MGM Resorts is showing signs of a Las Vegas Strip turnaround, supported by improving GGR data and recent sell-side upgrades. Q1 earnings were mixed, with a $78M revenue beat but an EPS miss due to non-operational one-offs; underlying trends remain positive. MGM Digital and China segments are growing, while Las Vegas Strip posted its first positive growth in six quarters, fueling optimism for 2024 EBITDA growth.
MGM: Better Vegas Trends Give The Stock Room To Run
Source: Seeking Alpha