Can MGM Resorts International Reach This $3.1 Billion Goal by 2017?

The MGM Grand, one of MGM's largest Las Vegas properties with over 5,000 hotel rooms. Image source: MGM Resorts.

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MGM Resorts International(NYSE: MGM)is raising the stakes for its success. During a recent investor day in June, the company announced a new forecast oftotal 2017 year-end adjusted EBITDA(earnings before interest, tax, depreciation and amortization)of $3.1 billion, up about 40% from the $2.2 billion logged in 2015.Is that a realistic goal, or is MGM too bullish on its own growth prospects?

What MGM believes will get it there

Management is looking to grow EBITDA in multiple ways, including organic growth, return on capital investments such as new casino openings, and more efficient operations.

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