{"id":254333,"date":"2023-01-18T14:46:56","date_gmt":"2023-01-18T20:46:56","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=254333"},"modified":"2023-01-18T17:14:06","modified_gmt":"2023-01-18T23:14:06","slug":"mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/","title":{"rendered":"MGM Top Casino Stock Pick at Macquarie Based on Attractive Las Vegas Calendar"},"content":{"rendered":"<p>MGM Resorts International (NYSE: MGM) could be a star among casino stocks in 2023, owing in part to an eventful Las Vegas calendar.<\/p>\n<figure id=\"attachment_254335\" aria-describedby=\"caption-attachment-254335\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-254335\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1-142x65.jpg\" alt=\"casino stock\" width=\"1200\" height=\"551\" \/><figcaption  id=\"caption-attachment-254335\"class=\"text-description\">MGM Grand on the Las Vegas Strip. MGM is Macquarie&#8217;s top casino stock idea for 2023. (Image: <em>Luxury Lifestyle Magazine<\/em>)<\/figcaption><\/figure>\n<p>In a note to clients on Wednesday, Macquarie analyst Chad Beynon noted midweek Strip occupancy could dip a bit this year. But he said the return of more conventions and meetings, as well as a strong list of sporting events could support 2023 revenue upside for Strip operators such as MGM and Caesars Entertainment (NASDAQ: CZR).<\/p>\n<p>Those two operators, and some others, could also benefit from the return of tourists from the Asia-Pacific, namely China.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>We believe analysts have underestimated international demand (both leisure and VIP from Far East) and, in our view, this could help growth against record quarters. Our \u2018Looks\u2019 report has shown 80% correlations with gaming revenue and it bodes well for upcoming demand,\u201d<\/strong> wrote Beynon.<\/p><\/blockquote>\n<p>China recently eased coronavirus travel restrictions. Some analysts believe that could lead to more arrivals from that country to major US cities, <a href=\"https:\/\/www.casino.org\/news\/harry-reid-airport-could-be-supported-by-renewed-china-travel\/\">including Las Vegas<\/a>, Los Angeles, and New York, among others.<\/p>\n<h2>MGM Has \u2018Right Mix\u2019<\/h2>\n<p>One of the reasons Beynon is bullish on MGM is that the Bellagio operator has a compelling mix of exposures and isn\u2019t dependent on a single jurisdiction or theme.<\/p>\n<p><strong>\u201cMGM is our top pick, given the right mix of exposure (58% Vegas, 25% Regional, 11% Macau, 6% Digital),\u201d added the analyst.<\/strong><\/p>\n<p>He also lauded moves made by MGM last year, including selling the Mirage\u2019s operating rights and acquiring <a href=\"https:\/\/www.casino.org\/news\/mgm-closes-acquisition-of-cosmopolitan-las-vegas\/\">the comparable rights to Cosmopolitan<\/a>, which allows the operator to increase its exposure to a higher-end client base.<\/p>\n<p>The Macquarie analyst highlights other MGM-adjacent opportunities that could support upside in the shares this year. Those include BetMGM and a rebound in Macau, which is relevant because MGM owns 56% of MGM China.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>For digital, we expect for BetMGM to grow ~15%+ in \u201923 and continue to believe there are opportunities to solve for the 50\/50 stake. With one of the strongest balance sheets, supportive shareholders, and a goal to be a global digital leader, we expect this to be a priority. Lastly, we believe MGM China (evidenced by MGM China early \u201922 stock performance) is not being appropriately reflected in the stock,\u201d<\/strong> added Beynon.<\/p><\/blockquote>\n<p>He has an \u201coutperform\u201d rating on the Luxor operator with a $52 price target, implying more than 30% upside from the January 17 close.<\/p>\n<h2>Bullish on Small-Cap Casino Stocks, Too<\/h2>\n<p>Beynon is also constructive on select small-cap casino stocks. In alphabetical order, that group is Century Casinos (NASDAQ: CNTY), Everi Holdings (NYSE: EVRI), GAN Ltd. (NASDAQ: GAN), International Game Technology (NYSE: IGT), and PlayAGS (NYSE: AGS).<\/p>\n<p><strong>Those names, all of which sport market values below $2 billion, are <a href=\"https:\/\/www.casino.org\/news\/century-inspired-among-value-gaming-equity-ideas-for-2023\/\">considered deep-value ideas<\/a>. Colorado-based Century is the only casino operator in the quintet.<\/strong><\/p>\n<p>\u201cAbsent CNTY and GAN, we are modeling flat to low single-digit growth for each of the names in \u201923 but importantly, view negative estimate revision risk as low, given the nature of their businesses. As for CNTY and GAN, we are estimating healthy growth in the near term driven by announced deals that need to be closed\/recognized,\u201d concluded Beynon.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM Resorts International (NYSE: MGM) could be a star among casino stocks in 2023, owing in part to an eventful Las Vegas calendar. In a note to clients on Wednesday, Macquarie analyst Chad Beynon noted midweek Strip occupancy could dip a bit this year. But he said the return of more conventions and meetings, as [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":254335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,81886],"tags":[81897,81903,23],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MGM Could Be Winning Casino Stock Idea, Says Macquarie Analyst<\/title>\n<meta name=\"description\" content=\"MGM has makings of 2023 casino stock winner, according to Macquarie.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Could Be Winning Casino Stock Idea, Says Macquarie Analyst\" \/>\n<meta property=\"og:description\" content=\"MGM has makings of 2023 casino stock winner, according to Macquarie.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-18T20:46:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-18T23:14:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1368\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/\",\"name\":\"MGM Could Be Winning Casino Stock Idea, Says Macquarie Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg\",\"datePublished\":\"2023-01-18T20:46:56+00:00\",\"dateModified\":\"2023-01-18T23:14:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM has makings of 2023 casino stock winner, according to Macquarie.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg\",\"width\":1368,\"height\":628,\"caption\":\"MGM Grand Las Vegas. The operator's credit rating was affirmed at junk status by Moody's Investors Service. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MGM Could Be Winning Casino Stock Idea, Says Macquarie Analyst","description":"MGM has makings of 2023 casino stock winner, according to Macquarie.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/","og_locale":"en_US","og_type":"article","og_title":"MGM Could Be Winning Casino Stock Idea, Says Macquarie Analyst","og_description":"MGM has makings of 2023 casino stock winner, according to Macquarie.","og_url":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-01-18T20:46:56+00:00","article_modified_time":"2023-01-18T23:14:06+00:00","og_image":[{"width":1368,"height":628,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/","url":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/","name":"MGM Could Be Winning Casino Stock Idea, Says Macquarie Analyst","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg","datePublished":"2023-01-18T20:46:56+00:00","dateModified":"2023-01-18T23:14:06+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"MGM has makings of 2023 casino stock winner, according to Macquarie.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/mgm-could-be-winning-casino-stock-idea-says-macquarie-analyst\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/MGMG-1.jpg","width":1368,"height":628,"caption":"MGM Grand Las Vegas. The operator's credit rating was affirmed at junk status by Moody's Investors Service. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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