As Vegas Comes Roaring Back, Casinos Look Bullish
The glitz and allure of "Sin City" (Las Vegas) are back in full force, according to the latest Nevada gambling reports, and physical casino companies like MGM Resorts International (NYSE: MGM), Caesars Entertainment (NASDAQ: CZR), Las Vegas Sands (NYSE: LVS), and Wynn Resorts (NASDAQ: WYNN) could be the beneficiaries. Craving excitement, Americans are swarming back to baccarat tables, roulette, $25 slot machines, and blackjack games. Investors may want to take a closer look at the current situation and why traditional casino enterprises may stand to gain more than online gambling companies like DraftKings (NASDAQ: DKNG).
The resurrection of Las Vegas gambling is in full swing, according to several reports issued on Sept. 30 by the Nevada Gaming Control Board and analysis provided in an email by high-profile Board research analyst Michael Lawton. Importantly, while gambling activity was brutally crushed by 2020's pandemic lockdowns, current gains are surpassing pre-pandemic levels also. Lawton remarked the "$1.2 billion in win" during August was "up 22.3 percent over 2019 and represented the sixth consecutive month that the state has recorded $1 billion in monthly gaming win."
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Source Fool.com
