MGM Resorts Intl Option Alert: Apr 17 $38 Puts at the Ask: 8207 vs 14 OI

MGM Resorts Intl Option Alert: Apr 17 $38 Puts at the Ask: 8207 @ $1.61 vs 14 OI; Ref=$38.15

MGM Resorts Intl Option Alert: Jun 20 $42 Calls at the Bid: 2000 vs 620 OI

MGM Resorts Intl Option Alert: Jun 20 $42 Calls at the Bid: 2000 @ $2.9 vs 620 OI; Ref=$40.695

MGM Resorts International 주식 (NYSE: MGM)

MGM Resorts International (NYSE:MGM) 주식

MGM Resorts International

MGM Resorts Intl

MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 59% of total EBITDAR in 2024. MGM also owns US regional assets, which represented a low 20s share of 2024 EBITDAR (MGM's Macao EBITDAR was 21% of the total in 2024). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.

Macau,,China,,November,,30,,2019:,Beautiful,View,Of,Wynn,Hotel.

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Analyst Ratings

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DKNG

WYNN

뱅크오브아메리카 증권 애널리스트 숀 켈리(Shaun C. Kelley)는 월요일(14일) 카지노(게이밍) 섹터에 대한 2025년 1분기 전망을 공유했다. 켈리는 불확실한 마카오 환경을 반영하고, 지역 카지노 트렌드를 반영하며, 최근 디지털 트렌드를 논의하고, 마카오 점유율 추정치를 조정하고, 시장 재평가를 반영하여 목표주가를 낮추기 위해 이미 1분기 추정치를 연간 추정치로 조정한 바 있다. 

카지노 관련 주식, 마카오 리스크와 라스베이거스 데이터 부진으로 전망 하향 조정

Chandler,,Arizona,-,March,03,2023:,Betmgm,Sportsbooks,At,Gila

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MGM 리조트 인터내셔널(NYSE:MGM) 주가가 수요일(12일) 애프터마켓에서 급등하고 있다. 이는 MGM의 4분기 실적이 예상치를 상회한 이후에 나타났다.

MGM 리조트 4분기 실적 발표 후 시간외 11%↑: 매출·EPS 상회, 2025년 &#39;강력한 수요&#39; 등

casino MGM

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After-Hours Center

MGM 리조트 인터내셔널(NYSE:MGM)은 수요일 시장 마감 후 3분기 실적을 발표했다. 이 발표로 주가는 시간외 거래에서 5% 이상 하락했다. 3분기 실적의 세부사항을 살펴보겠다.

MGM 리조트의 주식은 부진한 3분기 실적 발표 후 시간외 거래에서 5% 이상 하락

METRO GLOBAL MEDIA INC by Metro Global Media, Inc.

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MAPLE GOLD MINES LTD by Maple Gold Mines Ltd.

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JMP Securities analyst Jordan Bender maintains MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) with a Market Outperform and lowers the price target from $50 to $45.

JMP Securities Maintains Market Outperform on MGM Resorts International, Lowers Price Target to $45

9 analysts have shared their evaluations of MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">5</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">5</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $47.78, a high estimate of $60.00, and a low estimate of $36.00. Surpassing the previous average price target of $46.22, the current average has increased by 3.38%.
<img src="https://www.benzinga.com/files/images/story/2025/1744840865_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of MGM Resorts International by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
&#x7C; Analyst &#x7C; Analyst Firm &#x7C; Action Taken &#x7C; Rating &#x7C;Current Price Target&#x7C; Prior Price Target &#x7C; 
&#x7C;--------------------&#x7C;--------------------&#x7C;---------------&#x7C;-----------------&#x7C;--------------------&#x7C;--------------------&#x7C; 
&#x7C;Stephen Grambling &#x7C;Morgan Stanley &#x7C;Lowers &#x7C;Equal-Weight &#x7C; $36.00&#x7C;$37.00 &#x7C; 
&#x7C;Stephen Grambling &#x7C;Morgan Stanley &#x7C;Raises &#x7C;Equal-Weight &#x7C; $41.00&#x7C;$39.00 &#x7C; 
&#x7C;Chad Beynon &#x7C;Macquarie &#x7C;Maintains &#x7C;Outperform &#x7C; $50.00&#x7C;$50.00 &#x7C; 
&#x7C;George Choi &#x7C;Citigroup &#x7C;Raises &#x7C;Buy &#x7C; $50.00&#x7C;$48.00 &#x7C; 
&#x7C;Daniel Politzer &#x7C;Wells Fargo &#x7C;Raises &#x7C;Overweight &#x7C; $46.00&#x7C;$44.00 &#x7C; 
&#x7C;Jordan Bender &#x7C;JMP Securities &#x7C;Maintains &#x7C;Market Outperform&#x7C; $50.00&#x7C;$50.00 &#x7C; 
&#x7C;Brandt Montour &#x7C;Barclays &#x7C;Raises &#x7C;Overweight &#x7C; $47.00&#x7C;$45.00 &#x7C; 
&#x7C;Ben Chaiken &#x7C;Mizuho &#x7C;Raises &#x7C;Outperform &#x7C; $60.00&#x7C;$56.00 &#x7C; 
&#x7C;Steven Wieczynski &#x7C;Stifel &#x7C;Raises &#x7C;Buy &#x7C; $50.00&#x7C;$47.00 &#x7C;
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to MGM Resorts International. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of MGM Resorts International compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for MGM Resorts International's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of MGM Resorts International's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MGM/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on MGM Resorts International analyst ratings.</a>
<h2>Get to Know MGM Resorts International Better</h2>
MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 59% of total EBITDAR in 2024. MGM also owns US regional assets, which represented a low 20s share of 2024 EBITDAR (MGM's Macao EBITDAR was 21% of the total in 2024). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.
<h3>Understanding the Numbers: MGM Resorts International's Finances</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Challenges: MGM Resorts International's revenue growth over 3M faced difficulties. As of 31 December, 2024, the company experienced a decline of approximately -0.66%. This indicates a decrease in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: MGM Resorts International's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 3.55%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): MGM Resorts International's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.94% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): MGM Resorts International's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.36%, the company may face hurdles in achieving optimal financial performance.
Debt Management: MGM Resorts International's debt-to-equity ratio is below the industry average. With a ratio of 10.45, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where MGM Resorts International Stands With Analysts

