5 Best Gambling Stocks to Buy Now

This article presents an overview of the 5 Best Gambling Stocks to Buy Now. For a detailed overview of such stocks, read our article, 19 Best Gambling Stocks to Buy Now.

5. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Investors: 45

In December 2023, UBS published its list of its high conviction picks from the MSCI All Country World Index (NASDAQ:ACWI). MGM Resorts International (NYSE:MGM) made it to the list. Here is what UBS analyst Rudolf Leemann said about these stocks:

“After dipping more than 10% between August and October, global equities strongly rebounded in November amid hopes central banks will pivot to a more dovish stance. Lower market rates and resilient earnings are likely to support the asset class going forward, but a lot of optimism seems to already be priced in and macroeconomic risks are more skewed to the downside.”

Longleaf Partners Fund stated the following regarding MGM Resorts International (NYSE:MGM) in its fourth quarter 2023 investor letter:

“MGM Resorts International (NYSE:MGM) & Hyatt – Hospitality companies MGM Resorts and Hyatt were both strong performers in the fourth quarter and for the year, outperforming expectations that the post-COVID travel rebound would ease in 2023. Casino and online gaming company MGM saw double-digit revenue growth and strong 2023 bookings in Las Vegas in the first half, which moderated in the second half but remained solid. A cybersecurity attack negatively impacted 3Q results, but MGM does not expect the $100 million hit to have a material effect on its financial condition and operational results for the year. MGM bought back discounted shares at a 15% annualized rate and authorized another $2 billion buyback in 4Q, which represents another 15% of the company.”