Soroban Capital: Performance, Strategy, AUM and Partners

4. MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM) is a new company in Soroban’s equity portfolio, as the fund added 16.72 million shares worth $523.30 million during the second quarter. Last month, MGM Resorts International (NYSE:MGM)’s T-Mobile Arena in Las Vegas hosted the historical boxing match between UFC star Conor McGregor and boxer Floyd Mayweather. The event is expected to boost the company’s earnings, which last quarter disappointed the market on the back of weak revenue from China. The company posted EPS of $0.27 and revenue of $2.64 billion, which missed the consensus estimates by $0.03 and $30 million, respectively. The number of funds from our database long MGM Resorts International (NYSE:MGM) declined by nine to 54 during the second quarter.

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