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st, MLPF&S Buy, PO $33 1Q investment thesis MGM is a levered play to improving/accelerating US economic growth. The US makes up 80% of EBITDA (70% Vegas, 20% Macau, 10% US regional) and the company has 4-5x net debt/EBITDA which is high, but coming down to under 4x by end of 2017 which could allow for
Page: HOUSE_OVERSIGHT_014630 →Buy, PO $33 1Q investment thesis MGM is a levered play to improving/accelerating US economic growth. The US makes up 80% of EBITDA (70% Vegas, 20% Macau, 10% US regional) and the company has 4-5x net debt/EBITDA which is high, but coming down to under 4x by end of 2017 which could allow for a possible
Page: HOUSE_OVERSIGHT_014630 →To: Jeffre E tein'e [email protected]] From: Sent Mon 9/28/2009 9:30:28 PM BUY OR SELL Is Vegas recovery reality or mirage for MGM? 25 September 2009 18:46 GMT Reuters News English (c) 2009 Reuters Limited * Shares up 60 percent so far this m
ry reality or mirage for MGM? 25 September 2009 18:46 GMT Reuters News English (c) 2009 Reuters Limited * Shares up 60 percent so far this month * Macau joint venture a "hidden jewel" By Deena Beasley LOS ANGELES, Sept 25 (Reuters) - Gamblers are starting to head back to Las Vegas, helping shares of
<https://ger.gm.cib.intranet.db.com/ger/document/pdf/0900b8c0890ec359.pdf> OB Analyst: Peter Milliken MGM (MGM) Why: Dislocated due to no direct Vegas comp and Macau weakness, very attractive sum of the parts valuation with tailwinds from Vegas. Possible Catalyst: Show improving results in Vegas,
gm.cib.intranet.db.com/ger/document/pdf/0900b8c0890ec359.pdf> OB Analyst: Peter Milliken MGM (MGM) Why: Dislocated due to no direct Vegas comp and Macau weakness, very attractive sum of the parts valuation with tailwinds from Vegas. Possible Catalyst: Show improving results in Vegas, stabilization i
ruary 2015 ages HOUSE_OVERSIGHT_018766 --- PAGE BREAK --- Area Overview The.Las Vegas Experience Developed as an entertainment destination, Las Vegas is driven by a consumer services economy where “the experience” is its primary commodity. Las Vegas is one of the most visited tourist destinations i
Page: HOUSE_OVERSIGHT_018767 →Gaylord Opryland Resort Disney’s Pop Resort Bally’s Borgata LOCATION Las Vegas Paradise Island Honolulu Lake Buena Vista Las Vegas Las Vegas Macau Las Vegas Las Vegas Las Vegas Las Vegas Nashville Lake Buena Vista Las Vegas Atlantic City HOUSE_OVERSIGHT_018768 ROOMS 3,565 3,414 3,386 3,05
Page: HOUSE_OVERSIGHT_018769 →Entities connected to both Vegas and Macau

Jeffrey Epstein
PERSON
Lesley Groff
PERSON
Las Vegas
LOCATION
Marc Rich
PERSON
John F. Kennedy
PERSON
Donald Trump
PERSONLeon Black
PERSON
Woody Allen
PERSON
Lawrence Krauss
PERSON
Samantha Power
PERSON
Bloomberg L.P.
ORGANIZATION
Barry Diller
PERSON
Wilbur Ross
PERSON
Colorado
LOCATION
George W. Bush
PERSON
Santa Monica
LOCATION
Michael Cohen
PERSON
Beverly Hills
LOCATIONAndrew Farkas
PERSON
Prince Andrew
PERSON