Mountaineer Casino Reopening Date elivered the strong July 2021 performance. Slots won over 4. who owns sunset station casino 6 million from gamblers last month, a nearly six percent gain in July 2019. Slot machine win was the highest for the month of July since 2013, when there were twelve casinos operating,” Plousis told Casino. org. “Slot machines drove July 2021’s revenue increase. m.drake casino

”One strong month doesn’t constitute a full-blown recovery, but it’s a start. las vegas online casino no deposit bonus August looks promising, as an estimated 38,000 people descended on Atlantic City this past week for a three-day outdoor Phish concert. JPMorgan released a broad look at the gaming industry today, highlighting Boyd Gaming (NYSE:BYD), Caesars Entertainment (NASDAQ:CZR) and Red Rock Resorts (NASDAQ:RRR) as its top three ideas among the casino stocks it rates “overweight. Wild Horse Pab Casino Tower Mbzj ” Caesars’ Bally’s on the Las Vegas Strip, pictured above. Golden Nugget Casino Tier Match Lubr JPMorgan is bullish on three casino stocks, including Caesars. what shows are on at star casino gold coast (Image: Getty Images)Each of those names is tethered to the ongoing recovery in Las Vegas, which could be threatened by the delta variant of the coronavirus. Bovada Casino Usa Kjtq

Key Insights and Expert Analysis

JPMorgan says the emergence of the latest COVID-19 mutation isn’t yet hampering fundamentals for operators with deep Sin City exposure. free chips for zynga poker But the bank acknowledges investor sentiment could ebb and flow with case count and vaccination headlines. hallmark casino free spins Caesars is the second-largest operator on the Strip, while Boyd is the dominant company in downtown Las Vegas. Both Boyd and Red Rock generate significant portions slot casino vegasof earnings and revenue from Las Vegas locals (LVLs) — a demographic consisting largely of retirees and staffers from other casinos. Operators with strong LVL exposure reported stellar second-quarter results. But that segment could be challenged if the pandemic takes a dramatic turn for the worse. clearwater casino update

Still, JPMorgan is bullish on the aforementioned trio. Favorable position in the attractive LV locals market with RRR converting a high percentage of earning before interest, taxes, depreciation and amortization (EBITDA) to free cash flow (60-70 percent in 2022E-2025E),” said the bank. “Sustainable top-line growth underpinned by population growth and appealing supply/demand dynamics. ”With an influx of cash coming from the 0 million sale of the Palms announced in May, Red Rock has the resources to firm its balance and perhaps buyback shares. harrah s cherokee casino hotel rates “Balance sheet will soon be under-levered, which we think will lead to incremental share repurchases,” according to JPMorgan. Caesars Among Beloved Casino StocksUp 22.

55 percent year-to-date, Caesars is one of Wall Street’s favorite gaming equities, a status that’s the result of the company’s delevering efforts and its swift iGaming and sports betting expansion. riverwind casino hotels near JPMorgan says the Flamingo operator is experiencing strong leisure demand in Las Vegas and at its expansive portfolio of regional casinos. Fanduel Casino Customer Service Number Fumq The bank also highlighted Caesars’ plans to sell some assets to reduce debt and its online casinos and sports bettslot casino vegasing business, which it now controls 100 percent of the economics of by way of the recently completed William Hill acquisition. raging bull casino payout time free play slot game great blue Caesars has “an emerging online sports betting and iCasino opportunity, of which CZR owns 100% (brand, tech, first skin) and should be able to grow via its sizable database and national footprint,” said the bank. bicycle casino instagram Other catalysts for Caesars include “incremental entertainment, banquet/food and beverage revenues ramping up” and the possibility of steadiness in the operator’s convention and meetings business. fanduel casino app not working peppermill casino usa Lots to Like with Boyd, TooOver the course of the pandemic, Boyd Gaming is proving adept at expanding margins in both Sin City and regional markets, and analysts believe that trend is sustainable. hollywood casino earth city

Additionally, the operator has a compelling clientele mix. “Attractive footprint in localized/regional drive-to markets and LV Locals (which has recovered quickly and we think has legs) focused on the leisure gaming customer,” notes JPMorgan. blackjack casino montana Boyd’s sports betting exposure is often overlooked, but perhaps it shouldn’t be, because it owns five percent