MGM Resorts International
About: MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 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 62% of total EBITDAR in 2023. MGM also owns US regional assets, which represented a low 20s share of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). 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: 63,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
9% more funds holding in top 10
Funds holding in top 10: 11 [Q2] → 12 (+1) [Q3]
0.35% more ownership
Funds ownership: 66.24% [Q2] → 66.59% (+0.35%) [Q3]
6% less funds holding
Funds holding: 715 [Q2] → 674 (-41) [Q3]
14% less capital invested
Capital invested by funds: $9.23B [Q2] → $7.91B (-$1.32B) [Q3]
27% less repeat investments, than reductions
Existing positions increased: 210 | Existing positions reduced: 286
29% less first-time investments, than exits
New positions opened: 77 | Existing positions closed: 109
33% less call options, than puts
Call options by funds: $282M | Put options by funds: $420M
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
Macquarie Chad Beynon 63% 1-year accuracy 25 / 40 met price target | 26%upside $50 | Outperform Maintained | 13 Feb 2025 |
Citigroup George Choi 0% 1-year accuracy 0 / 5 met price target | 26%upside $50 | Buy Maintained | 13 Feb 2025 |
Wells Fargo Daniel Politzer 53% 1-year accuracy 31 / 58 met price target | 16%upside $46 | Overweight Maintained | 13 Feb 2025 |
JMP Securities Jordan Bender 47% 1-year accuracy 27 / 57 met price target | 26%upside $50 | Market Outperform Reiterated | 13 Feb 2025 |
Barclays Brandt Montour 56% 1-year accuracy 46 / 82 met price target | 18%upside $47 | Overweight Maintained | 13 Feb 2025 |
Financial journalist opinion
Based on 24 articles about MGM published over the past 30 days









