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How to Buy MGM Resorts Stock | Invest in MGM

How to Buy MGM Resorts stock
Nemanja Curcic

Summary: MGM Resorts is an international hospitality and entertainment giant with a lucrative portfolio of hotels and gaming destinations around the globe. This guide will show you how to buy MGM Resorts stock in detail using a regulated online brokerage such as eToro.

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About MGM Resorts

Founded in 1986, MGM Resorts owns and operates famous properties in Las Vegas, such as the Bellagio, Mandalay Bay, and MGM Grand. Known for its world-class accommodations, fine dining, and lavish gaming and entertainment experiences, the MGM brand also pursues partnerships with popular icons like sports players.

After the 2018 Supreme Court ruling, MGM expanded into sports betting and online gaming markets with BetMGM. With a foothold in Canada and over 20 states in the U.S., it is one of North America’s most popular online gambling and betting platforms. 

Users can browse competitions and divisions from MLB, NFL, tennis, soccer, and many other major sports and benefit from regular and unique promotions on the platform.

How to buy MGM Resorts stock: step-by-step

Since its IPO on May 1, 1998, everybody has been able to buy shares in MGM Resorts International without restrictions. 

You can purchase MGM stock by going through these five steps explained below:

Step 1: Choose a broker

You have to gain access to the stock market before purchasing any shares. The simplest and fastest way to enter the market and buy MGM is via the services of a stock brokerage.

To securely buy MGM Resorts stock (MGM), we recommend the following:

eToro

  • Commission-free stock and ETF trading; 
  • 2,000+ stocks from 17 exchanges;
  • Fractional shares available;
  • User-friendly platform.

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

You will find that investing platforms have various pros and cons depending on your habits and preferences. However, certain aspects are the same with each brokerage, therefore pay attention to the following:

  • Range of offerings: Your platform should have MGM in their offer, obviously, but also look for other assets like different commodities, various stocks, forex, and derivative assets like options, CFDs, and futures. These will come in handy when you decide to diversify your portfolio;
  • Cost: The industry standards are no-minimum accounts and 0% commission fees for stocks and ETFs. Do not take into consideration anything less favorable;
  • Regulation and security: Your investing platform must adhere to the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations. Acknowledge the presence of two-factor authentication (2FA) policy and similar security measures; 
  • Fractional stock trading: Platforms that enable fractional stock trading allow you to buy stocks by the dollar amount, which suits those with limited capital or traders seeking to pursue the dollar-cost averaging approach.

Step 2: Open and fund your account

Once you choose a brokerage, move on with the investing process by registering and verifying your account. You should get an email with further instructions. 

After completing the verification process, you have to transfer funds to your account to purchase MGM stock. Payment options tend to include a bank transfer, debit or credit card, and an intermediary transaction service such as PayPal (PYPL). They are all viable methods for this step, so pick the most comfortable one.

Step 3: Decide how much you want to invest

Forming your opinion on the correct sum of money to invest is crucial to the investing process. You must keep the importance of your budget limit in mind: overextending can have disastrous consequences for you if the investment fails.

To avoid this, prepare the answers to these two questions:

  • Will the quality of my life deteriorate if the investment process does not deliver?
  • Do I have an emergency fund that covers at least three months of daily expenses and no outstanding high-interest debt?


Also, the right amount of money depends on your investing approach, risk tolerance, and envisioned investment timeline.

Step 4: Place your order and buy MGM Resorts stock

You have to set a trade order to purchase MGM shares. Once again, do the following steps: 

  • Step 1: Log into your investing platform and navigate towards the company’s ticker stock symbol MGM;
  • Step 2: Type in the amount of stock you want to buy;
  • Step 3: Select the order type (market order or limit order) and place it;
  • Step 4: Execute the trade order.

Step 5: Monitor and manage your investment

You should regularly research, manage, and monitor your portfolio for your investment to have a solid chance of returning a profit. 

Additionally, you need to frequently check the state of sports betting in the company’s BetMGM subsidiary. Remain informed about the legal status of sports gambling across the US states, the technological advances that enter the industry, and the general fiscal performance of MGM Resorts.

MGM Resorts stock price today

Pros and cons of buying MGM Resorts stock (MGM)

Pros

Pros

  • Dividends potential: Although it paused its dividend payouts in early 2023, there are still prospects that the company will resume dividend payouts once it achieves its performance goals;
  • Hospitality and entertainment industry exposure: Besides BetMGM, their sports betting branch, investing in MGM Resorts allows investors to benefit from hospitality and entertainment speculation, the integral components of the travel and tourism sector;
  • Diversification: Adding MGM Resorts stock is an excellent way to diversify your portfolio beyond more standard stocks and bonds;
  • Strategic partnerships and innovation: MGM Resorts’ abilities to team up with big names and adopt innovative technologies that tip the balance in its favor add to its long-term growth and competitiveness;
  • Strong brand: MGM Resorts is a household name in the hospitality, entertainment, and gaming sectors, which boosts client loyalty and increases the size of its customer base.
Cons

Cons

  • Intense competition: MGM Resorts faces fierce competition from other large casino and resort operators and novel forms of entertainment and leisure. The rising competition may affect the company’s market performance;
  • Legislatory challenges: Evolving regulations dictate the terms of the sports betting industry. MGM Resorts and BetMGM depend on the continuous legal affirmation of sports betting in the U.S.;
  • Dependence on Macau and Las Vegas Markets: MGM Resorts operates chiefly in Macau and Las Vegas. If these markets were to be negatively affected, e.g., a decrease in tourism, it would cause a downturn in the company’s performance.
  • Dependence on capital investments: The company relies on hefty capital investments to construct and maintain its various properties. Economic slowdowns and rising inflation could decrease the number of such economic endeavors and strain the company’s resources.

Common mistakes to avoid when buying MGM Resorts stock

Make sure to avoid these common investing mistakes:

  • Lack of research: Research the stock in detail, along with the global market and sports betting industry, before investing anything;
  • Lack of strategy: Clearly set your goals before you spend any money;
  • Staking everything on one asset: Always diversify your portfolio;
  • Falling prey to scams: Avoid illegal platforms and suspicious deals.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy MGM Resorts stock

How to buy MGM stock?

You can buy MGM stock using a regulated online brokerage such as eToro

Should I invest in MGM stock?

Your investing habits and sports betting industry status determine the answer to this question. Besides the stock value, consider the performance of hospitality and online sports betting, which both affect MGM’s price.

How do I sell my MGM stock?

Log into your brokerage, navigate toward MGM, declare how much stock you want to offload, and click the ‘sell’ button.

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

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