5 Best Gambling Stocks To Buy Now

2. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Holders: 46   

MGM Resorts International (NYSE:MGM), through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company is one of the most prominent casino stocks to invest in. On September 28, MGM Resorts International (NYSE:MGM) announced that it had entered into a partnership with ExteNet Systems to design, build, and operate the advanced in-building signal and connectivity solutions of the latter across all properties of the former throughout the US.

On September 26, Citi analyst George Choi maintained a Buy rating on MGM Resorts International (NASDAQ:MGM) stock and raised the price target to $58.50 from $58, noting the resumption of Macau-bound e-visas in late October and early November is a positive surprise. 

At the end of the second quarter of 2022, 46 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in MGM Resorts International (NYSE:MGM), compared to 59 in the preceding quarter worth $2.18 billion. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and MGM Resorts International (NYSE:MGM) was one of them. Here is what the fund said:

“MGM Resorts International (NYSE:MGM) is a leading global casino and entertainment company. At its recent price of only $30 per share, we believe MGM is valued at a significant discount to our reasonable $50 per share estimate of the sum-of-the-parts value of its business. Further, the company’s domestic operations are valued at a 18% free-cash-flow yield. Paul Salem, Chairman of the Board, recently acquired shares.”