Gaming Stocks Bounce Back
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Price: $95.91 -0.21%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.6%
Revenue Growth %: +6.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.6%
Revenue Growth %: +6.3%
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Gaming stocks moved higher today, with shares of Wynn (NYSE: WYNN), Las Vegas Sands (NYSE: LVS), and MGM (NYSE: MGM) all posting gains. The outsized move appears to be related to rotation back into the sector after months of declining prices. Risk on! - as they say.
Las Vegas Sands (NYSE: LVS) is lower by 11.5 percent year-to-date. Early in the month, the company came under investigation for its gaming operation in Macau on allegations of bribery. There are also concerns today that the company will face further difficulty with its project in Spain, which comes in response to the investigation into its China operations. More troubling, investors are very worried that growth in Macau is slowing.
However, with valuations where they are, it was only a matter of time before investors found a reason to roll the dice once again. These companies run casinos after all, so how bad can the odds really be?
Las Vegas Sands (NYSE: LVS) is lower by 11.5 percent year-to-date. Early in the month, the company came under investigation for its gaming operation in Macau on allegations of bribery. There are also concerns today that the company will face further difficulty with its project in Spain, which comes in response to the investigation into its China operations. More troubling, investors are very worried that growth in Macau is slowing.
However, with valuations where they are, it was only a matter of time before investors found a reason to roll the dice once again. These companies run casinos after all, so how bad can the odds really be?
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