MGM Resorts International (MGM)

• Market cap: $8.64B
• 1 day: -4.25%
• 5 days: -1.40%
• 1 month: -9.08%
• 3 months: 5.21%
• 6 months: -12.47%
• Year to date: -5.73%
• 1 year: -21.71%
• 5 years: 63.14%
• 10 years: 65.00%
• Sector: Consumer Discretionary
• Industry: Resorts & Casinos

About: MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 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 59% of total EBITDAR in 2024. MGM also owns US regional assets, which represented a low 20s share of 2024 EBITDAR (MGM's Macao EBITDAR was 21% of the total in 2024). 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: 78,000

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

50% more funds holding in top 10

Funds holding in top 10: 6 [Q4 2024] → 9 (+3) [Q1 2025]

2.5% less ownership

Funds ownership: 67.17% [Q4 2024] → 64.67% (-2.5%) [Q1 2025]

8% less funds holding

Funds holding: 667 [Q4 2024] → 611 (-56) [Q1 2025]

21% less capital invested

Capital invested by funds: $6.92B [Q4 2024] → $5.47B (-$1.45B) [Q1 2025]

26% less repeat investments, than reductions

Existing positions increased: 184 | Existing positions reduced: 247

29% less call options, than puts

Call options by funds: $207M | Put options by funds: $291M

36% less first-time investments, than exits

New positions opened: 78 | Existing positions closed: 122

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $36 13% upside
• Avg. target: $44 40% upside
• High target: $50 58% upside

7 analyst ratings

• positive: 6 86%
• neutral: 1 14%
• negative: 0 0%

Macquarie Chad Beynon	51% upside $48	Outperform Maintained	2 May 2025
Stifel Steven Wieczynski	39% upside $44	Buy Maintained	1 May 2025
Barclays Brandt Montour	36% upside $43	Overweight Maintained	1 May 2025
Susquehanna Joseph Stauff	58% upside $50	Positive Maintained	1 May 2025
Truist Securities Barry Jonas	42% upside $45	Buy Maintained	23 Apr 2025