MGM Resorts draws increased institutional investment
MGM Resorts International (NYSE: MGM), a prominent operator of global casino resorts, has seen a notable influx of investments from major institutional firms in recent months. The company's robust revenue growth and promising expansion into new markets fuelled the growing interest from investors.
Key growth highlights include MGM China's significant 71% year-over-year revenue increase, primarily driven by its operations in Macau. MGM Resorts International's venture into the online and mobile betting market through BetMGM, a joint initiative with UK-based Entain, has also shown impressive growth. In 2023, BetMGM's revenue surged by 36% year-on-year, nearing 2 billion USD. The anticipated development of a resort in Japan is expected to catalyse MGM's growth further, making it an attractive prospect for investors looking for dynamic growth in the hospitality and gaming sectors.
Technical analysis of MGM Resorts International (NYSE: MGM)
Exploring potential trading opportunities based on the current technical setup of MGM Resorts' stock:
Investors should keep a close watch on MGM Resorts International, especially in light of the increasing institutional interest and the company's strategic expansion efforts. The stock's performance, combined with the company's operational growth, could present considerable opportunities for market participants.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Key growth highlights include MGM China's significant 71% year-over-year revenue increase, primarily driven by its operations in Macau. MGM Resorts International's venture into the online and mobile betting market through BetMGM, a joint initiative with UK-based Entain, has also shown impressive growth. In 2023, BetMGM's revenue surged by 36% year-on-year, nearing 2 billion USD. The anticipated development of a resort in Japan is expected to catalyse MGM's growth further, making it an attractive prospect for investors looking for dynamic growth in the hospitality and gaming sectors.
Technical analysis of MGM Resorts International (NYSE: MGM)
Exploring potential trading opportunities based on the current technical setup of MGM Resorts' stock:
- Timeframe: Daily (D1)
- Current trend: the stock is currently in a global uptrend
- Resistance level: 47.00 USD
- Support level: 42.60 USD
- Potential downtrend target: if the stock enters a downtrend, a possible target could be set at 37.50 USD
- Short-term target: if the uptrend continues and the stock breaks through resistance at 47.00 USD, a short-term target could be set at 51.00 USD
- Medium-term target: With sustained upward momentum, the price might aim for 56.50 USD
Investors should keep a close watch on MGM Resorts International, especially in light of the increasing institutional interest and the company's strategic expansion efforts. The stock's performance, combined with the company's operational growth, could present considerable opportunities for market participants.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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