As Q4 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers amongst the casino operator stocks, including MGM Resorts (NYSE:MGM) and its peers.

Casino operators enjoy limited competition because gambling is a highly regulated industry. These companies can also enjoy healthy margins and profits. Have you ever heard the phrase ‘the house always wins’? Regulation cuts both ways, however, and casinos may face stroke-of-the-pen risk that suddenly limits what they can or can't do and where they can do it. Furthermore, digitization is changing the game, pun intended. Whether it’s online poker or sports betting on your smartphone, innovation is forcing these players to adapt to changing consumer preferences, such as being able to wager anywhere on demand.

The 8 casino operator stocks we track reported a weaker Q4; on average, revenues beat analyst consensus estimates by 1.1% Valuation multiples for growth stocks have reverted to their historical means after reaching highs in early 2021, but casino operator stocks held their ground better than others, with the share prices up 4.2% on average since the previous earnings results.

MGM Resorts (NYSE:MGM)

Operating several properties on the Las Vegas Strip, MGM Resorts (NYSE:MGM) is a global hospitality and entertainment company known for its resorts and casinos.

MGM Resorts reported revenues of $4.38 billion, up 21.8% year on year, topping analyst expectations by 5.8%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates and a solid beat of analysts' revenue estimates.

"Our Las Vegas Strip Resorts and MGM China set new all-time records for full year and fourth quarter Adjusted Property EBITDAR," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts.

The stock is up 2.7% since the results and currently trades at $46.9.

Is now the time to buy MGM Resorts? Access our full analysis of the earnings results here, it's free.

Best Q4: Wynn Resorts (NASDAQ:WYNN)

Founded by the former Mirage Resorts CEO, Wynn Resorts (NASDAQ:WYNN) is a global developer and operator of high-end hotels and casinos, known for its luxurious properties and premium guest services.

Wynn Resorts reported revenues of $1.84 billion, up 83.1% year on year, outperforming analyst expectations by 5.9%. It was a stunning quarter for the company, with an impressive beat of analysts' revenue and earnings estimates. However, we note its earnings received a one-time boost from an income tax benefit related to the valuation allowance on certain deferred tax assets.

Wynn Resorts pulled off the fastest revenue growth among its peers. The stock is up 5.2% since the results and currently trades at $105.01.

Is now the time to buy Wynn Resorts? Access our full analysis of the earnings results here, it's free.

Weakest Q4: PENN Entertainment (NASDAQ:PENN)

Established in 1982, PENN Entertainment (NASDAQ:PENN) is a diversified American operator of casinos, sports betting, and entertainment venues.

PENN Entertainment reported revenues of $1.40 billion, down 12% year on year, falling short of analyst expectations by 9%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.

PENN Entertainment had the weakest performance against analyst estimates in the group. The stock is down 21.7% since the results and currently trades at $17.6.

Read our full analysis of PENN Entertainment's results here.

Golden Entertainment (NASDAQ:GDEN)

Founded in 2001, Golden Entertainment (NASDAQ:GDEN) is a gaming company operating casinos, taverns, and distributed gaming platforms.

Golden Entertainment reported revenues of $230.7 million, down 17.5% year on year, falling short of analyst expectations by 1.4%. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.

Golden Entertainment had the slowest revenue growth among its peers. The stock is down 4.6% since the results and currently trades at $35.32.

Read our full, actionable report on Golden Entertainment here, it's free.

Boyd Gaming (NYSE:BYD)

Run by the Boyd family, Boyd Gaming (NYSE:BYD) is a diversified operator of gaming entertainment properties across the United States, offering casino games, hotel accommodations, and dining.

Boyd Gaming reported revenues of $954.4 million, up 3.4% year on year, surpassing analyst expectations by 2.7%. It was a decent quarter for the company, with a beat of analysts' revenue and EPS estimates.

The stock is up 3.2% since the results and currently trades at $67.63.

Read our full, actionable report on Boyd Gaming here, it's free.

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