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 ...

Core Viewpoint - MGM Resorts International is positioned as a relatively strong player in the struggling casino sector, with a year-to-date decline of only 3.67% compared to larger declines in competitors like Las Vegas Sands and Wynn Resorts [1] Group 1: Company Overview - MGM operates 18 properties in the U.S. and Macau, including iconic Las Vegas locations such as Bellagio and Mandalay Bay, with a combined 17% market share in Macau [2] - The company has partnered with Marriott International to launch the MGM Collection, allowing loyalty members to earn points across 16 properties [3] Group 2: Strategic Initiatives - MGM is expanding its online sports betting and iGaming business through its 50% ownership of BetMGM and the acquisition of Tipico's U.S. sportsbook, expected to close in Q3 2024 [4] - The company has added live dealer table games to its online offerings, enhancing the digital gaming experience [5] Group 3: Financial Performance - MGM reported Q1 2024 earnings with EPS of 78 cents, exceeding estimates by 18 cents, and revenues of $4.4 billion, a 13.2% year-over-year increase [7] - Las Vegas Strip resorts generated $2.3 billion in revenue, while MGM China saw a 71% increase in revenues to $1.1 billion [8] Group 4: Market Sentiment and Analyst Ratings - Analysts have shown favorable sentiment towards MGM, with a MarketRank of 4.73 out of 5 and a price target of $54, indicating a potential upside of 26.7% [10] - Recent ratings upgrades from analysts suggest confidence in MGM's digital segment and operations in Las Vegas and China as key growth drivers [10]

JERSEY CITY, N.J., July 2, 2024 /PRNewswire/ -- BetMGM, a leading iGaming and sports betting operator, was recognized as Sports Betting Operator of the Year and Employer of the Year at the EGR North America Awards 2024. The EGR North America Awards, hosted in New York City on June 27, celebrate excellence in the North American online gaming industry and are considered the premier gaming awards.   "Winning two EGR North America Awards is a tremendous honor," said Adam Greenblatt, Chief Executive Officer, Bet ...

Core Viewpoint - MGM Resorts stock is currently trading at $44 per share, approximately 19% below its pre-inflation shock high of $50, but has shown strong recovery in recent quarters due to increased tourist arrivals and spending in Macau [1][2]. Group 1: Stock Performance - MGM stock has increased by 50% from around $30 in early January 2021 to approximately $45 now, compared to a 45% increase in the S&P 500 over the same period [2]. - The stock's returns were 42% in 2021, -25% in 2022, and 33% in 2023, indicating underperformance in 2022 compared to the S&P 500 [2]. - The stock needs to gain about 13% to return to its pre-inflation shock level of $50 per share, with an estimated valuation of around $47 per share, suggesting limited near-term upside due to global economic concerns [3][4]. Group 2: Financial Recovery - MGM's revenues were $5.2 billion in 2020, recovering to $9.7 billion in 2021, $13 billion in 2022, and reaching $16.2 billion in 2023, reflecting a strong recovery trajectory [7]. - The company posted a loss of -$2 per share in 2020, but earnings improved to $3.39 per share in 2023, indicating a significant turnaround [7]. Group 3: Market Context - Tourist arrivals in Macau increased by 79.4% to 8.88 million in Q1 2024, nearing 86% of pre-pandemic levels, contributing to MGM's recovery [1]. - The Federal Reserve has kept interest rates unchanged since August 2023, with potential cuts expected in 2024, which may positively influence market sentiment [5][8].

Group 1 - MGM Resorts International will release its financial results for the second quarter of 2024 after the market closes on July 31, 2024 [1] - A conference call will be held on the same day at 5:00 p.m. Eastern Time to discuss the results, followed by a Q&A session [1] - Supplemental slides will be available on MGM's Investor Relations website prior to the call [1] Group 2 - A replay of the conference call will be accessible until August 7, 2024, with specific dialing instructions provided [2] - MGM Resorts International is a global gaming and entertainment company with a portfolio of 31 unique hotel and gaming destinations [3] - The company operates BetMGM, LLC, a joint venture offering sports betting and online gaming in North America, and is expanding into Asia through opportunities in Japan [3] Group 3 - MGM Resorts is committed to sustainability and aims to make a positive impact on employees, guests, and communities [3] - The company has been recognized as one of FORTUNE® Magazine's World's Most Admired Companies [3] - Contact information for the investment community and news media is provided for further inquiries [4]

MGM Resorts International’s (MGM) subsidiary, LeoVegas Group, is set to acquire the product and technology platform from Tipico Group Ltd constituting the U.S. sportsbook and online casino. Subject to customary closing conditions, this transaction is expected to close in the third quarter of 2024.This acquisition will help LeoVegas operate a purpose-built proprietary sportsbook across all international markets and brands, except those exclusive to the BetMGM JV. This strategic move will ensure LeoVegas offe ...

LAS VEGAS, June 24, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced that its subsidiary, LeoVegas Group ("LeoVegas"), has entered into an agreement to acquire the product and technology platform constituting the U.S sportsbook and online casino from Tipico Group Ltd ("Tipico").This acquisition is the second major investment by LeoVegas, following the acquisition of game developer Push Gaming in 2023. The acquisition will allow LeoVegas to operate a ...

MGM Resorts International (MGM) unveiled a strategic partnership with technology leader Playtech. This collaboration aims to provide exclusive live casino content to operators in the iGaming industry.MGM Resorts will stream live casino content, branded as ‘MGM Live,’ directly from the gaming floors of MGM Grand and Bellagio Resort & Casino in Las Vegas. This live content will be available for licensing in regulated markets worldwide outside of the United States. The offerings will include single and double- ...

MediaProduction Sixty percent of Americans plan to take a leisure trip over the next few months. Meeting new people and “digital detoxification” are among the top reasons driving vacations, according to a McKinsey study, as younger generations show a significant growing interest in travel. Airlines forecast carrying a record 271M passengers around the world this summer, from June 1st to August 31st (+6% YoY), and cruise lines project ~34.7M passengers in 2024 (+9% YoY). Major hotels in Las Vegas, the #1 ...

LAS VEGAS and LONDON, June 20, 2024 /PRNewswire/ -- Playtech and MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company"), are today announcing a strategic partnership which will offer new and unique live casino content to operators in the iGaming industry. Streamed directly from the gaming floors of two of MGM Resorts' most iconic Las Vegas Strip properties, the live casino content, branded as "MGM Live," will be available for licensing in regulated markets worldwide, outside of the United St ...