Analysts on Wall Street project that MGM Resorts (MGM) will announce quarterly earnings of $0.66 per share in its forthcoming report, representing an increase of 11.9% year over year. Revenues are projected to reach $4.18 billion, increasing 6% from the same quarter last year.The consensus EPS estimate for the quarter has been revised 1.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this time ...

NET REVENUE FROM OPERATIONS OF $1.0 BILLION IN FIRST HALF OF 20241,2Momentum accelerating in a year focused on investment and strategic execution to drive future growthLAS VEGAS, July 29, 2024 /PRNewswire/ -- BetMGM, LLC ("BetMGM"), one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International (NYSE: MGM) ("MGM Resorts") and Entain plc (LSE: ENT) ("Entain"), is today providing an update on First Half 2024 ("1H 2024") performance.Adam Greenblatt, Chief Ex ...

LAS VEGAS, July 22, 2024 /PRNewswire/ -- BetMGM, LLC ("BetMGM"), one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International (NYSE: MGM) ("MGM Resorts") and Entain plc (LSE: ENT) ("Entain"), will release an update on BetMGM's 1H 2024 performance at 8:30 a.m. Eastern Time (1:30pm UK) on Monday, July 29, 2024. Upcoming datesJuly 31: MGM Resorts International 2Q 2024 ResultsAugust 8: Entain Group 1H 2024 ResultsAbout BetMGMBetMGM is a market-leading sport ...

Core Viewpoint - MGM Resorts International is experiencing a recovery in its cash-producing casinos in Macao, but its stock has underperformed the S&P 500 over the past decade, raising questions about its potential for market-beating returns [1][5]. Company Overview - MGM Resorts owns 31 hotel and gaming destinations globally, with notable properties including the MGM Grand in Las Vegas and casinos in Mississippi, Michigan, and Maryland [2]. - The company's most significant revenue sources are its two casinos in Macao, which have recently begun to recover from pandemic-related impacts, with revenue rising 78% year-over-year to $1.1 billion in Q1 2024 [2][3]. Financial Performance - In Q1 2024, MGM Resorts reported total revenue of $4.4 billion, a 13% increase from the previous year, with Las Vegas resorts contributing $2.3 billion, approximately 52% of total revenue [4]. - The company reported a net income of $217 million in Q1 2024, which was lower than the previous year's performance due to a one-time sale of the Gold Strike Casino Resort [4]. Market Position - MGM Resorts has outperformed competitors like Las Vegas Sands and Wynn Resorts in terms of delivering positive returns over the past decade, but it has significantly underperformed the S&P 500 [4][5]. - The company's price-to-earnings (P/E) ratio is below 18, which is lower than the S&P 500 average of about 24.5, indicating a less attractive valuation compared to its peers [5]. Future Outlook - The recovery in Macao and the planned $10 billion casino complex in Osaka, Japan, expected to open in 2030, could positively impact MGM's long-term focus on Asia [3][7]. - Despite potential recovery, the stock is viewed as one that investors might want to avoid due to its historical underperformance against the S&P 500 and the cyclicality of the economy [6][7].

MGM Resorts International's (MGM) leading sports betting and the iGaming brand, BetMGM, expanded its mobile sports betting service throughout Washington, D.C. This move allows sports fans across the district to use the BetMGM app and earn rewards from MGM Resorts and Marriott Bonvoy.The strategic expansion follows the D.C. Council's approval of its fiscal 2025 budget, which includes opening the digital sports betting market. MGM retains exclusivity around Nationals Park, operating the BetMGM Sportsbook thro ...

They sense great potential in the casino operator's collection of assets.The gaming tables at casino operator MGM Resorts International (MGM -1.26%) are getting crowded. That's because a clutch of institutional investors have recently placed chips on the company through investments in its stock. Let's take a brief look at who these players are and a longer one at what's likely piquing their interest in the company.All in on the lionNo less than six entities have piled into MGM in recent months. According to ...

Operator to continue community investment throughout the DMV   Click here to download creative assets WASHINGTON, July 17, 2024 /PRNewswire/ -- BetMGM, a leading iGaming and sports betting operator, today launched mobile sports betting operations across Washington, D.C. Previously accessible within only a two-block radius of the sportsbook's location at Nationals Park, sports fans district-wide now have access to the BetMGM sports wagering experience along with rewards tied to both MGM Resorts and Marriott ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider MGM Resorts (MGM) . This company, which is in the Zacks Gaming industry, shows potential for another earnings beat.When looking at the last two reports, this casino and resort operator has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 40.77%, on average, in the last two quarters ...

Investors interested in Gaming stocks are likely familiar with MGM Resorts (MGM) and Churchill Downs (CHDN) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Sty ...

MGM Resorts International TodayMGMMGM Resorts International$43.17 +0.13 (+0.30%) 52-Week Range$34.12▼$51.35P/E Ratio16.60Price Target$54.66Add to WatchlistCasino stocks are the proverbial “rough neighborhood” in 2024, with the major players like Las Vegas Sands Co. NYSE: LVS and Wynn Resorts Ltd. NASDAQ: WYNN trading down 14.4% and 9.22%, respectively. The best house in the rough neighborhood could be MGM Resorts International NYSE: MGM, whose shares are down 3.67% YTD. The consumer discretionary sector has ...