5 Biggest Betting Companies In The World

4. MGM Resorts International (NYSE:MGM)

Market Capitalization: $14 Billion

MGM Resorts International (NYSE:MGM) is a Las Vegas-based hospitality and entertainment firm that runs several destination resorts. It is one of the most rapidly expanding online betting firms in the world. Founded in 1986, the firm earns over $11 billion in revenue annually. Their significant casino properties include MGM Grand Garden Arena, Luxor, Mandalay Bar, Bellagio and Excalibur. 

At the end of the third quarter of 2022, 53 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in MGM Resorts International (NYSE:MGM), up from 46 the preceding quarter worth $1.14 billion.

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and MGM Resorts International (NYSE:MGM) was one of them. Here is what the fund said:

“At this stage, we believe several public real estate companies offer compelling long-term return prospects that, in some cases, may include a trifecta combination of growth, dividends, and an improvement in valuation. Examples of public real estate companies that are attractively valued includes: MGM Resorts International (NYSE:MGM). Leading global casino and entertainment company. At its recent price of $40 per share, we believe the company is valued at a significant discount to our reasonable $60 per share estimate of the sum-of-the-parts value of its business.”