Forget Las Vegas Sands, MGM Resorts Is a Better Casino Stock
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Macao casinos are still weighed down by the COVID-19 pandemic. Las Vegas resort operators with outsized exposure to the enclave carry more risk than their peers. Some analysts see Las Las as the better bet for a comeback. MGM Resorts is the biggest player on the Strip with a lucky 13 venues.
MGM has casinos in Las Vegas and other properties around the U.S. It also owns hotels, dining facilities, retail establishments, convention centers and golf courses. MGM has exposure to China through its 56% ownership stake in MGM China. Wynn Resorts is even more reliant upon China than Sands.
MGM Resorts saw the potential for sports betting before most others and set itself up to capitalize on its legalization earlier than most. Its BetM MGM sportsbook app attached to the Borgata is the third-largest sportsbooks in New Jersey. Wynn Resort was late to sports gambling, but its WynntBet app has a presence in two states and has secured access in five others.
Forget Las Vegas Sands, MGM Resorts is a better casino stock. The strict social distancing guidelines and reduced capacities required to reopen casinos could keep consumers away from them. Flutter Entertainment's (OTC:PDYPF) FanDuel and DraftKings are far ahead of anyone, owning about three-quarters of the U.S. sports betting market nationally.
