Could MGM Resorts Have a 26% Upside?

Following the investor day presentation that MGM Resorts International (NYSE: MGM) made yesterday, gambling industry investment bank and analysis firm Union Gaming issued a bullish research note and price-target boost today. Union's analyst John DeCree said MGM Resorts "has compiled all of the pieces of the puzzle, including a veteran management team, a multi-dimensional customer acquisition funnel, scalable proprietary technology, vast market access, and a global brand to throw it all behind." The upbeat rating comes after MGM predicted it would achieve second place in sports betting and online betting with its BetMGM platform, pushing high-profile fantasy sports and sportsbook operator DraftKings, Inc. (NASDAQ: DKNG) into third place.