In the current session, MGM Resorts International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) is trading at $29.29, after a 1.41% drop. Over the past month, the stock decreased by 11.41%, and in the past year, by 31.11%. With performance like this, long-term shareholders are more likely to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2025/1744822835_0.png" alt="Past Year Chart" />

<h3>How Does MGM Resorts International P/E Compare to Other Companies?</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
MGM Resorts International has a lower P/E than the aggregate P/E of 46.94 of the Hotels, Restaurants &amp; Leisure industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1744822835_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

Price Over Earnings Overview: MGM Resorts International

Morgan Stanley analyst Stephen Grambling maintains MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) with a Equal-Weight and lowers the price target from $37 to $36.

Morgan Stanley Maintains Equal-Weight on MGM Resorts International, Lowers Price Target to $36

Golfer Rory McIlroy made history as one of only six golfers in the modern era to complete the Grand Slam, winning the four major championships. While McIlroy's win was good for the sport of golf and his legacy, it may prove to be a negative for <a href="https://www.benzinga.com/general/sports-betting">sports betting companies.</a>
What Happened: McIlroy won his first ever Masters Tournament in a playoff with Justin Rose in the 2025 tournament, that <a href="https://www.benzinga.com/general/sports-betting/24/04/38221203/tiger-woods-masters-record-will-legendary-golfer-make-the-cut-heres-what-benzinga-users-sa">unlike last year,</a> didn't feature the same fanfare with Tiger Woods not participating.
While viewership for media partners Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) may have been down in the first few days of the Masters on a year-over-year basis without Woods, the final Sunday round provided ups and downs for golf fans and bettors that could make this one of the most memorable Masters tournaments in years.
For McIlroy it now serves as the final piece needed to complete the career grand slam, winning the Masters, PGA Championship, U.S. Open and British Open. McIlroy previously finished second at the Masters in 2022 and had multiple top 10 finishes before his victory Sunday.
The victory didn&#8217;t come easy with McIlroy having multiple ups and downs Sunday and giving away his final round lead multiple times, as shown on the Kalshi prediction market odds below. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">History was made at the 2025 Masters: twice. Rory completed the Career Grand Slam. Fans live traded the Masters legally in all 50 states for the first time. $86M+ traded on Kalshi: 3x the Super Bowl. <a href="https://t.co/AVLlpdQpMc">pic.twitter.com/AVLlpdQpMc</a>
&mdash; Kalshi (@Kalshi) <a href="https://twitter.com/Kalshi/status/1911800461750919469?ref_src=twsrc%5Etfw">April 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
With the win, McIlroy now joins Gene Sarazen, Ben Hogan, Gary Player, Jack Nicklaus and Tiger Woods as the only Grand Slam winners in golf.
Read Also: <a href="https://www.benzinga.com/general/sports/24/11/42246187/tiger-woods-rory-mcilroy-pga-tour-sofi-prep-golf-remixed-for-2025-tgl-launch">Tiger Woods, Rory McIlroy, PGA Tour, SoFi Prep &#8216;Golf Remixed&#8217; For 2025 TGL Launch</a>
Sportsbooks Suffer: Several sportsbooks may be on the hook for large payouts on McIlroy, who was among the most bet golfers to win the Masters at odds mostly in a range of +650 to +1,200 before the tournament began Thursday.
At William Hill, the British sportsbook had a Money Back offer for a Free Bet if McIlroy won. This turns into a seven-figure payout by the sportsbook for the promotion, according to the company.
"Masters Sunday 2025 will go down as one of the most dramatic we've ever seen, but also as one of the most significant in the history of betting on golf for William Hill," company spokesperson Lee Phelps said.
Phelps said McIlroy was the biggest liability for the sportsbook with tens of thousands of individual bets placed on the golfer to win the Masters.
At BetMGM, which is a joint venture between MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) and Entain, McIlroy was one of the most bet golfers to win. BetMGM's John Ewing <a href="https://x.com/johnewing/status/1911433529612783814">said </a>19% of the money was on McIlroy to win the tournament ahead of the fourth round on Sunday.  
What's Next: While McIlroy has now completed the career grand slam, bettors look ready to wager on the 35-year-old winning more major tournaments going forward.
BetMGM <a href="https://x.com/johnewing/status/1911807911241957779">offers </a>betting on how many majors McIlroy will win in 2025, with the upcoming PGA Championship (May 15-18), U.S. Open (June 12-15) and British Open (July 17-20). The payouts are
<ul>
<li>1: -200</li>
<li>2: +188</li>
<li>3: +1,400</li>
<li>4: +8,000</li>
</ul>
No golfer has won all four majors in the same year in the modern era, with Woods coming close and winning three of the four in 2000 followed by a Masters win in 2001 for four consecutive major wins.
Bettors are also already backing McIlroy to win the 2026 Masters, according to <a href="https://x.com/johnewing/status/1911804138184225154">Ewing</a>. With odds of +1,200 at BetMGM, 59% of the money is on McIlroy to win back-to-back Masters tournaments.
Prediction market Kalshi also has <a href="https://kalshi.com/events?search=rory+mcilroy">betting odds</a> for the remaining three majors in 2025, where McIlroy is either the favorite or has the second-best odds behind Scottie Scheffler in each tournament as listed below:
<ul>
<li>U.S. Open: McIlroy 12%, Scheffler 15%</li>
<li>PGA Championship: McIlroy 17%, Scheffler 16%</li>
<li>British Open: McIlroy 13%, Scheffler 20%</li>
</ul>
<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXUSOPEN-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXUSOPEN-25-SS&#038;ids=KXUSOPEN-25-RM&#038;ids=KXUSOPEN-25-XS" width="488px" height="196px" style="border:0"></iframe>
Kalshi <a href="https://x.com/Kalshi/status/1911800461750919469">said </a>it made history with fans in all 50 states live trading the Masters tournament predictions. A total of $86 million was traded on the Masters on Kalshi, which was three times more than on the Super Bowl.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/23/08/34014067/more-than-a-game-athletes-rare-emotional-interview-reveals-human-side-of-professional-golf">More Than A Game: Athlete&#8217;s Rare, Emotional Interview Reveals Human Side Of Professional Golf</a></li>
</ul>
Photo: <a href="https://www.shutterstock.com/g/dwong19">Debby Wong</a> via Shutterstock

