#4 - MGM Resorts International (NYSE:MGM)
For a different play on the gaming sector, you should consider MGM Resorts International (NYSE:MGM). The return of live sports means that sportsbooks are open. This has been a catalyst for gaming stocks like DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN).
However, unlike these two stocks, MGM stock is down 35% for the year. Some of that is due to the fact that MGM operates a physical network of casino properties that were shut down. However, MGM shouldn’t be overlooked in the sports betting arena.
Prior to the pandemic, MGM was just launching its BetMGM service. Talk about horrible timing. However, the company gets another chance to launch the product at a time when casino properties are open again. And more importantly, the sports calendar is full.
The National Football League is in full swing. And recently the Big Ten and Pac-12 football conferences announced they will be playing abbreviated college football schedules, which should add additional betting interest.
With DKNG stock up nearly 400% and PENN stock up over 150%. MGM represents a low-risk option that could deliver a high reward.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Read More - Current Price
- $41.03
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $54.83 (33.6% Upside)
