MGM Resorts International

MGM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Macao Gaming: Geopolitical and US Policy Actions Increase the Risk Premium

Dan Wasiolek

Apr 3, 2025

We have adjusted our cost of equity assumptions for Wynn, Las Vegas Sands, and MGM due to their exposure to Macao, increasing geopolitical tensions between the US and China, and to harmonize with our assumptions for the Hong Kong-listed shares.

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MGM Resorts International

Macao Gaming: Geopolitical and US Policy Actions Increase the Risk Premium

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