Upgrade to Buy: Welcome (back) to fabulous Las Vegas – Merrill/BofA

Merrill Lynch is making a significant call on the U.S. Gaming space saying the believe Las Vegas is on the cusp of a multi-year cyclical recovery, driven by favorable supply-demand dynamics of accelerating RevPAR and gaming win against decelerating room supply. - MGM Resorts (NYSE:MGM) upgraded to Buy from Neutral with a $21 target (prev. [...]