Analysts make positive 2021 projections for Las Vegas
Despite the difficulties of 2020, investment analysts have made a number of positive projections for US gaming and Las Vegas for 2021.
Although Macquarie analyst Chad Beynon believes Q4 2020 and Q1 2021 will follow similar patterns to currently reduced volumes, he thinks a pickup in the number of visitors over the next 60 to 90 days could provide encouraging signs for the rest of the year.
As such, in a research note, he placed Buy ratings on operators Caesars Entertainment, Las Vegas Sands and MGM Resorts International, with a Neutral rating on Wynn Resorts.
Meanwhile, Jefferies analyst David Katz feels investors should also be buoyed by the environmental, social and governance aspect of the gaming industry.
Indeed, Katz believes gambling stocks should no longer be categorised as a “sin” stock, with opinions in the US changing in favour of gambling.
Katz emphasised the fact a percentage of sector revenue is earmarked for social projects, while gambling equally improves the overall economic outlook for a region – something especially true of tribal gaming.
Las Vegas and Nevada saw gaming win fall 18% year-on-year for November, which was also a month-on-month decrease.
However, Nevada sportsbooks did register a record month, generating $61.8m in revenue.
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