market share of 17 percent<\/a> in the states in which it operates and is on pace to deliver 2020 revenue of $150 million to $160 million.<\/p>\n\u201cLead by its strong portfolio of 13 Vegas properties, one of only three industry Detroit casinos in Michigan, its Borgata resort in New Jersey, a loyalty database of 34 million members, and its mobile platform that has partnered with major professional sports associations, we see MGM capturing a 22% share of this existing revenue opportunity, resulting in $365 million in sports revenue in 2021, or 3.4% of our forecast for its total sales that year,\u201d said Wasiolek.<\/p>\n
The analyst says fair value for MGM stock is $30, of which 10 percent is attributable to iGaming and sports wagering. If that forecast proves accurate, it would represent an upside of nearly 50 percent from current levels.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Caesars Entertainment (NASDAQ:CZR) and MGM Resorts International (NYSE:MGM) are increasing exposure to the rapidly growing domestic sports betting industry. But one analyst argues that the financial market doesn’t yet fully appreciate the operators’ growing footprints in this arena. Through its pursuit of William Hill (OTC:WIMHY), Caesars is viewed as a potentially indomitable force in the […]<\/p>\n","protected":false},"author":46,"featured_media":152132,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,1074],"tags":[],"acf":[],"yoast_head":"\n
Caesars, MGM Sports Betting Exposure Isn't Fully Appreciated, Says Analyst - Casino.org<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n