Topic: How To Invest

Q: Hi Pat: Can I please have your opinion on MGM Resorts International? Thanks.

Article Excerpt

A: MGM Resorts International, $39.99, symbol MGM on New York (Shares outstanding: 317.0 million; Market cap: $13.2 billion; www.mgmresorts.com), is a global gaming and entertainment company. It has U.S. and international locations featuring hotels and casinos, meetings and conference spaces, live and theatrical entertainment experiences, and an array of restaurant, nightlife and retail offerings. MGM operates 16 casino properties in the U.S. and, through its 56% controlling interest in MGM China Holdings Ltd., operates two casino properties in Macau. The company’s 50/50 venture, BetMGM, offers U.S. sports betting and online gaming, while its LeoVegas AB subsidiary offers similar services in several jurisdictions throughout Europe. It also has a 50% ownership in Osaka IR KK, which plans to develop a resort in Osaka, Japan. In July 2023, MGM teamed up with Marriott International to let members of the Marriott Bonvoy Loyalty program earn and redeem points at MGM Resorts properties. This licensing deal should increase hotel stays at MGM Resorts. Indeed, the company already…