These Gaming Stocks Are The Big Winners
https://www.investors.com/research/i...tting-casinos/
Excerpt:
The Supreme Court on Monday struck down a law largely banning sports betting as unconstitutional, a ruling that will likely spur many states to legalize it.
However analysts have said the difference between expectations and reality means it may not be the revenue bonanza for casino stocks such as of Las Vegas Sands (LVS), Wynn Resorts (WYNN) and MGM Resorts (MGM) than it first appears.
In fact the biggest winners should actually be the strong regional players, such as Caesars Entertainment (CZR), Boyd Gaming (BYD) and Penn National Gaming (PENN). With their vast network of properties, they are the best poised to open sports books around the U.S., especially if states opt to limit the locations were such betting is allowed, rather than following the more laissez-faire approach of the United Kingdom, where bookmakers are an established part of the high street.
Caesars Entertainment shot up 5.5% on the stock market today. Boyd Gaming climbed 3.1%, Penn National Gaming 4.7% and Churchill Downs (CHDN) 4.9%. Penn National and Churchill Downs cleared buy points.
Las Vegas Sands and Wynn Resorts, which get most of their revenue from Chinese gaming mecca Macau, fell 0.8% and 2%, respectively. MGM Resorts, which has a big Macau exposure but is more Vegas-centric than Sands and Wynn, rose 1.6%.