Sports Betting

Sports

PARA

PARAA

Rory McIlroy's Masters Win Good For Golf, Bad For Sportsbooks: Bettors Backing Golfer To Win More Majors

Following Bank of America Securities&#8217; recent notes amid tariff-induced volatility, it also published some key data on questions <a target="_blank" href="https://www.benzinga.com/general/travel" rel="noreferrer noopener">it regularly receives.</a>
International inbound travel makes up only ~5% of U.S. room nights and 3% of arrivals. However, international travelers stay longer, spend more, and are mostly leisure travelers.
The largest source market is Canada (40% of international room nights and 28% of arrivals), followed by Europe and Mexico.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/travel/25/04/44592941/tariff-tensions-could-hurt-us-gdp-as-canadian-tourism-cools-goldman-sachs" rel="noreferrer noopener">Tariff Tensions Could Hurt US GDP As Canadian Tourism Cools: Goldman Sachs</a>
Las Vegas has 10% international visitors, and ~15% of gaming revenue is high-end baccarat, some of which is Asia-sourced.
BofA Securities noted that international inbound did not fully recover post-pandemic, given flight capacity and the dollar.
International revenue is 20-40% for Lodging C-Corps, and China accounts for 5-9% of fees for Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), Hilton Worldwide Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), Hyatt Hotels Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>), and Wyndham Hotels &amp; Resorts, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WH#NYSE">WH</a>).
Other regions are evenly balanced across Europe, AsiaPac ex-China, Caribbean/LatAM and MidEast/Africa.
By far the most considerable China exposure in BofA Securities&#8217; coverage is Macau, which makes up 62%, 52%, and 20% of Las Vegas Sands Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>), Wynn Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) and MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) revenue, respectively, while China makes up another ~20% of Singapore for Las Vegas Sands.
The top question BofA Securities received last week concerns the exposure of Lodging C-Corp room development to China. BofA Securities estimates China makes up 37%, 26%, 22%, and 18% of pipelines for Hyatt Hotels, Hilton Worldwide, Wyndham Hotels, and Marriott International overall, but this could overstate exposure as pipelines understate conversions, and China under-indexes on RevPAR given lower occupancy and rates.
Direct tariff impacts for GL&amp;L should be low as supplies/inventories make up ~10-15% of hotel operating expenditure. Developers could see supply chain issues/price spikes across their budgets, but most dollars are international (Japan, Singapore, Macau).
Government makes up ~3% of room nights, and slightly more if contractors are included.
Government per diems are low, reducing the exposure of full-service hotels. Pre-pandemic business travel made up ~30% of overall U.S. travel spending but closer to 70% of revenue for BofA Securities&#8217; companies, which overweight higher chain scales and urban markets.
Business travel is less elastic than leisure travel, but it is diversified by industry. It accounts for only 2-3% of overall corporate operating expenditure and never fully recovered post-COVID.
Lodging C-Corps are now trading below historical averages, while Lodging REITs are at historical trough levels reached at/near the Global Financial Crisis and during COVID.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/25/04/44796659/apple-tops-global-smartphone-sales-with-19-share-boosted-by-iphone-16e-emerging-market-growth" target="_blank" rel="noreferrer noopener">Apple Tops Global Smartphone Sales With 19% Share, Boosted By iPhone 16e, Emerging Market Growth</a></li>
</ul>
Photo via Shutterstock

Which Gaming And Lodging Stocks Are Exposed To International inbound Travel And China?

