Jason Snipe, founder and CIO of Odyssey Capital Advisors, joins CNBC's “Halftime Report” to detail his latest portfolio moves.

MGM Resorts is generating cash and buying back stock, so why is the market worried?

NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. (NASDAQ: INSE), a leading provider of B2B gaming content, technology, hardware, and services, and BetMGM, a leading iGaming and sports betting operator, announced today that the innovative Hybrid Dealer® game MGM Bonus City is now available in Michigan. The game debuted in October 2023 in New Jersey and is available exclusively at BetMGM Casino.

Revenue and earnings both topped expectations for the second quarter of 2024. Investors are worried about weaker demand this year during the F1 race.

Shares of hotel and casino operator MGM Resorts International (MGM) dropped sharply Thursday after the company's top executive mentioned lackluster bookings for a big Formula 1 race-car event coming to Las Vegas in November.

@Morningstar's Dan Wasiolek says DraftKings (DKNG) and FanDuel are share gainers in the sports betting space, while MGM (MGM) seems to be weakening in the digital space. He and @Macquarie's Chad Beynon talk about how visitation growth in Vegas left its mark on the markets.

MGM Resorts' (MGM) second-quarter top line reflects strong contributions from MGM China. Also, growth in Las Vegas and a strategic partnership with Marriott added to the positives.

MGM Resorts International (NYSE:MGM ) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Andrew Chapman - Director of Investor Relations Jonathan Halkyard - Chief Financial Officer William Hornbuckle - Chief Executive Officer and President Gary Fritz - President, MGM Resorts International Interactive Corey Sanders - Chief Operating Officer Hubert Wang - COO and President, MGM China Holdings Conference Call Participants Joseph Greff - JPMorgan Shaun Kelley - Bank of America Carlo Santarelli - Deutsche Bank David Katz - Jefferies Stephen Grambling - Morgan Stanley Brandt Montour - Barclays Daniel Politzer - Wells Fargo Barry Jonas - Truist Securities John DeCree - CBRE Robin Farley - UBS Chad Beynon - Macquarie Steven Wieczynski - Stifel Jordan Bender - Citizens JMP Operator Good afternoon, everyone, and welcome to the MGM Resorts International Second Quarter 2024 Earnings Conference Call. Joining the call from the company today are Bill Hornbuckle, Chief Executive Officer and President; Corey Sanders, Chief Operating Officer; Jonathan Halkyard, Chief Financial Officer and Treasurer; Gary Fritz, President of MGM Interactive; Kenneth Feng, Executive Director and President of MGM China Holdings; Hubert Wang, COO and President of MGM China Holdings, and Andrew Chapman, Director of Investor Relations.

The headline numbers for MGM (MGM) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

MGM Resorts (MGM) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.59 per share a year ago.

Adjusted EBITDA up 57% Year-on-Year Market Share Reached 16.5% HONG KONG , July 31, 2024 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company"; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the "Group") for second quarter and the first half of 2024 (the "Period"). The Group is pleased to see Macau continue to grow.

Record 2Q consolidated net revenues of $4.3 billion Record 2Q MGM China Adjusted Property EBITDAR of $294 million; increase of 40% year-over-year as market share remained in the mid-teens 2Q net income attributable to MGM Resorts of $187 million and 2Q consolidated Adjusted EBITDAR of $1.2 billion International digital strategy progressed with announced acquisition of Tipico's U.S. platform bringing sports betting product in house and strategic relationship with Playtech to become only U.S. operator to offer live casino content from the Las Vegas Strip LAS VEGAS , July 31, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended June 30, 2024. "MGM Resorts continued to drive positive financial results and solid growth in the second quarter, with record MGM China Adjusted Property EBITDAR and further growth in Las Vegas where our Marriott relationship continues to exceed expectations and our meetings and convention business continues to strengthen thanks to our recently completed remodel of Mandalay Bay," said Bill Hornbuckle, CEO and President of MGM Resorts International.