MGM Resorts International (MGM)

• Market cap: $8.79B
• 1 day: -1.07%
• 5 days: 2.31%
• 1 month: 6.14%
• 3 months: -8.94%
• 6 months: -24.03%
• Year to date: -6.54%
• 1 year: -20.23%
• 5 years: 86.93%
• 10 years: 48.75%
• 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 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

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

• Low target: $36 14% upside
• Avg. target: $47 49% upside
• High target: $60 91% upside

9 analyst ratings

• positive: 8 89%
• neutral: 1 11%
• negative: 0 0%

Truist Securities Barry Jonas 34% 1-year accuracy 13 / 38 met price target	43% upside $45	Buy Maintained	23 Apr 2025
Barclays Brandt Montour 41% 1-year accuracy 36 / 88 met price target	30% upside $41	Overweight Maintained	22 Apr 2025
JMP Securities Jordan Bender 18% 1-year accuracy 10 / 56 met price target	43% upside $45	Market Outperform Maintained	17 Apr 2025
Morgan Stanley Stephen Grambling 45% 1-year accuracy 15 / 33 met price target	14% upside $36	Equal-Weight Maintained	16 Apr 2025
Macquarie Chad Beynon 28% 1-year accuracy 15 / 53 met price target	59% upside $50	Outperform Maintained	13 Feb 2025