Casino Stock Prices are Beginning to Surge

Wynn Macau

The US casino industry has been rapidly improving over the past year. Casino companies across the country continue to report solid revenue figures each month. It now appears that several major casino stock prices are starting to surge.

This is shaping up to be the best year in history for the casino industry. There are still some concerns that things could devolve, though.

Here’s what you need to know about this situation!

Las Vegas Reports Record-Breaking Revenue Figures for July

The entire US gambling industry suffered throughout 2020. For a time, it seemed that some of the country’s most powerful casino companies were on the brink of collapse. Things have turned around, though, and most of these companies are now thriving.

That is certainly the case with the casino operators based in Las Vegas. This past July, these companies on the Las Vegas Strip managed to bring in a staggering $793 million. Nevada’s total gross gaming revenue came out to $1.35 billion. Tourism numbers are surging here, yet remain below pre-pandemic levels.

These numbers represent the best month in history for the Las Vegas casino industry. There seem to be several reasons for these revenue surges. That includes the opening of Resorts World Las Vegas, the most expensive gambling venue ever opened in the city.

Many experts are now predicting another record-breaking month in August. Historically speaking, this is one of the best months of the year for the US casino industry. Millions have been flocking to Las Vegas over the past 30 days and many expect to see gambling revenue in Nevada hit new all-time highs.

These revenue increases seem to be having an effect on several casino companies’ share prices. Here’s what we know about these recent price jumps.

Several Major Casino Stock Prices Have Recently Surged

Back in March of 2020, all of the US casino operators saw their stock prices plummet. These companies were badly affected by the mass casino shutdowns ordered that month. Fortunately, most have seen their revenue figures rebound over the past year and a half.

New reports surfaced this week claiming that several companies saw large increases in their share prices. That includes Wynn Resorts, Las Vegas Sands, and MGM Resorts. Interestingly, these price hikes are not a result of the revenue surge experienced in the US.

Instead, these prices are jumping due to the events taking place in Macau. Earlier this week, news broke that Mainland China was removing its travel ban to and from Macau. This is almost guaranteed to result in a major gambling revenue surge for Macau’s casinos.

The aforementioned casino companies each own and operate casino-resorts in Macau. These casinos have been struggling immensely since 2020. If all goes according to plan, things will begin to really turn around for Macau’s casino industry this fall.

Sports betting revenue continues to rapidly increase around the United States, too. That was not necessarily the case this past July, though. Now is a great time to take a look at how much money the casino operators around the country brought in last month.

US Sports Betting Revenue Falters in July

For many years, sports betting in the United States was limited to Nevada. This was due to the Professional and Amateur Sports Protection Act. In May of 2018, the Supreme Court made history by removing PASPA and opening the country’s sports betting industry.

Every state now has the ability to legalize this form of gambling. More than half the county has already chosen to do so. Reports are now surfacing that shed light on how much money the sports betting operators in these states brought in last July.

Tennessee has just reported that it earned $129 million in total gross payouts. That is a large drop from the $159 million the state saw in June. August is almost guaranteed to be a significantly more successful month for the sports betting industry here.

Iowa saw its sports betting revenue drop for the fourth-straight month last July. $7.1 million was earned in total gross gaming revenue last month. That represents a more than 15% drop from the $8.4 million earned during the month prior. We’ll be sure to offer more updates on the sports betting industry revenue reports for August!

Are you surprised to see casino stock prices increasing right now? Will Macau’s casino industry begin to thrive? Let us know in the comments section below.

Experts Predict a Surge for One Major Casino Stock Price

Las Vegas Sands Stock Price

Casinos around the world continue to see fluctuating revenue figures. As a result, share prices for various casino companies have been fluctuating, too. One prominent analyst is now predicting a major surge for a casino stock price.

This could be a great opportunity for investors around the world. It is also exciting news for the company that could soon experience this stock price jump.

Here’s what you need to know!

US Casino Companies Report Revenue Increases

The US casino industry has been through the wringer over the past two years. Last year was devastating for all of the major casino operators around the country, including MGM Resorts, Wynn Resorts, and Las Vegas Sands. Incredibly, these companies have completely bounced back in 2021.

