MGM Resorts International‘s (NYSE: MGM) revenue continues to crap out as we enter 2021. Although its casinos have basically reopened, the lingering effects of COVID-19 have made it hard to bring many of its former customers back.
Indeed, the stock has risen steadily since the March lows, and some may see MGM as a top bet in 2021. Nonetheless, the lack of a recovery in revenue could mean that the stock faces long odds over the next year. Let’s take a closer look to find out why.
MGM operates resorts in Las Vegas and across the U.S. However, in recent years, the Chinese gambling mecca of Macao has accounted for most of the company’s revenue.