Casino Stocks Today
Caesars Entertainment, Inc. Engages in the management of casinos and resorts under the Caesars, Harrah's, Horseshoe, and Eldorado brands. It operates through the following. Why Casino Stocks Are Trading Higher Today The global pandemic has been devastating to casino stocks in 2020 but optimism surrounding a COVID-19 vaccine has lifted a number of casino stocks. Top Casino Stock #2: Melco Resorts (MLCO) Melco Resorts owns and operates casino gaming and entertainment casino resort facilities in Asia. As Melco Resorts is the most leveraged to the gaming activity in Macau in this group of stocks.
The global pandemic has been devastating to casino stocks in 2020 but optimism surrounding a COVID-19 vaccine has lifted a number of casino stocks on Tuesday.
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MGM Resorts International (NYSE: MGM) is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.
MGM Resorts International shares were trading up 2.30% at $28.90. The stock has a 52-week high of $34.64 and a 52-week low of $5.90.
Wynn Resorts (NASDAQ: WYNN) operates luxury casinos and resorts. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas.
Wynn Resorts shares were trading up 2.40% at $102.91. The stock has a 52-week high of $153.41 and a 52-week low of $35.84.
Caesars Entertainment Corporation (NASDAQ: CZR) operates 49 casino properties in 13 U.S. states and five countries (with a sixth non casino resort in Dubai), primarily under the Caesars, Harrah's, and Horseshoe brands.
Caesars Entertainment Corporation shares were trading up 0.53% at $68.48. The stock has a 52-week high of $74.92 and a 52-week low of $6.02.
Monarch Casino & Resort (NASDAQ: MCRI) owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk.
Monarch Casino & Resort shares were trading up 1.74% at $56.18. The stock has a 52-week high of $57.57 and a 52-week low of $12.83.
Red Rock Resorts (NASDAQ: RRR) along with its subsidiary is a gaming, development and management company. The company mainly develops a strategically-located casino and entertainment properties.
Red Rock Resorts shares were trading up 0.39% at $21.83. The stock has a 52-week high of $27.91 and a 52-week low of $2.76.
Boyd Gaming (NYSE: BYD) is a regional casino company focused primarily on serving middle income customers. The company operates 16 casinos in Las Vegas, Atlantic City, Illinois, Indiana, Mississippi and Louisiana.
Boyd Gaming shares were trading up 0.18% at $38.56. The stock has a 52-week high of $40.69 and a 52-week low of $6.44.
Las Vegas Sands (NYSE: LVS) owns the Venetian Macao, Sands Macao, Sands Cotai Central Londoner, Four Seasons Hotel Macao, and Parisian in Macao, the Marina Bay Sands resort in Singapore, and the Venetian and Palazzo Las Vegas in the U.S.
Las Vegas Sands shares were trading up 1.71% at $56.66. The stock has a 52-week high of $74.29 and a 52-week low of $33.30.
Related Link: Wynn, Caesars Report Latest Brutal Casino Earnings
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© Provided by The Motley Fool Why Casino Stocks Are a Great Buy TodayCasino stocks were among the hardest hit when COVID-19 hit the U.S., and there hasn't been the same swift recovery we've seen in other sectors. But the gambling industry may not be as hard-hit as you might think. It's not like cruise lines, where ships are docked without customers. This isn't even the hotel industry, where business and leisure travel has dropped to a standstill.
Resorts in Las Vegas and across the country can still rely on gamblers coming in to play a few hands of blackjack or sit at a slot machine for revenue. And that will keep them afloat until a full economic recovery kicks in. When it does, MGM Resorts(NYSE: MGM), Wynn Resorts(NASDAQ: WYNN), Las Vegas Sands(NYSE: LVS), and Caesars Entertainment(NASDAQ: CZR) could crush the market.
© YCharts MGMLas Vegas is open for business
Resorts and casinos in Las Vegas shut down when COVID-19 hit in March, but started to open for business at the beginning of June. And customers have flooded back in more quickly than I expected.
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In July, gambling revenue was down just 39.2%, following a 61.4% drop in June. Clearly, customers are coming back and there seems to be momentum building.
Early indications are that travelers are slowly coming back, with hotel occupancy hovering around 35% last quarter and room rates down significantly across the Las Vegas Strip. But if casinos are still busy, it shows that revenue is flowing in, and when travel picks up we will likely see a quick recovery.
Macau is not so lucky
Despite the fact that China and Macau were hit by COVID-19 first, the region hasn't recovered as quickly as investors hoped. Gambling revenue was still down 94.5% each of the last two months, and travel restrictions in and around China will hold the region back for some time.
Given the reliance companies like Wynn Resorts and Las Vegas Sands have on Macau, it's not surprising their stocks are down big. But when a COVID-19 vaccine is released and travel restrictions around China are reduced, we've seen that the casino industry can recover extremely quickly.
Online gambling is the big upside
The new upside for 2020 is online gambling, and that's where I think a stock like MGM Resorts has the most upside. Online gambling is simply a product extension for these companies, and there's almost no risk to them financially. But for now, only Caesars and MGM have any sort of online offering.
Las Vegas Casino Stocks Today
We don't know how big the online gambling business will be long-term, but investors buying casino stocks today are getting a good foundation with existing resorts and adding in pure upside from online gambling.
There's value in casino stocks today
Long term, I don't think the earning potential for casino stocks has changed much at all. Resorts in the U.S. and Macau still have restricted supply, so as demand returns, so will earnings. You can see above that the U.S. has shown that demand can come back relatively quickly.
Not only is there an upside for regular casino operations, but the online gambling business could also be a bonus for shareholders. If it takes off across the U.S., stocks like MGM and Caesars could be growth stocks for years to come. The value investors are getting today is worth the bet in casino stocks.
Best Gambling Stock To Buy
Travis Hoium owns shares of MGM Resorts International and Wynn Resorts. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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