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In the gambling industry, there isn't a lot of hiding what you are as a company. When Penn National Gaming (NASDAQ: PENN) became a favorite pandemic growth stock in 2020, it was surprising to me as a longtime gambling industry observer. Penn National has traditionally been a well-run company, but it wasn't in a particularly attractive market position versus companies with exposure to the Las Vegas Strip, Macao, or Japan.
Not only is MGM Resorts recovering in Las Vegas, but its online gambling business is also beating the competition in many ways. You can see below that MGM stock has outperformed its biggest rivals in 2021, and that is unlikely to stop if current trends continue. Let's take a look at the quarter and why MGM Resorts is well-positioned to be a great growth stock long-term.