Where Will MGM Resorts Stock Be in 5 Years?

MGM Resorts (NYSE: MGM) was a post-pandemic winner because it benefited from the resurgence of America's in-person entertainment venues after the lockdowns and other movement restrictions. However, with Las Vegas gambling near its peak, the company must look to new international markets to pioneer the next leg of long-term growth. Let's explore what the next five years could have in store. MGM's third-quarter earnings highlight the impressive momentum it has enjoyed since the end of the COVID-19 restrictions. Companywide revenue increased 5% year over year to a record $4.2 billion, helped by the easing of health restrictions in the Chinese gaming hub Macau, which was the last of MGM's major segments to recover past 2019 levels.MGM has exposure in China through its subsidiary MGM Macau, which partly owns high-profile resorts such as the MGM Cotai and MGM Macau, alongside local partners. It is also the largest casino operator in Las Vegas and boasts a portfolio of regional casino resorts in small and medium-sized cities across the U.S. The company's diversification helps to protect it from weakness in any particular jurisdiction.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool