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Opinions Stan Wong
MGM Resorts InternationalMGMTOP PICKMar 09, 2017
Stan WongOwned
$25.43
Stock price when the opinion was issued
$47.00
As of Jun 18, 2026. Market Open.
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BUY
Allan Tong’s Discover Picks If you still like gambling stocks, then consider MGM which was has only 12% exposure to Macau. It reported Q3 a month ago and admittedly it was mixed. Earnings missed but revenues beat. MGM’s engines of growth were its casinos as well as BetMGM and sports betting. MGM China’s revenues fell 69.7% YOY, mainly due to Covid, however Vegas revenues soared 66.6% YOY, helped by the opening of the Aria and Cosmopolitan resort-casinos. Quarterly revenue grew nearly 30% YOY. Read Between Safety and Risk: 3 Safe and Gambling Stocks for our full analysis.
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BUY
Allan Tong’s Discover Picks MGM made waves before last Christmas when it sold its Mirage Hotel & Casino to Hard Rock for $1.08 billion as part of its “asset-lite” strategy, which includes devoting more capital to its online sport betting operations. Therefore, companies like MGM can operate sports betting but can offset those high costs through their other operations, like casinos and hotels. Since the deal, MGM shares have gone sideways, trading between $40-46, though off 52-week highs. Sure, Covid did the casinos no favours, though MGM endured it relatively well by suffering only a $1.5 billion cash burn. (In 2019, MGM boasts $12.96 billion in net revenues, $1.8 billion in operating cash flow and a 14% cash flow margin.) Read Battle of the stocks: 2 Sports Gambling Stocks for our full analysis.
Stockchase DiscoverOwned
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BUY
Like Wynne, the chart has made a golden cross in October, a definite bullish sign. The casino stocks indicate what the markets will be like in 6 months. When we revert to normal, tourism will bounce back and gambling with have a huge year. The country is stir crazy and desperately wants a vacation, which will happen in the second half of 2021. This is more of a vaccine play vs. its peers like Wynne.
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PAST TOP PICK
(A Top Pick Nov 19/19, Up 2%) Two days ago, it was up 12%, but the coronavirus has really pressured this. Buy this on any pullback.
Elliott FishmanOwned
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TOP PICK
2018 was awful for casino stocks, but now it is poking up. He sees $40 easy and wouldn't sell it to that price. (Analysts’ price target is $34.61)
Elliott FishmanOwned
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This owns casino resorts in the US, mainly Las Vegas, as well as China and Dubai. They are expanding into other parts of the US as well as Asia. This had been doing very well, but had a bad quarter, and the stock dropped to the 200-day moving average. Looking at the macro picture with a recovery in the global economy, the properties in the US and China should continue to do well. Shares are trading about 10X enterprise value over EBITDA, which is a discount to its main competitors. Dividend yield of 1.71%. (Analysts’ price target is $33.)