Most US casino companies have been reporting consistent revenue increases over the course of 2021. This trend doesn’t appear to be slowing down anytime, either. Many casino operators have been reporting solid numbers over the summer months.

MGM Resorts International has been benefiting from its operations in Las Vegas. This country’s primary gaming hub has set several monthly revenue records throughout the year. Overall, MGM Resorts’ revenue increased by 683% over 2021’s second quarter.

The US casino industry is faring extremely well right now. Not every country is experiencing the same level of gambling revenue surges, though. Over in Macau, casinos are still struggling to bring in tourists.

This doesn’t mean the situation in Macau will last forever. In fact, some analysts expect a surge in revenue here over the next few months.

Analyst Expects a Surge for One Casino Stock Price

Macau was once the most successful gambling hub on the planet. It’s here that several of the most successful casino-resorts ever built are located. Unfortunately, intense travel restrictions set by Mainland China have limited the amount of money that these properties have been able to generate.

There is reason to believe that Macau is braced for some solid tourism and revenue increases, though. China’s government has just announced it is set to remove its travel ban with Macau. This is very likely to result in a surge of visitors to Asia’s top gaming destination.

Quint Tatro, president of Joule Financial, spoke to MSNBC this week and claims one of Macau’s casino stock prices is set to surge. That is Las Vegas Sands’ share price. This company has focused much of its operations on Macau and it appears this will soon pay off.

“The easy play is Las Vegas Sands,” Tatro said. “It was March of just this year we were on here speaking about their abrupt shift and their sale of all their Las Vegas properties to basically double down and focus on their Asia exposure. At the time, I think it was a big question mark. It still has a difficult balance sheet, it’s not the greatest balance sheet, but they do have $2 billion now in unrestricted cash that they can put where they see the best opportunity.”

Las Vegas Sands has faced a huge number of issues over the past 20 months. It will be interesting to see how Macau’s rebound will affect the company moving forward. Stay tuned for updates!

Sports Betting Companies Expect Revenue Surge this Fall

The US sports gambling revenue has been surging since the US Supreme Court struck down PASPA back in May of 2018. This year has been the best ever for this industry. All major sports betting operators continue to report revenue surges.

This fall is expected to be the best in history for the US sports betting industry. The start of the 2021/2022 NFL season should help to fuel this revenue growth. Several new states are planning to launch their first sports betting platforms by the end of this season.

Ohio, Massachusetts, and North Carolina all seem very close to formally approving sports gambling legislation. Each of these states plans to allow both land-based and online sports betting.

Sports betting companies may also see their stock prices surge as a result of this revenue growth. It is an exciting time for this industry. Stay tuned for more sports betting revenue updates over the next few months.

Do you expect to see Las Vegas Sands’ casino stock price surge this month? When will Macau reach pre-pandemic revenue levels? Let us know in the comments section below!

Is this the Right Time to Buy Casino Stock?

The coronavirus continues to take a major toll on the gambling industry. Casinos across the United States are being forced to close down. Interestingly, some now believe that this is the perfect time to buy casino stock.

Paper On Stocks And Shares

Not everyone is interested in investing their money right now. For many, the coronavirus is already taking a major financial toll. Today, we’re going to look at how this virus is affecting casino workers, and discussing why some feel it’s the right time to put money back into this industry.

Let’s get into it!

Casinos Around the US Have Closed

As you probably know, the new coronavirus called Covid-19 has now spread around the entire country. In just a few weeks, it’s known to have infected more than 11,000 individuals. Due to the lack of mass testing available, it’s possible that many more actually have the virus.

Every state is taking its own approach to this virus. Some, like Florida, are taking a relaxed approach, allowing beaches to remain open. Many have condemned lawmakers in the state for not doing enough to stop the spread.

Other states are taking some extreme measures. In the San Francisco Bay Area, thousands of individuals are now legally required to self-quarantine at home. Nevada has officially called for all casinos and restaurants to close to the public.

