Is This High-Rolling Casino Stock a Smart Bet After Record Revenue Results?
As the casino and hospitality industry bounces back from the challenges of the pandemic, MGM Resorts International (NYSE: MGM) continues to prove its strength. Record first-quarter earnings and innovative strategic expansions, including a lucrative partnership with Marriott International (NASDAQ: MAR), highlight its robust recovery and growth prospects. There's every indication the company might still be a smart bet for long-term investors.
MGM Resorts International continues to make significant strides financially, evidenced by record revenue results in the first quarter of this year. Consolidated net revenue from its diverse portfolio of resorts and casinos rose 13% year over year to $4.4 billion. That growth came primarily from the company's strong showing in Las Vegas and the continued ramp-up of operations at MGM China.
Second-quarter results proved similarly promising, coming in at $4.3 billion, 10% more than the same quarter last year. A focus on international operations helps bolster the company against economic headwinds in other regions. Ongoing expansion plans could have lasting effects.
Source Fool.com
Marriott International Inc. Aktie
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