Goldman downgrades MGM on slow Vegas recovery, says stick with Penn National Gaming

MGM Resorts will be closing all casino operations Monday, March 16, and hotels March 17. Here, the MGM Resorts International Bellagio Resort & Casino in Las Vegas.
Bridget Bennett | Bloomberg | Getty Images

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Goldman Sachs is ditching traditional casino stock MGM Resorts and looking to Penn National Gaming for growth in the world of gambling. 

The Wall Street firm downgraded shares of MGM Resorts to sell from neutral, sending shares of the gambling company down 1.5% in premarket trading on Monday.