In fact, many states are now forcing their casinos to shut down. This is proving to be devastating for a huge number of employees. The casino companies themselves are also losing millions of dollars every day due to these new regulations.

Unfortunately, it’s unclear when exactly things may begin to improve. Estimates vary, yet most agree that things will get considerably worse before they get better.

Some Believe Now is the Time to Buy Casino Stock

The US stock market has dropped faster than ever before. Many government officials believe we are now heading into a global recession. Some financial institutions actually claim this is a good time to begin investing money back into the stock market.

As we just mentioned, many casino companies are experiencing incredible drops in their stock prices. For this reason, certain individuals are encouraging people to buy casino stock. Shaun Kelley, a financial analyst, says he’s making this decision based on updated 2021 recession-level earnings outlooks.

“That said, our stocks are already pricing in significant liquidity concerns and we have long been aware of the financial/operational leverage in these companies,” Kelley said. 

Many casino companies with ties to Macau present good investment opportunities, he says. Not everyone agrees, though. Some feel that based on the way things are going, it’s best to avoid making any major investments.

Casino Companies Are Now Asking for Help From Congress

Despite some analyst’s calls to buy casino stock, things are still looking very grim for many of these companies. MGM Resorts International, Wynn Resorts, and Las Vegas Sands have all been forced to close down the majority of their gambling venues. Some are now asking for financial relief from Congress.

Earlier this week, several casino companies officially began requesting emergency aid. The American Gaming Association claims this situation is pushing many companies to the brink of collapse.

The AGA also points out how many individuals are at risk of losing their jobs. As more regulations are made across the country, more jobs inside casinos are likely to be lost.

It’s unclear what steps Congress will take to help these companies. Unless the situation improves quickly, however, it’s almost inevitable that some of these companies will fail.

Some feel this is the right time to buy casino stock. Make sure to stay tuned for updates on this situation over the next few months!

Las Vegas Casinos Warn Investors of Possible Impact from Coronavirus

Stock Market Shares Figures ListThe newly identified coronavirus SARS-CoV-2 was first identified and widely spread within China but has since made a global reach. According to the Johns Hopkins virus dashboard, 87,442 cases of the virus worldwide have been recognized.

With the virus spreading rapidly, Las Vegas casino operators have been feeling the sting in the stock market.

Amid the global outbreak concerns, stock prices have been on a steep decline. Shares at Las Vegas mega-properties have been affected.

MGM Resorts International shares have dropped a whopping 21.5 percent. Red Rock Resorts shares have dropped 17.5 percent. Wynn Resorts Ltd. shares have fallen 14.7 percent. Boyd Gaming Corp.’s shares have fallen 13.5 percent. Las Vegas Sands Corp. shares fell 11.9 percent. And lastly, Caesars Entertainment Corp. dropped 7.8 percent.

Within the same time frame, the Dow Jones Industrial Average also fell 12 percent.

On Jan. 30, the World Health Organization officially classified the coronavirus as a public health emergency on the international level. Health and Human Services Secretary, Alex M. Azar II, declared the outbreak a public health emergency for the United States, which would enable support for the healthcare community’s response.

“While this virus poses a serious public health threat, the risk to the American public remains low at this time, and we are working to keep this risk low,” Azar said. “We are committed to protecting the health and safety of all Americans, and this public health emergency declaration is the latest in the series of steps the Trump Administration has taken to protect our country.”

 

How Deep Will the Coronavirus Crisis Impact Gaming Circles?

According to Macquarie analyst, Chad Beynon, it’s difficult to gauge the depth of the potential impact because the depth of the crisis is still developing.

“The market, in our view, has moved from underappreciating the risk to potentially over-penalizing the stocks,” Beynon said.

As the situation continues to develop, casino operators are saying they will continue to monitor it closely, and have warned investors of the potentially adverse effect it could have on gaming operations.

In an annual report Wynn Resorts filed on Friday, they gave this statement regarding the outbreak that other casino operators are echoing:

The coronavirus outbreak “has had and will have an adverse effect on our results of operations.”

