MGM Resorts International
About: MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 62% of total EBITDAR in 2023. MGM also owns US regional assets, which represented a low 20s share of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.
Employees: 63,000
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 7 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
9% more funds holding in top 10
Funds holding in top 10: 11 [Q2] → 12 (+1) [Q3]
0.44% more ownership
Funds ownership: 65.67% [Q2] → 66.11% (+0.44%) [Q3]
6% less funds holding
Funds holding: 715 [Q2] → 673 (-42) [Q3]
14% less capital invested
Capital invested by funds: $9.15B [Q2] → $7.85B (-$1.3B) [Q3]
27% less repeat investments, than reductions
Existing positions increased: 210 | Existing positions reduced: 286
29% less call options, than puts
Call options by funds: $280M | Put options by funds: $393M
35% less first-time investments, than exits
New positions opened: 77 | Existing positions closed: 119
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$44
29%
upside
Avg. target
$50
47%
upside
High target
$56
64%
upside
7 analyst ratings
6 positive
86%
1 neutral
14%
0 negative
0%
Barclays Brandt Montour 52% 1-year accuracy 44 / 85 met price target | 35%upside $46 | Overweight Maintained | 13 Dec 2024 |
JMP Securities Jordan Bender 37% 1-year accuracy 22 / 59 met price target | 46%upside $50 | Market Outperform Maintained | 25 Nov 2024 |
Mizuho Ben Chaiken 61% 1-year accuracy 35 / 57 met price target | 64%upside $56 | Outperform Maintained | 31 Oct 2024 |
Truist Securities Barry Jonas 58% 1-year accuracy 19 / 33 met price target | 64%upside $56 | Buy Maintained | 23 Oct 2024 |
Morgan Stanley Stephen Grambling 52% 1-year accuracy 11 / 21 met price target | 29%upside $44 | Equal-Weight Maintained | 22 Oct 2024 |
Financial journalist opinion
Based on 9 articles about MGM published over the past 30 days
Positive
Seeking Alpha
2 days ago
Tax Loss Selling, Three (More) Oversold Stocks
UnitedHealth Group shares have dropped over 20% due to public backlash and political rhetoric; current valuation suggests 17-30% upside potential. IAC remains undervalued in a SOTP framework, with MGM Resorts presenting significant upside due to its clean balance sheet and undervalued core US gaming business. MGM's US gaming business is undervalued at ~9x free cash flow; fair value suggests 25-43% upside when considering its Chinese business stake.
Neutral
PRNewsWire
3 days ago
W LAS VEGAS DEBUTS AT MANDALAY BAY
Hotel officially joins the MGM Collection with Marriott Bonvoy portfolio, marking the latest step in the long-term strategic licensing agreement between MGM Resorts International and Marriott International LAS VEGAS , Dec. 18, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) and Marriott International, Inc. (Nasdaq: MAR) officially mark the debut of W Las Vegas , transitioning the iconic 1,117-suite tower on the Mandalay Bay campus into the globally recognized W Hotels brand. Starting today, Marriott Bonvoy members can book stays and earn and redeem points at this vibrant destination, now part of the MGM Collection with Marriott Bonvoy.
Positive
The Motley Fool
5 days ago
Where Will MGM Resorts Stock Be in 5 Years?
MGM Resorts (MGM -1.50%) was a post-pandemic winner because it benefited from the resurgence of America's in-person entertainment venues after the lockdowns and other movement restrictions. However, with Las Vegas gambling near its peak, the company must look to new international markets to pioneer the next leg of long-term growth.
Neutral
PRNewsWire
2 weeks ago
MGM RESORTS PROMOTES ARI KASTRATI TO CHIEF CONTENT, HOSPITALITY AND DEVELOPMENT OFFICER
LAS VEGAS , Dec. 5, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced the promotion of Ari Kastrati to Chief Content, Hospitality and Development Officer, effective immediately. In his new role, Kastrati will oversee the Company's global design and development efforts and sports and entertainment partnerships.
Neutral
PRNewsWire
2 weeks ago
MGM Resorts International and MGM China to Speak at Leveraged Finance Conference
LAS VEGAS , Dec. 2, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") will participate in the 2024 Bank of America Leveraged Finance Conference on Tuesday, December 3, 2024. Senior leadership from MGM Resorts International and MGM China will speak at a session scheduled to begin at 9:30 a.m.
Positive
Zacks Investment Research
3 weeks ago
MGM (MGM) Up 1.4% Since Last Earnings Report: Can It Continue?
MGM (MGM) reported earnings 30 days ago. What's next for the stock?
Neutral
PRNewsWire
3 weeks ago
MGM RESORTS LEADS THE CHARGE AT LAS VEGAS GRAND PRIX WITH EXCLUSIVE EVENTS AND STAR POWER
Sold-Out Bellagio Fountain Club Headlines Race Weekend Experiences with Celebrity Chefs, Top Drivers, Stars and More Click here to download high-res images (credit: MGM Resorts) Click here to download b-roll from Bellagio Fountain Club, Fountain Walk, Boulevard Experience and Shoey Bar (footage courtesy of MGM Resorts) LAS VEGAS , Nov. 25, 2024 /PRNewswire/ -- As the checkered flag waves on the second year of the Las Vegas Grand Prix, MGM Resorts International has once again delivered as the ultimate race-weekend destination. Fans, celebrities and even top drivers - including Max Verstappen, George Russell, Lewis Hamilton and Carlos Sainz – took part in the unforgettable experiences the company curated across the Las Vegas Strip.
Neutral
PRNewsWire
3 weeks ago
BetMGM Rewards Points Now Combined Into Single, Digital Wallet
Streamlined nationwide access to digital bonuses, MGM Rewards Points, Marriott Bonvoy Points, and more JERSEY CITY, N.J. , Nov. 25, 2024 /PRNewswire/ -- BetMGM, a leading iGaming and sports betting operator, today announced a major enhancement to its customer experience by consolidating BetMGM Reward Points (BRPs) into a single account.
Positive
Zacks Investment Research
4 weeks ago
Here's Why Investors Should Retain MGM Resorts Stock for Now
MGM focuses on strategic partnerships and international expansion to drive growth. However, high costs are a concern.
Neutral
PRNewsWire
1 month ago
Cisco and MGM Resorts International Sign Multi-Year Agreement
Bringing the Next Generation of Guest Experience to Las Vegas and Beyond News Summary: Global gaming and entertainment company MGM Resorts International signs a Whole Portfolio Agreement with Cisco to deliver next-generation guest experiences. Agreement gives MGM Resorts access to much of Cisco's software portfolio and Customer Experience (CX) services.
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