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!