Is MGM Stock a Buy?

When we look at MGM Resorts (NYSE: MGM), its business is mostly operational across the U.S. today, but it'll be at the mercy of consumers and businesses and their appetite to spend money and take the inherent risks associated with going to indoor entertainment locations. MGM Resorts said that it would burn about $270 million per month while resorts were closed, and even after opening that may be a good proxy for cash outflows from its resorts. To pay for these expenses, MGM had $4.6 billion of cash on the MGM balance sheet (excluding MGM Growth Properties and MGM China) when first-quarter results were announced, and $1.4 billion of redeemable partnership units in MGP.