MGM Resorts International (MGM)

In July 2025, MGM noted choppiness in the Las Vegas market, but regional domestic operations were stable, and MGM China achieved record results. August 2025 saw confidence in European and Asian ventures, with a revenue increase in MGM Digital. In September 2025, MGM contracted for a solar facility. October 2025 involved the sale of MGM Northfield Park and withdrawal of a casino application in Yonkers. November 2025 saw downgrades from Citigroup and Wells Fargo, while UBS maintained a Hold rating. In December 2025, MGM entered a new branding agreement with MGM China and rebranded NoMad Las Vegas. January 2026 saw a downgrade from Truist Securities and an initiation of a Buy rating from Texas Capital, with the stock price increasing by 6.56% between January 13, 2025, and January 9, 2026.

Demand for MGM Resorts International's products is influenced by the cyclical nature of the travel and leisure industry and can be affected by consumer sentiment, economic downturns, and the convention calendar. Fluctuations in demand have been observed, and the company anticipates a rebound in Las Vegas demand starting in 2026 due to a stronger convention calendar.

MGM Resorts International operates in the Consumer Cyclical sector, focusing on Travel & Leisure, Hospitality and Gaming, and Casino Hotels. The business model integrates hospitality, gaming, and entertainment, generating revenue from casino operations, hotel accommodations, entertainment, food and beverage services, and retail. BetMGM, its online gaming and sports betting platform, operates in North America and Europe.

MGM Resorts International has properties across the United States and internationally. In the United States, properties include those on the Las Vegas Strip such as Bellagio and MGM Grand, and other locations like Beau Rivage in Mississippi and MGM National Harbor in Maryland. Internationally, MGM has properties in Macau, China through MGM China, joint ventures in China, and is developing MGM Osaka in Japan, set to open in 2030. Through LV Lion Holding Limited, it offers sports betting and online gaming in Europe, including the UK and Netherlands.

MGM Resorts International's brand has faced challenges, including safety incidents and negative publicity, leading to customer dissatisfaction and declining morale. However, the brand has shown strength, highlighted by a new branding agreement with MGM China, where market share has increased.

MGM Resorts International is a publicly traded company with ownership distributed among numerous shareholders. Institutions hold a significant portion of shares, with key institutional shareholders including Davis Selected Advisers and Vanguard Group Inc. Keith A. Meister is the largest individual shareholder, while Tracinda Corp and IAC Inc are major shareholders.