Let’s dig into the relative performance of MGM Resorts (NYSE:MGM) and its peers as we unravel the now-completed Q4 casino operator earnings season.

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 9 casino operator stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 0.9%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 24.9% since the latest 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 $4.35 billion, flat year on year. This print exceeded analysts’ expectations by 1.3%. Overall, it was a satisfactory quarter for the company with a solid beat of analysts’ EPS estimates.

"MGM Resorts is proud to report the best full-year consolidated net revenues in the history of the Company, driven by record performance from MGM China," said Bill Hornbuckle, Chief Executive Officer & President of MGM Resorts International.

The stock is down 25.9% since reporting and currently trades at $25.47.

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

Best Q4: Monarch (NASDAQ:MCRI)

Established in 1993, Monarch (NASDAQ:MCRI) operates luxury casinos and resorts, offering high-end gaming, dining, and hospitality experiences.

Monarch reported revenues of $134.5 million, up 4.9% year on year, outperforming analysts’ expectations by 4.4%. The business had a very strong quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

Monarch scored the biggest analyst estimates beat among its peers. The stock is down 17.4% since reporting. It currently trades at $70.84.

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

Weakest Q4: Bally's (NYSE:BALY)

Headquartered in Providence, Rhode Island, Bally's Corporation (NYSE:BALY) is a diversified global casino-entertainment company that owns and manages casinos, resorts, and online gaming platforms.