MGM Resort's (MGM) BetMGM expects to be EBITDA positive in the second half of 2023.
The stock market has thrown out MGM Resorts (NYSE: MGM), Verizon (NYSE: VZ), and Coinbase (NASDAQ: COIN) recently, but I think that's a mistake. The U.S. shutdowns didn't last long, but restrictions in Macao have lasted for nearly three years. As personal and business travel in the U.S. reopened, Las Vegas made a quick recovery.
MGM Resorts' (MGM) emphasis on omnichannel growth prospects bodes well. However, a decline in traffic from pre-pandemic levels is a concern.