research

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