Shares of MGM Resorts International MGM have slumped 30.5% in the past three months, compared with the industry’s decline of 21.7%. The decline can primarily be attributed to coronavirus-induced woes. However, robust demand for sports betting, loyalty program and improving domestic operations are likely to drive performance. Let’s delve deeper and find out factors likely to bring the Zacks Rank #1 (Strong Buy) stock back on track.Factors Likely to Revive PerformanceSports betting and iGaming continue to be a major growth driver following the legalization of sports betting outside Nevada. The company continues to focus on sports betting expansion. Total contributions from BetMGM in first-quarter 2022 were $125 million compared with $75 million in the prior-year quarter. BetMGM continues to gain market share. In first-quarter 2022, BetMGM launched in four new states — New York, Illinois, Louisiana and Puerto Rico. It was rolled out in Ontario as well in April 2022. As of February 2022, BetMGM achieved a market share of 24% in the U.S. sports betting and iGaming space.BetMGM has a long-term growth target of 20% to 25% in U.S. sports betting and iGaming. Currently, the company is on track to achieve its target. Given the positive momentum in markets coupled with its unique and unparalleled online and offline offerings, the company remains optimistic about long-term growth, with revenue expectations of more than $1.3 billion in 2022. The company expects to achieve positive EBITDA in 2023. To drive growth, the company continues to invest in additional markets. MGM Resorts and Entain anticipate investing approximately $450 million in 2022. Meanwhile, MGM Resorts’ BetMGM announced that it has partnered with Gila River Hotels & Casinos and the Arizona Cardinals to expand its retail and online sports betting. The company announced a collaboration with Orix to build a world-class integrated resort in Japan.On Feb 1, 2022, the company rebranded its customer loyalty program from M life to MGM Rewards. The updated program emphasizes key opportunities, including targeting high-value non-gaming customers in addition to high-volume gaming customers, as well as incentivizing cross-property patronage and tier progression with more benefits. In first-quarter 2022, approximately 57% of its new database sign-ups came from BetMGM. With an unparallel collection of resorts and premier partnerships, the company anticipates attracting and retaining more high-value gaming, digital gaming and non-gaming customers in the upcoming periods.Although the company's operations in Las Vegas were negatively impacted by the decline in business volume and travel due to the spread of the Omicron variant at the beginning of the first quarter, sequential improvement has been witnessed since then. The company continues to benefit from pent-up consumer demand and high domestic casino spending in the Las Vegas market. This momentum in international leisure trends contributed to the upside. During the first quarter of 2022, net revenues at Las Vegas Strip Resorts were $1.7 billion, up 205% year over year.Image Source: Zacks Investment ResearchOther Key PicksSome other top-ranked stocks in the Zacks Consumer Discretionary sector are Bluegreen Vacations Holding Corporation BVH, Caleres, Inc. CAL and Hilton Worldwide Holdings Inc. HLT.Bluegreen Vacations sports a Zacks Rank #1. BVH has a trailing four-quarter earnings surprise of 85.9%, on average. The stock has increased 45.7% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for BVH’s current financial year sales and earnings per share (EPS) indicates growth of 11.2% and 35.1%, respectively, from the year-ago period’s reported levels.Caleres flaunts a Zacks Rank #1. CAL has a trailing four-quarter earnings surprise of 62.9%, on average. Shares of the company have increased 5.3% in the past year.The Zacks Consensus Estimate for CAL’s current financial year sales and EPS suggests growth of 4.8% and 0.7%, respectively, from the year-ago period’s levels.Hilton sports a Zacks Rank #1. HLT has a trailing four-quarter earnings surprise of 20.5%, on average. Shares of the company have declined 9.1% in the past year.The Zacks Consensus Estimate for HLT’s current financial year sales and EPS suggests growth of 41.1% and 93.3%, respectively, from the year-ago period’s reported levels. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MGM Resorts International (MGM): Free Stock Analysis Report Hilton Worldwide Holdings Inc. (HLT): Free Stock Analysis Report Caleres, Inc. (CAL): Free Stock Analysis Report Bluegreen Vacations Holding Corporation (BVH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research