Yahoo Finance Live anchors discuss the moves in casino stocks after Macau license renewals.
MGM Resorts International (MGM) and Entain Plc's joint venture BetMGM continues to expand its presence.
Like many companies, MGM Resorts International (NYSE: MGM) hasn't escaped the 2022 bear market, which has sent its stock price down 21% year to date. In the third quarter, MGM's net revenue grew 26% year over year to $3.4 billion based on continued strength on the Las Vegas strip, where the company's sales jumped 67% against the prior-year period. With $2.3 billion in quarterly revenue, MGM's Las Vegas segment has far surpassed the $1.5 billion generated during this time in 2019, before the pandemic.