BofA Securities analyst Shaun C. Kelley shared his first-quarter preview of the gaming sector Monday.
Kelley already adjusted first-quarter estimates for full-year estimates to reflect a more uncertain Macau environment, incorporate regional gaming trends, discuss recent digital trends, tweak Macau share estimates, and lower his price targets to reflect the market re-rating.
It&#8217;s been volatile, but gaming stocks are down 12% year-to-date compared to the S&amp;P&#8217;s 9% decline.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44787792/sony-raises-ps5-prices-in-some-countries-by-up-to-25-in-anticipation-of-tariffs" rel="noreferrer noopener">Sony Raises PS5 Prices In Some Countries By Up To 25% In Anticipation Of Tariffs</a>
Kelley is 5% below the Street in Macau, and given U.S./China tensions, expect a more cautious tone from operators.
The analyst did not think management teams were seeing softness in Las Vegas yet. Still, investors will be hyper-focused on any changes in visitation, bookings, cancellations, or behavior as they exited in March and April following the trade/geopolitical issues.
For regionals, Kelley is slightly below the Street for the first quarter, but visitation has been relatively steady and actually improved in March due to better weather. His 2025 gaming EBITDA estimates are now 2% below the Street.
Kelley&#8217;s first-quarter EBITDA estimates for Macau are 5% below the Street, driven by lower market share expectations for US-based operators and margin pressure from a mix shift to premium and concession operating expenditures. The analyst is 10% below the Street for Las Vegas Sands Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) at $560 million.
For the remainder of 2025, Kelley modeled market-wide Gross Gaming Revenue (GGR) up 0.5% (versus +3% prior) and lowered his market share expectations for Las Vegas Sands, given mass-market challenges.
Kelley&#8217;s first-quarter Marina Bay Sands estimate for Singapore is $522 million, slightly below consensus.
For Strip, Kelley&#8217;s first-quarter estimates are in line with the Street. He is slightly ahead of Wynn Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>), in line with Caesars Entertainment, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>), and below the Street for MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>).
Kelley lowered his fiscal 2025 Vegas EBITDA estimates by 2.5% and modeled -1% RevPAR and flat GGR. The analyst&#8217;s 2025 estimates are 3% below the Street on a weighted average basis.
While he is now modeling a more cautious consumer outlook, his Vegas room rate survey has been resilient, with rates tracking up +4% for the second quarter.
However, the data on placer visitation to Strip casinos has softened in March and April.
Kelley&#8217;s first-quarter estimates for Locals are 2% below the Street for Boyd Gaming Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) versus the Street driven by local competition and regional weather in the South.
For Regionals: Kelley&#8217;s first-quarter regional estimates are 1% below the Street.
Based on limited state data, Kelley estimated that same-store GGR was +5% in January, -5% in February, and -1% in March. The analyst&#8217;s Placer visitation data followed a similar trend, suggesting trends are improving month-to-date in April, though Easter timing is creating noise.
Based on March Madness outcomes, the analyst noted DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) is likely tracking below current Street estimates of $155M.
Kelley will refine his estimates pending more March data but bridged to ~$110-120 million of first-quarter EBITDA.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44770461/intel-on-slump-as-china-hits-us-made-chips-with-tariffs-amd-and-taiwan-semiconductor-rise-on-exemption-boost" target="_blank" rel="noreferrer noopener">China Hits US-Made Chips With Tariffs, But Those Outsourcing To Taiwan Semiconductor Exempt</a></li>
</ul>
Photo via Shutterstock

These Gaming Stocks Are Under Pressure As Analyst Cuts Forecast On Macau Risk And Soft Vegas Data

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$250.00</td>
<td>$105.4K</td>
<td>21.1K</td>
<td>59.2K</td>
</tr>
<tr>
<td>F</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$9.50</td>
<td>$28.0K</td>
<td>29.2K</td>
<td>46.5K</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$44.00</td>
<td>$38.7K</td>
<td>1.4K</td>
<td>3.2K</td>
</tr>
<tr>
<td>LULU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$270.00</td>
<td>$58.9K</td>
<td>947</td>
<td>228</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$100.00</td>
<td>$36.1K</td>
<td>1.5K</td>
<td>218</td>
</tr>
<tr>
<td>KMX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/17/25</td>
<td>$77.50</td>
<td>$62.5K</td>
<td>0</td>
<td>193</td>
</tr>
<tr>
<td>AMZN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$160.00</td>
<td>$92.1K</td>
<td>6.5K</td>
<td>179</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/20/26</td>
<td>$45.00</td>
<td>$29.5K</td>
<td>2.1K</td>
<td>80</td>
</tr>
<tr>
<td>DASH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$190.00</td>
<td>$33.0K</td>
<td>695</td>
<td>31</td>
</tr>
<tr>
<td>MGM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$24.00</td>
<td>$25.5K</td>
<td>128</td>
<td>0</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a put option sweep with bearish sentiment. It expires in 3 day(s) on April 17, 2025. Parties traded 111 contract(s) at a $250.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $105.4K, with a price of $950.0 per contract. There were 21140 open contracts at this strike prior to today, and today 59259 contract(s) were bought and sold. 
• For F (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), we notice a call option trade that happens to be bearish, expiring in 3 day(s) on April 17, 2025. This event was a transfer of 875 contract(s) at a $9.50 strike. The total cost received by the writing party (or parties) was $28.0K, with a price of $32.0 per contract. There were 29276 open contracts at this strike prior to today, and today 46584 contract(s) were bought and sold. 
• For GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we notice a call option sweep that happens to be bullish, expiring in 3 day(s) on April 17, 2025. This event was a transfer of 234 contract(s) at a $44.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $38.7K, with a price of $166.0 per contract. There were 1483 open contracts at this strike prior to today, and today 3257 contract(s) were bought and sold. 
• Regarding LULU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>), we observe a call option sweep with bullish sentiment. It expires in 32 day(s) on May 16, 2025. Parties traded 50 contract(s) at a $270.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $58.9K, with a price of $1179.0 per contract. There were 947 open contracts at this strike prior to today, and today 228 contract(s) were bought and sold. 
• Regarding BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we observe a call option trade with bullish sentiment. It expires in 32 day(s) on May 16, 2025. Parties traded 20 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $36.1K, with a price of $1808.0 per contract. There were 1548 open contracts at this strike prior to today, and today 218 contract(s) were bought and sold. 
• Regarding KMX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>), we observe a put option sweep with bullish sentiment. It expires in 186 day(s) on October 17, 2025. Parties traded 47 contract(s) at a $77.50 strike. This particular put needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $62.5K, with a price of $1330.0 per contract. There were 0 open contracts at this strike prior to today, and today 193 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a put option sweep that happens to be bearish, expiring in 158 day(s) on September 19, 2025. This event was a transfer of 97 contract(s) at a $160.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $92.1K, with a price of $950.0 per contract. There were 6543 open contracts at this strike prior to today, and today 179 contract(s) were bought and sold. 
• For DKNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), we notice a call option sweep that happens to be bullish, expiring in 340 day(s) on March 20, 2026. This event was a transfer of 80 contract(s) at a $45.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.5K, with a price of $370.0 per contract. There were 2189 open contracts at this strike prior to today, and today 80 contract(s) were bought and sold. 
• For DASH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>), we notice a call option trade that happens to be bearish, expiring in 67 day(s) on June 20, 2025. This event was a transfer of 25 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $33.0K, with a price of $1320.0 per contract. There were 695 open contracts at this strike prior to today, and today 31 contract(s) were bought and sold. 
• For MGM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), we notice a put option sweep that happens to be bullish, expiring in 32 day(s) on May 16, 2025. This event was a transfer of 500 contract(s) at a $24.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $25.5K, with a price of $50.0 per contract. There were 128 open contracts at this strike prior to today, and today 0 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AMZN

