Casino Stocks Sees A Surge This Week

Data provided by S&P Global Market Intelligence shows casino stocks prices gained across the industry last week. In the wake of the relaxation of some travel restrictions into Macao, stocks with exposure to the region such as MGM Resorts, Las Vegas Sands, and Wynn Resorts rose. Several U.S. casino operators have taken advantage of high online gambling volumes and expectations that low-interest rates will stay low for some time. Penn National, Caesars Entertainment, and Boyd Gaming made big gains. A review of the performance of these stocks from last Friday’s close through Thursday’s close can be found below.

Casino Stocks
Source is given

A Summary of What Transpired

The government of Macao has minimized the regulations it has imposed on the people due to the changes in the COVID situation. Consequently, casino stocks increase because tourist numbers increase.

MGM, Wynn, and Las Vegas Sands depend on Macao because it is the world’s largest gambling market. While regional gambling revenues fell from $2.84 billion in July of this year to $1.05 billion in July, they have remained high in recent years. Markets usually react positively to any good news in the region given how far it still has to go before fully recovering.

The United States was a hotbed for online gambling. After a difficult summer, online gambling is expected to pick up with the upcoming college football and NFL seasons. In spite of the strong comeback of brick-and-mortar casinos, there is room for more casual football betting online. As football becomes a cash generator from the online industry, MGM, Penn National, and Caesars stand to gain the most.

Casino stocks also enjoyed a positive week this week. Chairman Powell has said that the Fed will not let up on quantitative easing and interest rates too soon. Investing in casinos hopes that this will mean a prolonged low-interest-rate on debt, boosting both profitability and customer satisfaction at brick-and-mortar casinos.

What does the future hold for Casino Stocks?

Investing in casino equities once again will create growth companies if Macao recovers and Internet gaming develops. As it appeared like every piece of news for the industry this week was positive, it was a positive week for these stocks.

The businesses haven’t truly turned a corner financially. Despite some signs of hope, business is still weak, particularly in Macao, and we must wait for results. If Macao news or online gaming company news is less than positive in the coming weeks, don’t be surprised. This week, I keep my casino stocks.

While some Casinos are in legal trouble and others are not making the right moves, it is advisable to look at a casino’s current state before investing in their stock.


The post Casino Stocks Sees A Surge This Week appeared first on Curacao Casino.

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