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, 15 Best Gambling Stocks to Buy Now.

5. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Investors: 45

With 45 hedge fund stakeholders and a strong position in the industry, MGM Resorts International (NYSE:MGM) is one of the best gambling stocks to buy according to hedge funds. Some notable hedge funds having stakes in the company as of the end of 2023 are Keith Meister’s Corvex Capital, Ken Fisher’s Fisher Asset Management and Mason Hawkins’ Southeastern Asset Management.

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.”