Wynn Resorts Shutdown in Macau

Of the Las Vegas casino operators, Wynn Resorts, who has three properties in Macau, China, has been hit the worst so far. The outbreak forced Chinese Officials to shut down Wynn Macau, Encore at Wynn Macau, and Wynn Palace for 15 days to reduce the risk of infection.

The shutdown caused the company to lose nearly $2.6 million in revenue a day, with the majority of the revenue loss generated from payroll costs.

The casinos were given the green light to reopen last week.

It’s unclear how far-reaching the outbreak will be and whether there’s an end date in near sight. Until then, Las Vegas casino operators will have to keep a close eye on developments alongside the rest of the world.

Is This the Right Time to Buy LV Casino Stock?

For months, some of the biggest casino companies in Las Vegas have seen their share prices decline due to the coronavirus in China. All casinos have been forced to close down, costing many companies millions of dollars. Things seem to be improving now, and many are wondering if this is the right time to buy LV casino stock.Stock Prices Picture

It’s an interesting time for the global casino market. Things are going well in Las Vegas, yet Macau continues to lose revenue. Today, we’re going to talk about why many feel this is the perfect time to purchase stock in several Las Vegas casino companies.

Let’s get into it!

Macau Proves to be a Troublesome Casino Market

Most of the world’s top casino operators currently have operations in Macau. For many years, this small Chinese territory was the most profitable gambling market in the world. It drew in millions of gamblers from around the world every single year and was home to a number of multi-billion dollar gambling venues.

Last year, things began to slow down here. The US-Chinese trade war had a serious impact on this territory. As China’s economy slowed down, fewer tourists from mainland China began traveling and gambling in Macau. This resulted in fewer junkets operating here and as time went on, revenue in Macau began to plummet.

This didn’t deter Las Vegas casino companies, though. Many of them continued to invest in properties here. As revenue continued to drop, however, LV casino stock prices dropped.

In December, the Wuhan coronavirus began to spread throughout China. By February, this virus infected tens of thousands of people around the country. Not long ago, officials in Macau chose to close down all casinos as a way to deter tourism. This is costing several Las Vegas casino operators millions of dollars every day.

Fortunately, there seems to be a light at the end of the tunnel. The virus infection rate seems to be slowing down. This could be huge for casino operations in Macau.

Bank of America Recommends Buying LV Casino Stock

Macau has always been a hot casino market. Some of the world’s biggest high-rollers gamble here and many casino companies earn the majority of revenue in this small territory. As the coronavirus begins to be eradicated, this market will start to improve.

This week, Bank of America began recommending to buy LV casino stock. The major US banking company believes that as the virus begins to level out, revenue in Macau will start to surge. As a result, Las Vegas casino companies with property here will see their share prices increase.

Shaun Kelley, a research analyst at Bank of America, commented on the potential share price increase to CNBC this week.

“2nd derivative [is] leveling out,”, he said. “The sequential and daily growth rates have been stable/declining for approximately a week. “Stock and investor reaction has been surprisingly muted relative to prior Macau corrections which we think owes to the passing nature of the threat and increasing China/global market liquidity.” 

This certainly makes sense. Due to Macau’s new regulations, several major Las Vegas casino companies have seen their share prices drop dramatically.

There might be a real opportunity to make some money. If China’s economy begins to improve again and Macau stops its hardcore casino regulations, revenue will start to surge.

Las Vegas Casino Market Continues to Improve

Las Vegas’ gambling revenue is always fluctuating. For more than a year, however, things have been steadily improving in this city. Casinos are continuing to rack in money and are showing no signs of slowing down.

Even sports betting revenue is increasing here. This is a surprise for some. More states around the country are beginning to legalize this form of gambling.

In fact, more than 20 states have officially legalized sports betting. It seemed that this would decrease the sports gambling revenue in Las Vegas. This is not the case.

Everything is running smoothly here. Casinos here took in an average of $1 billion per month last year. Sports betting revenue increased by 9.5% overall.

Amazingly, LV casino stock has been dropping lately due to the trouble in Macau. Hopefully, this will begin to improve.

Stay tuned for more Las Vegas casino news over the next few months!