MGM Stock Recent News

Strategic alliance pairs MGM Resorts' gaming expertise with Grupo Globo's superior reach and consumer knowledge in the Brazilian market LAS VEGAS , Aug. 15, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") and Grupo Globo, Latin America's largest media group, today announced the formation of a new venture to seek a sports betting and iGaming license in Brazil. If its license is approved later this year, the new venture will launch in Brazil in early 2025 under the BetMGM brand, bringing a responsible, best-in-class betting platform to one of the newest and fastest-growing regulated markets in the world.

MGM is an industry giant with a reasonable debt load and a global vision that some investors struggle to understand. Management under Bill Hornbuckle has shown resilience through crises and strategic acquisitions, positioning the company for future growth. Despite concerns about debt and global strategy, analysts see MGM as undervalued with potential for significant upside based on valuations and financial stability.

Over the years, gaming and casino stocks have been under varying degrees of pressure. Some traditional casino stocks have dealt with macro headwinds and increased competition from their digital-only rivals.

MGM Resorts is generating cash and buying back stock, so why is the market worried?

NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. (NASDAQ: INSE), a leading provider of B2B gaming content, technology, hardware, and services, and BetMGM, a leading iGaming and sports betting operator, announced today that the innovative Hybrid Dealer® game MGM Bonus City is now available in Michigan. The game debuted in October 2023 in New Jersey and is available exclusively at BetMGM Casino.

Revenue and earnings both topped expectations for the second quarter of 2024. Investors are worried about weaker demand this year during the F1 race.

Shares of hotel and casino operator MGM Resorts International (MGM) dropped sharply Thursday after the company's top executive mentioned lackluster bookings for a big Formula 1 race-car event coming to Las Vegas in November.

@Morningstar's Dan Wasiolek says DraftKings (DKNG) and FanDuel are share gainers in the sports betting space, while MGM (MGM) seems to be weakening in the digital space. He and @Macquarie's Chad Beynon talk about how visitation growth in Vegas left its mark on the markets.

MGM Resorts' (MGM) second-quarter top line reflects strong contributions from MGM China. Also, growth in Las Vegas and a strategic partnership with Marriott added to the positives.

MGM Resorts International (NYSE:MGM ) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Andrew Chapman - Director of Investor Relations Jonathan Halkyard - Chief Financial Officer William Hornbuckle - Chief Executive Officer and President Gary Fritz - President, MGM Resorts International Interactive Corey Sanders - Chief Operating Officer Hubert Wang - COO and President, MGM China Holdings Conference Call Participants Joseph Greff - JPMorgan Shaun Kelley - Bank of America Carlo Santarelli - Deutsche Bank David Katz - Jefferies Stephen Grambling - Morgan Stanley Brandt Montour - Barclays Daniel Politzer - Wells Fargo Barry Jonas - Truist Securities John DeCree - CBRE Robin Farley - UBS Chad Beynon - Macquarie Steven Wieczynski - Stifel Jordan Bender - Citizens JMP Operator Good afternoon, everyone, and welcome to the MGM Resorts International Second Quarter 2024 Earnings Conference Call. Joining the call from the company today are Bill Hornbuckle, Chief Exec