Gaming companies should report very robust results for the fourth quarter “driven by robust market growth in Vegas, a better-than-expected revenue environment in domestic regional markets (particularly in December), and continued solid performance in Macau,” argues Barclays analyst Felicia Hendrix.
Hendrix expects Las Vegas Sands (LVS), MGM International Resorts (MGM) and Boyd Gaming (BYD) to beat consensus expectations and for Penn National Gaming (PENN) and Wynn Resorts (WYNN) to report results in line with expectations. That said, “LVS and BYD are priced for perfection into the quarter.”
Most casino stocks were lower in midday trading, with WYNN taking the hardest hit.
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