Let's face it, 2022 has been a tough year for investors. And with its stock price down by 24% year to date, MGM Resorts (NYSE: MGM) hasn't escaped the carnage. But while these declines price in near-term macroeconomic challenges, the company's long-term thesis remains intact.

Let's discuss two reasons why shares in this dirt-cheap gambling giant look poised to skyrocket over the long term. 

As a tourism company, MGM Resorts was hit hard by the COVID-19 pandemic, which dramatically reduced tourism traffic in 2020 and 2021. But now the company is bouncing back from the crisis with a vengeance. 

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Source Fool.com