BABA

DASH

LULU

TSLA

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

WIIM

ADNT

APTV

BKNG

BROS

BYON

CANG

CAVA

CHWY

COLM

CROX

New Oriental Education & Technology Group

ELYS

EVGO

EXPE

FIVE

FNKO

GENI

GOLF

GROV

HLLY

HTHT

IRBT

LAUR

PENN

SPWH

STLA

TCOM

TSCAF

ULTA

WRBY

XPOF

YUMC

Shares of companies in the braoder consumer discretionary sector are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

BofA Securities analyzes the extent of tariffs and the macroeconomic situation&#8217;s effect on the earnings of gaming and lodging companies.
Since BofA&#8217;s previous report on April 1, stocks in the lodging and gaming sector have dropped 11% % -25 %, underperforming the S&amp;P 500's 16% decline.
Rising tariffs have significantly increased recession risks, with the sector now pricing in an 85% % -100 % chance of a downturn.
Investor concerns have escalated from market correction to a potential full-scale recession. A tariff-driven slowdown could cut sector revenues by 2%–4% and EBITDA by 3%–8%.
Recessions differ in nature, but the past three saw average peak-to-trough GDP drops of 5.1% and 10% in RevPAR.
According to the analyst, sub-sector sensitivity varies, with regional gaming and skiing less affected, while hotels and timeshares are more exposed. 
Also Read: <a href="https://www.benzinga.com/news/25/04/44698868/tariffs-recession-fears-could-derail-wayfair-rh-and-etsy-says-analyst">Tariffs, Recession Fears Could Derail Wayfair, RH And Etsy, Says Analyst</a>
Earnings risk is highest for gaming operators and lodging REITs due to their high operating leverage. COVID and GFC downturns lasted about 67 days; current declines are 55 days in, said the analyst.
A 1% GDP decline could reduce hotel RevPAR by 2%–4%, broader sector revenue by 2%–4%, and EBITDA by 3%–8%.
Tariffs are projected to impact GDP by 1%–1.5%, amplifying pressure on hospitality earnings.
Early data from Apple Hospitality REIT Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APLE#NYSE">APLE</a>) signals underperformance, with potential RevPAR guidance cuts of 2% to 3% and flat growth for the U.S. in 2025.
Domestic gaming stocks are currently trading at notably low valuations, with 2025 EBITDA multiples at 6.5x and free cash flow yields at 15%, while operating companies are at 6.3x and 20%, respectively, said the analyst.
These figures sit one standard deviation below long-term averages, hitting levels last seen in 2022 and even lower than in 2016 and 2018. 
Lodging C-Corps are also below historical norms, except for Hilton Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), which still trades at a premium.
Lodging REITs have dropped to valuation lows only previously observed during the COVID-19 and Global Financial crises.
Meanwhile, timeshare valuations are also depressed, and Vail Resorts Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) is now trading at its lowest multiple since 2011.
Read Next: <a href="https://www.benzinga.com/25/04/44717332/why-is-ev-maker-mullen-automotive-stock-tanking-today">Why Is EV Maker Mullen Automotive Stock Tanking Today?</a>
Photo: Shutterstock

General

APLE

CHDN

BofA Flags Rising Risks For Gaming And Lodging Firms As Valuations Tumble

DECK

FEDU

PSNYW

SBET

TSCO

Shares of consumer discretionary stocks are trading higher after President Trump issued a 90-day pause on reciprocal tariffs for all countries except China, which may reduce risks towards the consumer economy.

AENT

ALUR

ATAT

CLEU

DOGZ

HSAI

KAVL

MULN

WKSP

Shares of the companies in the broader consumer discretionary sector are trading lower amid US-China trade announcements and overall market weakness, which is clouding certainty around consumer spending and the state of the economy.

ABNB

APEI

DADA

FATBB

MELI

Melco Resorts & Entertainment Limited - American Depositary Shares

MLCO

RACE

Sony Group Corporation American Depositary Shares

SONY

Shares of companies in the broader consumer discretionary sector are trading lower amid trade war escalations and President Trump's sweeping tariffs, which are leading to a decline in consumer confidence. Some economists also predict that households will experience higher costs of goods as a result of these policies.

AGAE

BALY

CENN

CVCO

DENN

FIGS

GMBL

LIND

MBLY

MOND

NCLH

PATK

PRKS

PTON

SERV

SGHC

TDUP

UXIN

WOOF

Shares of stocks within the broader consumer discretionary sector are trading higher. The sector may be trading up amid the release of better-than-expected ADP employment data.

