MGM Resorts' BetMGM Expands Reach in Washington DC - PlayAGS (NYSE:AGS), American Public Education (NASDAQ:APEI)

Original Article:

Source: Link

Loading... Loading... MGM Resorts International's MGM leading sports betting and the iGaming brand, BetMGM, expanded its mobile sports betting service throughout Washington, D.C. This move allows sports fans across the district to use the BetMGM app and earn rewards from MGM Resorts and Marriott Bonvoy. The strategic expansion follows the D.C. Council's approval of its fiscal 2025 budget, which includes opening the digital sports betting market. MGM retains exclusivity around Nationals Park, operating the BetMGM Sportsbook through a partnership with the Washington Nationals. This allows fans to bet on their favorite teams across the District using BetMGM's award-winning mobile app. BetMGM continues to prioritize responsible gambling education as it expands into new markets. The company offers resources like GameSense, developed and licensed by the British Columbia Lottery Corporation and integrated into BetMGM's mobile and desktop platforms. This program provides customers with familiar tools for responsible gaming, complementing BetMGM's existing safety measures to ensure an enjoyable and secure digital gaming experience. Focus on Sports Betting MGM Resorts continues to focus on sports betting expansion. Sports betting and iGaming continue to be a major growth driver following the legalization of sports betting outside Nevada. The company emphasizes the approval and subsequent migration of the Entain platform in Nevada, setting the stage for the integration of a single account and wallet in Nevada during late spring 2024. The company is confident about the improved design and functionality of the BetMGM app launch (of a single wallet) and omnichannel growth prospects. BetMGM announced that it has partnered with Gila River Hotels & Casinos and the Arizona Cardinals in an effort to expand its retail and online sports betting. The company started a collaboration with Orix to build a world-class integrated resort in Japan. BetMGM has a long-term growth target of 20% to 25% in U.S. sports betting and iGaming. Currently, the company is on track to achieve its target. Price Performance Image Source: Zacks Investment Research Shares of this owner and operator of casino resorts through wholly-owned subsidiaries have gained 7.4% in the past six months compared with the Zacks Gaming industry's 15.9% growth. Although the company's shares have underperformed its industry, its ongoing focus on sports betting and iGaming along with international expansion, asset-light strategy, and non-gaming activities are likely to foster its growth in the upcoming period. The Zacks Consensus Estimate for 2025 earnings per share has increased to $3.19 from $3.13 in the past 30 days. Zacks Rank & Key Picks MGM Resorts currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Consumer Discretionary sector are as follows: PlayAGS, Inc. AGS sports a Zacks Rank #1 (Strong Buy). AGS has a trailing four-quarter earnings surprise of 33.3%, on average. The stock has appreciated 70.1% in the past year. The consensus estimate for AGS's 2024 sales and EPS suggests growth of 7.7% and 5,200%, respectively, from the year-ago levels. American Public Education, Inc. APEI currently flaunts a Zacks Rank #1. APEI has a trailing four-quarter earnings surprise of 138.2%, on average. The stock has surged 283.6% in the past year. The Zacks Consensus Estimate for APEI's 2024 sales and EPS indicates an increase of 3.9% and 124.6%, respectively, from year-ago levels. Royal Caribbean Cruises Ltd. RCL currently carries a Zacks Rank #2 (Buy). RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has rallied 65.4% in the past year. The Zacks Consensus Estimate for RCL's 2024 sales and EPS calls for growth of 16.9% and 64%, respectively, from the year-ago levels. To read this article on Zacks.com click here.