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6.5.20   1:31 PM Innovation - Consumer

MGM sees social attention soar as Vegas doubles down and reopens

People sure are eager to get back to gambling, as social chatter focused at MGM hits a multi-year high.

If you like to gamble, and do it often enough that you're itching to take on some risk, chances are a little Coronavirus won't be enough to scare you away from the tables. 

Or, at least, what's what social media data suggests, as MGM Resorts ($MGM) is getting a flood of new followers as casinos ready to reopen in some US States. It could help propel MGM shares back into the black in 2020 - after a sharp decline, shares have nearly risen 200% from this year's lows. 

Early scenes Thursday morning from the floor of Vegas' most popular venues showed that people are definitely eager to get back to gambling - and some of them, aren't even bothering to wear masks, adding a little additional risk to their casino trip. 

MGM is also seeing its Twitter Follower count (not shown) take on a new trajectory in recent weeks as people have been waiting to get back to betting. However, for MGM and other industry leaders, like Penn National Gaming, the bounce back in attention isn't translating to any uptick in job postings (not shown), which both companies slashed in the nadir of the pandemic. 

Earlier this year, we saw MGM's social attention plummet as nationwide lockdowns and the prospect of social distancing kept gamblers at home, some, playing endless rounds of Zoom poker to replicate the fun. 

But now, we can see a massive spike in Likes on Facebook in our chart above, which tracks the increase in social engagement MGM saw May 27 - the day it announced it would reopen on June 4. It's likely that as more gamblers head to Sin City, this figure could increase even further. And, Penn Gaming properties are individually seeing substantial increases in similar Facebook chatter.

Of course, let's see how much they like it after they've rolled a 7. 

About the Data: 

Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 


Reddit Mension Dataset

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