Key Takeaways:
- Genting’s Resorts World New York City and MGM Empire City lead the race for New York casino licenses this year, with hefty application fees and strategic expansion plans.
- MGM Resorts International (NYSE: MGM) shows a promising potential upside of 82.58% based on the current average analyst price target.
- The GuruFocus GF Value estimates a substantial 142.96% upside, marking it a stock to watch.
Genting’s Resorts World New York City and MGM’s Empire City are at the forefront of the competition for securing casino licenses in New York this year. These operators benefit from their strong market presence and assertive growth strategies. Each license requires a minimum $500 million investment, and the application window remains open until June 2025, with final decisions anticipated by December 2025.
Wall Street Analysts Forecast
According to projections from 19 financial analysts, MGM Resorts International (MGM, Financial) is expected to reach an average price target of $49.04. The estimates range from a high of $60.00 to a low of $37.00, indicating a potential upside of 82.58% from the current stock price of $26.86. Investors can explore more detailed estimates on the MGM Resorts International (MGM) Forecast page.
The collective recommendation from 22 brokerage firms places MGM Resorts International at an average rating of 2.0, which corresponds to an “Outperform” status. This rating scale spans from 1 to 5, with 1 representing a Strong Buy and 5 indicating a Sell.
GuruFocus GF Value Insight
GuruFocus’ proprietary GF Value metric suggests MGM Resorts International (MGM, Financial) could achieve a value of $65.26 in one year, offering a noteworthy upside of 142.96% from its current trading price of $26.86. This fair value estimate reflects historical trading multiples and takes into account both past business growth and projected future performance. Further information is accessible on the MGM Resorts International (MGM) Summary page.
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