HG Vora Capital Management sold 1.5 million shares of MGM for $51.6 million in the third quarter, representing 7% of their AUM. They fully exited their MGM position, as disclosed in a filing with the SEC. Their top holdings now include PENN, CZR, DRVN, FAF, and R. MGM’s stock price was at $32.47 on Friday, down 13% over the past year. MGM Resorts International is a global operator of casino and entertainment resorts. HG Vora’s decision to exit MGM may signal a shift in their investment strategy within the leisure sector. MGM’s latest results show mixed earnings performance, with some bright spots but uncertainty ahead.

Read more at Nasdaq: Leisure Trouble at Home? Why This Investor Dumped $52 Million in MGM Stock