Advertisement
UK markets closed
  • FTSE 100

    8,252.91
    +29.57 (+0.36%)
     
  • FTSE 250

    21,202.89
    +13.98 (+0.07%)
     
  • AIM

    786.17
    +4.64 (+0.59%)
     
  • GBP/EUR

    1.1903
    +0.0024 (+0.21%)
     
  • GBP/USD

    1.2990
    +0.0075 (+0.58%)
     
  • Bitcoin GBP

    45,192.25
    +694.85 (+1.56%)
     
  • CMC Crypto 200

    1,226.66
    +28.09 (+2.34%)
     
  • S&P 500

    5,615.35
    +30.81 (+0.55%)
     
  • DOW

    40,000.90
    +247.15 (+0.62%)
     
  • CRUDE OIL

    82.18
    -0.44 (-0.53%)
     
  • GOLD FUTURES

    2,416.00
    -5.90 (-0.24%)
     
  • NIKKEI 225

    41,190.68
    -1,033.34 (-2.45%)
     
  • HANG SENG

    18,293.38
    +461.05 (+2.59%)
     
  • DAX

    18,748.18
    +213.62 (+1.15%)
     
  • CAC 40

    7,724.32
    +97.19 (+1.27%)
     

MGM Resorts (MGM) Launches Exclusive Live Casino With Playtech

MGM Resorts International MGM unveiled a strategic partnership with technology leader Playtech. This collaboration aims to provide exclusive live casino content to operators in the iGaming industry.

MGM Resorts will stream live casino content, branded as ‘MGM Live,’ directly from the gaming floors of MGM Grand and Bellagio Resort & Casino in Las Vegas. This live content will be available for licensing in regulated markets worldwide outside of the United States. The offerings will include single and double-zero roulette and baccarat games, all broadcast live from these iconic Las Vegas properties.

MGM Resorts plans to expand the partnership by offering exclusive access to a variety of Playtech games, branded TV game shows, celebrity-hosted trivia shows and unique entertainment experiences synonymous with Las Vegas and MGM Resorts.

The introduction of this new live casino offering, in collaboration with Playtech and broadcast from Bellagio and MGM Grand in Las Vegas, highlights MGM's aim to lead as the top global gaming entertainment company.

This partnership signifies the company's dedication to providing outstanding experiences and extending its global reach to customers. It anticipates that the content, celebrity talent and advanced gaming experience offered under its reputable brands will establish a new benchmark in the industry. Playtech will provide players with on-demand, online access to a mix of immersive entertainment experiences directly from Bellagio and MGM Grand.

Price Performance

Shares of MGM Resorts have lost 6.7% in the year-to-date period against the industry’s 11.4% growth. Although the stock has underperformed the industry, it is likely to benefit from the increased business volume at MGM China and luxury resort properties in Las Vegas. Also, sports betting prospects and development projects and focus on digital strategies bode well.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

ADVERTISEMENT

Sports betting and iGaming are core growth catalysts for the company. BetMGM is expected to generate significant free cash flow in the coming years. LeoVegas is anticipated to begin yielding returns from its investment period. This free cash flow should support future growth opportunities, including international and digital expansion and brick-and-mortar development. BetMGM has a long-term growth target of 20% to 25% in U.S. sports betting and iGaming. Currently, it is on track to achieve its target.

Zacks Rank & Key Picks

MGM Resorts currently carries a Zacks Rank #3 (Hold).

Here are some better-ranked stocks from the Consumer Discretionary sector.

Strategic Education, Inc. STRA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock has gained 51.3% in the past year. The Zacks Consensus Estimate for STRA’s 2024 sales and earnings per share (EPS) indicates an increase of 6.4% and 33.3%, respectively, from year-ago levels.

Royal Caribbean Cruises Ltd. RCL currently sports a Zacks Rank of 1. RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has surged 54.2% in the past year.

The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates growth of 16.8% and 63.8%, respectively, from year-ago levels.

Skechers U.S.A., Inc. SKX presently sports a Zacks Rank of 1. SKX has a trailing four-quarter earnings surprise of 34.1%, on average. The stock has risen 41.9% in the past year.

The consensus estimate for SKX’s 2024 sales and EPS indicates a rise of 10.6% and 16.9%, respectively, from year-ago levels.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report

Strategic Education Inc. (STRA) : Free Stock Analysis Report

Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report

MGM Resorts International (MGM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research