MGM Resorts International

MGM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$53.00	Pmx	Xgczkvf

MGM Resorts: Digital Update Targets Notable Long-Term Share Gains, Which Might Be a Tough Bet

Dan Wasiolek

Dec 4, 2023

Entain’s Dec. 4 update on digital gaming company BetMGM, of which no-moat MGM Resorts International owns 50%, included in-line 2023 results but optimistic goals for the long term, in our view. We don’t plan to adjust our $55 fair value estimate for MGM; we view the shares as undervalued, offering investors an opportunity to own a company with a leading physical and digital presence in U.S. gaming.

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