The past year was just about a perfect storm for travel and leisure businesses. MGM Resorts International (NYSE: MGM) stock experienced a colossal drop of more than 75% during the March panic at the onset of the pandemic.
The company’s revenue ticked back up in its third quarter, which ended Sept. 30, but was still 66% below the comparable period in 2019.
However, the hint of a recovery in the traditional casino business, along with potential in its online gambling and sports betting business, have shares nearing breakeven for the year. It’s likely that momentum will continue in 2021.