Please ensure Javascript is enabled for purposes of website accessibility

Why MGM Resorts Stock Jumped 7.6% Today

By Travis Hoium - Mar 11, 2021 at 4:00PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

BetMGM continues to add partnerships to its portfolio.

What happened 

Shares of MGM Resorts International (MGM 2.08%) jumped as much as 7.6% in trading today after the company announced another partnership through its BetMGM app. Shares settled slightly throughout the day and were up 4.4% at 3:35 p.m. EDT. 

So what

MGM announced a partnership with the Buffalo Wild Wings restaurant chain that will expand its visibility at a popular game-watching location. Fans betting on the BetMGM app from within Buffalo Wild Wings restaurants will be offered special promotions and custom bet types in Colorado, New Jersey, Indiana, Iowa, Tennessee, and West Virginia. The companies hope to expand the partnership to more locations.

Two people betting on a game while drinking beer.

Image source: Getty Images.

On top of the betting specials, Buffalo Wild Wings has launched an in-bar channel called OT Odds Powered by BetMGM that will bring betting odds and fantasy sports info into the bar. The hope is that this will make Buffalo Wild Wings an extended sportsbook for MGM Resorts across the country. 

Now what

Online gambling companies have been trying to build their customer base quickly to gain scale before others do. MGM has been doing this by adding highly visible partnerships with sports leagues and places like Buffalo Wild Wings, so this continues to fortify the company's market-leading position. 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

MGM Resorts International Stock Quote
MGM Resorts International
$35.80 (2.08%) $0.73

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/17/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.