MGM Resorts International (MGM) stock soared 5.74% in Monday's trading session, despite facing potential headwinds from its sports betting operations during the NCAA March Madness tournament. The unexpected rise comes as the company's BetMGM sportsbook navigates through what has been described as a bettor-friendly college basketball season.

According to Christian Cipollini, trading manager at BetMGM, the March Madness tournament "has gone in the bettors' favor with favorites consistently winning." This trend, highlighted by an unprecedented all-No. 1 seed Final Four in the men's tournament, has generally been unfavorable for sportsbooks. BetMGM reported significant liabilities on teams like Duke and Florida, with approximately 40% of all money bet on the men's tournament winner placed on Duke.

The surge in MGM's stock price, despite these challenges, suggests that investors may be focusing on other aspects of the company's business or broader market trends. It's worth noting that this follows what sportsbooks described as the most "customer friendly" NFL season that online sportsbooks have ever seen, indicating a potentially ongoing shift in the sports betting landscape. As the men's tournament concludes with Monday's championship game, market observers will be keenly watching how MGM and other gaming stocks respond to the final outcomes and their impact on the bottom line.