MGM Resorts International
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 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
1.1% more ownership
Funds ownership: 66.02% [Q3] → 67.11% (+1.1%) [Q4]
4% less first-time investments, than exits
New positions opened: 101 | Existing positions closed: 105
2% less funds holding
Funds holding: 678 [Q3] → 663 (-15) [Q4]
10% less call options, than puts
Call options by funds: $268M | Put options by funds: $298M
12% less capital invested
Capital invested by funds: $7.84B [Q3] → $6.92B (-$921M) [Q4]
34% less repeat investments, than reductions
Existing positions increased: 183 | Existing positions reduced: 276
50% less funds holding in top 10
Funds holding in top 10: 12 [Q3] → 6 (-6) [Q4]
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
Macquarie Chad Beynon 38% 1-year accuracy 23 / 60 met price target | 47%upside $48 | Outperform Maintained | 2 May 2025 |
Stifel Steven Wieczynski 46% 1-year accuracy 17 / 37 met price target | 35%upside $44 | Buy Maintained | 1 May 2025 |
Barclays Brandt Montour 46% 1-year accuracy 39 / 85 met price target | 32%upside $43 | Overweight Maintained | 1 May 2025 |
Susquehanna Joseph Stauff 42% 1-year accuracy 16 / 38 met price target | 53%upside $50 | Positive Maintained | 1 May 2025 |
Truist Securities Barry Jonas 38% 1-year accuracy 14 / 37 met price target | 38%upside $45 | Buy Maintained | 23 Apr 2025 |
Financial journalist opinion
Based on 19 articles about MGM published over the past 30 days