The preliminary reading had already raised eyebrows among investors, yet the final data turned out even worse than feared. 
Five-year ahead inflation expectations — which reflect American consumers' perceptions of more structural inflation concerns — jumped to 4.1% in March, according to the final report released by the University of Michigan.
This marks an upward revision from the preliminary estimate of 3.9%, bringing the gauge to its highest level since February 1993.
Inflation concerns for the next 12 months were also upwardly revised from 4.9% to 5%, marking the highest since July 2022.
<h3 class="wp-block-heading">Chart: 5-Year Consumer Inflation Expectations Rose Over Three-Decade Highs</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="529" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28102728/USMIE5Y_2025-03-28_14-27-17_47e29-1024x529.png" alt="" class="wp-image-847068" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28102728/USMIE5Y_2025-03-28_14-27-17_47e29-1024x529.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28102728/USMIE5Y_2025-03-28_14-27-17_47e29-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28102728/USMIE5Y_2025-03-28_14-27-17_47e29-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28102728/USMIE5Y_2025-03-28_14-27-17_47e29-1536x793.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28102728/USMIE5Y_2025-03-28_14-27-17_47e29.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Consumer Sentiment Sinks In March, Inflation Fears Go Haywire</h3>
The University of Michigan's headline consumer sentiment index was revised down to 57.0 in March from a preliminary 57.9, plunging from 64.7 in February. This is the weakest reading in consumer sentiment since November 2022.
&#8220;Consumer sentiment confirmed its early month reading and fell for the third straight month, plummeting 12% from February,&#8221; Surveys of Consumers director Joanne Hsu, said in a Friday&#8217;s note. 
The subindex tracking consumer expectation was downwardly revised from 54.2 to 52.6, hitting the lowest since July 2022. 
&#8220;The expectations index plunged a precipitous 18% and has now lost more than 30% since November 2024,&#8221; Hsu added. 
The subindex for current conditions witnessed a minor improvement from 63.5 to 63.8, yet still marking a nearly 3% decline from February. 
<h3 class="wp-block-heading">Labor Market Concerns Rise</h3>
The report also highlighted growing concerns about the labor market. Consumers remain uneasy about potential economic fallout from current policy developments. Strikingly, two-thirds of respondents now expect unemployment to increase over the next year — the highest level since 2009. 
This trend underscores a critical vulnerability, as resilient labor markets and steady incomes have been the main pillars sustaining consumer spending in recent years.
<h3 class="wp-block-heading">Market Reactions</h3>
Earlier this month, Fed Chair Jerome Powell dismissed the University of Michigan's survey-based inflation expectations as an "outlier," downplaying its significance.
Investors, however, appear to disagree.
Major U.S. equity indices dropped sharply on Friday following the release of the final University of Michigan inflation data, which triggered an even stronger market reaction than the hotter-than-expected reading of the Fed's preferred inflation gauge earlier in the day. The S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — fell 1.1%, while the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) underperformed with a 1.3% decline. The Dow Jones Industrial Average also slid 0.9%.
Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) led losses within the S&amp;P 500 index, plunging 15% after reporting weaker-than-expected earnings. 
Excluding Lululemon, consumer discretionary stocks — particularly those tied to the travel and leisure sectors — bore the brunt of the negative sentiment following the University of Michigan consumer data.
Shares of Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) sunk 3.1%, heading for a fourth straight session of declines, while MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) plummeted 4.3%. 
Within Magnificent Seven stocks, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMNZ#NASDAQ">AMNZ</a>) was the underperformer, down 3%, followed by Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), down 2.2%. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44524354/us-debt-to-explode-past-world-war-ii-highs-threatens-growth-for-decades-cbo-says">US Debt To Explode Past World War II Highs, Threatens Growth For Decades: CBO</a></li>
</ul>
Photo: Shutterstock

Equities

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

ETFs

AMNZ

Consumer Inflation Expectations Skyrocket In March, Hit Highest Levels In 32 Years

Casino stocks are entering a period of seasonal strength, fueled by a surge in sports betting, increased travel during spring break, and a potential spending <a href="https://www.benzinga.com/topic/gaming">boost from tax refunds.</a>
Seasonax data shows that four major casino operators rank among the top-performing S&amp;P 500 stocks between March 20 and April 20, based on two decades of market trends.
<h3 class="wp-block-heading">A Strong Seasonal Pattern For Casino Stocks</h3>
Shares of Caesars Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NYSE">CZR</a>) have posted an average return of 7.4% during this period over the past 20 years, making it the fourth-best performing S&amp;P 500 stock. 
MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) follows closely with 6.59% average gains.
Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) and Wynn Resorts Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NYSE">WYNN</a>) also show strong seasonality, with respective average gains of 5.63% and 5.24% in this timeframe.
Historical data suggests this could be one of the strongest months for gaming stocks.
<h3 class="wp-block-heading">March Madness: A Billion-Dollar Betting Event</h3>
The NCAA March Madness tournament is one of the largest sports betting events in the U.S., generating billions in wagers. Sportsbooks—both online and in physical casinos—see massive betting volume. 
The American Gaming Association estimates that Americans will legally wager $3.1 billion on the men&#8217;s and women&#8217;s March Madness tournaments in 2025, an increase from $2.7 billion in 2024.
This surge in activity often translates into stronger Q1 results for casino operators.
<h3 class="wp-block-heading">Spring Break Brings Tourists and Big Spending</h3>
March and April mark peak spring break travel, driving increased foot traffic in key gambling destinations like Las Vegas and Atlantic City. 
Higher occupancy rates at resorts and casinos boost gaming revenue and non-gaming spending, benefiting companies such as Las Vegas Sands and Wynn Resorts.
Hotel room rates and casino floor activity typically see an uptick, reinforcing seasonal gains in gaming stocks.
<h3 class="wp-block-heading">Investors Positioning for Strong Q1 Earnings</h3>
The spike in betting activity and travel spending during March often sets up casino stocks for a strong earnings season in April. Investors tend to anticipate robust first-quarter results, which can push stock prices higher leading into earnings reports.
Las Vegas Sands Corp. is set to report its quarterly earnings on Apr. 16, a key event that could set the tone for the broader casino and gaming industry.
Other major casino operators, including Caesars Entertainment, MGM Resorts International, and Wynn Resorts, are scheduled to release their earnings reports in early May.
<h3 class="wp-block-heading">The April Effect: Tax Refunds and Consumer Spending</h3>
Another key driver of seasonal gains is the arrival of tax refunds in March and April. 
Historically, discretionary spending rises during this period, with some of that extra cash flowing into casinos, sports betting, and entertainment venues.
For many Americans, tax refunds act as an additional source of disposable income, contributing to higher gaming revenue. This effect could further support the positive seasonal trend seen in casino stocks.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44420778/us-consumers-face-risks-as-rising-cost-of-living-job-market-cracks-threaten-spending-bank-of-america-warns">US Consumers Face Risks As Rising Cost Of Living, Job Market &#8216;Cracks&#8217; Threaten Spending, Bank of America Warns</a></li>
</ul>
Photo: zimmytws/Shutterstock.com

