MGM Resorts International
MGM
Consumer Discretionary
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
MGM Resorts International is the world's largest casino company by revenue ($17.5B in 2025). Casino gaming is the primary revenue driver at over $8B annually across 13+ properties (Bellagio, MGM Grand, Mandalay Bay, Borgata, BetMGM online). Court records document aggressive VIP exploitation: in Antar v. MGM, a known gambling addict placed $30M in bets over 100,000 wagers in nine months while receiving 1,800+ texts from VIP handlers offering bonuses. Third Circuit ruled MGM has "no duty of care" toward compulsive gamblers under NJ law. Revenue model structurally depends on problem gambling.
Research Sources
2 organizations
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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