Nightview Capital, an investment management company that concentrates exclusively on publicly traded equity strategies released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. This letter highlights five transformative trends that the firm is observing for 2025 and beyond, along with a review of key companies in the portfolio and how the portfolio is evolving in response to these trends. For more information on the fund’s top picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, Nightview Capital emphasized stocks such as MGM Resorts International (NYSE:MGM). MGM Resorts International (NYSE:MGM) owns and operates casino, hotel, and entertainment resorts. The one-month return MGM Resorts International (NYSE:MGM) was -7.36%, and its shares lost 31.96% of their value over the last 52 weeks. On March 26, 2025, MGM Resorts International (NYSE:MGM) stock closed at $32.12 per share with a market capitalization of $9.172 billion.
Nightview Capital stated the following regarding MGM Resorts International (NYSE:MGM) in its Q4 2024 investor letter:
“Travel and entertainment are transforming as consumers prioritize experiences over material goods. This isn’t a return to pre pandemic norms—it’s a reinvention of how we connect, explore, and enjoy life. Travelers seek uniqueness and personalization, while entertainment blends digital and physical realms to create new experiences. The companies leading this evolution are redefining tradition through innovation, delivering unforgettable moments to a new generation. These businesses are not just adapting—they’re shaping the future of the experience economy.
MGM Resorts International (NYSE:MGM): Core Opportunity: MGM is evolving beyond gaming, focusing on luxury experiences, strategic partnerships, and international expansion to redefine hospitality.
Competitive Advantage: Revenue Mix: Non-gaming sources now account for 70% of revenue at flagship properties like the Bellagio.
Global Expansion: Projects include a $10 billion integrated resort in Osaka and ventures in Brazil, Thailand, and the UAE.
Digital Innovation: The BetMGM platform integrates digital engagement with physical resorts, appealing to millennial and Gen Z travelers.
Investment Case: MGM’s focus on blending physical and digital experiences positions it as a global leader in hospitality. Its innovative strategy aligns with shifting consumer preferences, and we believe its long history of operational success will continue.”
Aerial shot of an entertainment resort, its buildings and gaming amenities sprawling along the seafront.
MGM Resorts International (NYSE:MGM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held MGM Resorts International (NYSE:MGM) at the end of the fourth quarter compared to 46 in the third quarter. While we acknowledge the potential of MGM Resorts International (NYSE:MGM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We covered MGM Resorts International (NYSE:MGM) in another article, where we shared best hospitality stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.