Gaming

Large Cap

Casino Stocks Set For A Winning Streak: Why March Madness, Spring Break Could Fuel Big Gains

The latest market downturn has left many investors questioning whether this is a temporary dip or the beginning of <a href="https://www.benzinga.com/markets">a prolonged bear market.</a>
Yet, an eye-opening indicator suggests that opportunities may be more abundant than feared—95% of S&amp;P 500 stocks currently hold a median analyst price target above their latest trading price, signaling significant upside potential across the board.
Notably, two Magnificent Seven stocks—Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)—rank among the top when comparing the gap between Wall Street&#8217;s median price target and current prices, a quite uncommon event for tech giants that traditionally trade at valuation premiums.
<h3 class="wp-block-heading">Is This A Market Bottom Or A Value Trap?</h3>
The S&amp;P 500 officially entered correction territory last week, leaving investors to wonder whether the worst is over or if further downside awaits.
Ed Yardeni, president of Yardeni Research, has been one of the more bullish voices on Wall Street. Last week, he raised his probability of a bearish scenario from 20% to 35%. That forecast includes the possibility of a recession or stagflation—a combination of stagnant growth and inflation.
Yardeni also acknowledged the possibility that a bear market may have begun on Feb. 20, the day after the S&amp;P 500 reached a record high. This shift in sentiment led him to lower his year-end 2025 S&amp;P 500 target from 7,000 to 6,400.
From a technical standpoint, only 41% of S&amp;P 500 stocks are trading above their 200-day moving average, signaling that most have fallen below a key trend support level, potentially confirming a bearish phase.
Yet, long-term market data provides a reason for optimism. 
Jeffrey Buchbinder, chief equity strategist at LPL Financial, points out that market corrections—defined as a decline of 10% or more—occur every 1.1 years on average, dating back to 1928. 
&#8220;Corrections also tend to produce attractive buying opportunities&#8221;
Since 1950, the S&amp;P 500 has experienced an average intra-year drawdown of a negative 13.7%, yet it has still managed to post an average annual gain of 9.5%, with 73% of those years ending in positive territory. 
Even in years when the index experienced an intra-year decline of 10% to 20%, the average annual return was still 8.4%, with 64% of those years finishing higher.
<h3 class="wp-block-heading">Which Stocks Have The Biggest Upside?</h3>
Based on current analyst price targets, several stocks stand out for their potential gains. 
Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) leads the list, with a median price target nearly 95% higher than its last price. First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) follows closely, with a projected upside of 93%.
Notably, Tesla and Nvidia, two of the most closely watched growth stocks, also rank high on the list. Analysts see Tesla's price target at $371.50, representing a 64.9% upside, while Nvidia's median price target sits at $175, implying a 51.6% gain from current levels.
Other stocks with significant upside potential include:
<ul>
<li>Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) &#8211; 81.4% potential upside</li>
<li>Western Digital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) &#8211; 80.4% potential upside</li>
<li>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) &#8211; 80.2% potential upside</li>
<li>Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) &#8211; 72.0% potential upside</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>#</th>
<th>Stock name</th>
<th>Last Price</th>
<th>Price Target &#8211; Median</th>
<th>Target vs. Last Price %</th>
</tr>
</thead>
<tbody>
<tr>
<td>1</td>
<td>Deckers Outdoor Corp.</td>
<td>115.30</td>
<td>225.00</td>
<td>95.14%</td>
</tr>
<tr>
<td>2</td>
<td>First Solar, Inc. </td>
<td>127.34</td>
<td>245.95</td>
<td>93.14%</td>
</tr>
<tr>
<td>3</td>
<td>Caesars Entertainment, Inc. </td>
<td>27.56</td>
<td>50.00</td>
<td>81.42%</td>
</tr>
<tr>
<td>4</td>
<td>Western Digital Corp.</td>
<td>44.34</td>
<td>80.00</td>
<td>80.42%</td>
</tr>
<tr>
<td>5</td>
<td>United Airlines Holdings, Inc. </td>
<td>71.34</td>
<td>128.60</td>
<td>80.26%</td>
</tr>
<tr>
<td>6</td>
<td>Delta Air Lines, Inc. </td>
<td>45.92</td>
<td>79.00</td>
<td>72.04%</td>
</tr>
<tr>
<td>7</td>
<td>Tesla, Inc. </td>
<td>225.31</td>
<td>371.50</td>
<td>64.88%</td>
</tr>
<tr>
<td>8</td>
<td>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>)</td>
<td>19.07</td>
<td>31.00</td>
<td>62.56%</td>
</tr>
<tr>
<td>9</td>
<td>Align Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>)</td>
<td>164.53</td>
<td>260.00</td>
<td>58.03%</td>
</tr>
<tr>
<td>10</td>
<td>Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>210.85</td>
<td>331.50</td>
<td>57.22%</td>
</tr>
<tr>
<td>11</td>
<td>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</td>
<td>31.86</td>
<td>50.00</td>
<td>56.94%</td>
</tr>
<tr>
<td>12</td>
<td>Carnival Corp. &amp; plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>)</td>
<td>20.12</td>
<td>31.00</td>
<td>54.08%</td>
</tr>
<tr>
<td>13</td>
<td>Nvidia Corp. </td>
<td>115.43</td>
<td>175.00</td>
<td>51.61%</td>
</tr>
<tr>
<td>14</td>
<td>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>)</td>
<td>114.02</td>
<td>170.00</td>
<td>49.10%</td>
</tr>
<tr>
<td>15</td>
<td>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>)</td>
<td>53.05</td>
<td>79.00</td>
<td>48.92%</td>
</tr>
<tr>
<td>16</td>
<td>Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>)</td>
<td>87.62</td>
<td>127.50</td>
<td>45.51%</td>
</tr>
<tr>
<td>17</td>
<td>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>)</td>
<td>203.38</td>
<td>295.00</td>
<td>45.05%</td>
</tr>
<tr>
<td>18</td>
<td>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>)</td>
<td>96.44</td>
<td>139.00</td>
<td>44.13%</td>
</tr>
<tr>
<td>19</td>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>37.90</td>
<td>54.50</td>
<td>43.80%</td>
</tr>
<tr>
<td>20</td>
<td>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>)</td>
<td>447.99</td>
<td>644.00</td>
<td>43.75%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: Koyfin</figcaption></figure>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44379453/equity-exposure-plummets-cash-holdings-jump-as-investors-rethink-us-exceptionalism-bank-of-america-survey">Equity Exposure Plummets, Cash Holdings Jump As Investors Rethink &#8216;US Exceptionalism,&#8217; Bank Of America Survey</a></li>
</ul>
Photo: Shutterstock

Mid Cap

ALGN

DELL

FSLR

NVDA

SMCI

SNPS

Analysts See Upside For 95% Of S&P 500 Stocks: How Nvidia, Tesla Stack Up

MGM Resorts International's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) short percent of float has risen 6.96% since its last report. The company recently reported that it has 17.24 million shares sold short, which is 8.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>MGM Resorts International Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1742237118_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for MGM Resorts International has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing MGM Resorts International's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, MGM Resorts International's peer group average for short interest as a percentage of float is 4.94%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Do Investors Really Feel About MGM Resorts International?

BofA Securities analyst disclosed views about the future of prediction <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color" rel="noreferrer noopener">markets for online sports betting</a>.
Since December 2024, prediction markets such as Kalshi, Crypto.com, and Polymarket have significantly impacted the U.S. sports betting industry, introducing an increasing variety of markets and betting options on a national scale, writes the analyst.
The analyst says that this trend, combined with an evolving regulatory environment, presents an area that both online sports betting (OSB) operators and investors should monitor closely.
Talking about the best scenario, the analyst writes that prediction markets can enhance the sports betting sector by attracting new customers, expanding the total addressable market (TAM), and creating a convergence between sports betting and financial technology.
The analyst sees opportunities for collaboration between these technologies, and the forthcoming regulatory guidance from the Commodities Futures Trading Commission (CFTC) in late March or early April could drive further interest in this nascent field.
Notably, on 2/5, the CFTC revealed plans for a roundtable discussion on prediction markets to gather input from key stakeholders as it works on refining its regulatory framework.
This event is anticipated to occur approximately 45 days after the February 5th announcement (specific date has not been confirmed) and the 90-day review period for Crypto.com's sports contracts will conclude in mid-April, adds the analyst.
The analyst notes that these events are expected to provide essential clarity on the regulatory landscape for sports-related prediction markets.
On the other hand, the analyst says that there is potential for legal challenges under CFTC regulations and the Wire Act.
On March 5, Nevada issued a cease-and-desist order to Kalshi, requiring them to stop offering event-based contracts on sports and elections by March 14 (extended at Kalshi&#8217;s request). California tribes have raised concerns about prediction markets impacting tribal sovereignty, notes the analyst.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44320890/cathie-wood-hunts-for-crypto-bargains-amid-bitcoin-decline-ark-loads-up-on-robinhood-and-coinbase" target="_blank" rel="noreferrer noopener">Cathie Wood Hunts For Crypto Bargains Amid Bitcoin Decline, Ark Loads Up On Robinhood And Coinbase</a></li>
</ul>
Photo by sutadimages on Shutterstock.

GAMB

BofA Analyst Highlights Regulatory Clarity As Key To Unlocking Potential Of Sports Prediction Market

SHAK

Shares of travel, hotel and restaurant stocks are trading higher amid overall market strength. Despite consumer concerns, stocks have rebounded following recent weakness.

Press Releases

MGM Resorts International Joins the College Basketball Crown as Official Partner

MGM RESORTS & BETMGM EXPAND COMMITMENT TO PROBLEM GAMBLING RESEARCH, TREATMENT & PUBLIC AWARENESS

Jamie Foxx Spotlights BetMGM Casino in New Commercial

MGM Resorts International Will Present at the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum

MGM RESORTS WELCOMES NBCUNIVERSAL EXECUTIVE DONNA LANGLEY TO BOARD OF DIRECTORS

Electronic Table Games Boom: The Next Big Play in the Casino Industry

MGM REWARDS UNVEILS ENHANCED PARTNER BENEFITS AND NEW MILESTONE REWARDS SET TO ELEVATE MEMBER EXPERIENCE ON LAND AND AT SEA

MGM Resorts International Announces First Quarter Earnings Release Date

Entertainment

BELLAGIO FOUNTAIN CLUB RETURNS FOR FORMULA 1 HEINEKEN LAS VEGAS GRAND PRIX 2025

MGM Resorts International and Entain Notice of BetMGM 1Q 2025 Business Update and Conference Call

GMVHY

JPOTF

TSX:JJ

Accel Entertainment

Comments

MGM Resorts International

Unusual Options Activity for

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Date	Put/Call	Strike Price	Exp Date	DTE	Trade Vol	Day Vol	Vol / OI	OI	Trade Type	Sentiment
01:55 PMFeb 18, 2025	PUT	$38.00	Apr 17, 2025	-3	8931	8207	63793	14	TRADE	BEARISH
10:33 AMFeb 14, 2025	CALL	$42.00	Jun 20, 2025	61	4053	2000	654	620	TRADE	BEARISH
10:33 AMFeb 14, 2025	CALL	$42.00	Jun 20, 2025	61	2053	2000	331	620	TRADE	NEUTRAL