RRR – $27 to $9<\/li>\n<\/ul>\nMacau Nearing Clear?<\/b><\/h2>\n Kelley said part of his reasoning for issuing buy ratings on the aforementioned stocks is partly due to COVID-19 stabilization in China. The BoA analyst says he’s most bullish regarding US-based casino stocks that have exposure in Macau \u2013 MGM, Sands, and Wynn.<\/p>\n
Macau casinos were forced to close for 15 days in February, which resulted in gross gaming revenue (GGR) tumbling 88 percent for the month. They’re back open, but three new coronavirus positive tests this week prompted the enclave to restrict entries to travelers coming from China, Hong Kong, and Taiwan.<\/p>\n
Despite Kelley’s optimism regarding the gaming industry, JPMorgan said Thursday that it expects the coronavirus to be more devastating on the US economy than the 2008 financial crisis. The firm is predicting the US economy will shrink 14 percent in Q2.<\/p>\n","protected":false},"excerpt":{"rendered":"
Casino stock prices have plummeted in recent weeks because of the COVID-19 pandemic. But one gaming industry analyst believes the bottom has been reached, and now is the time to buy. Bank of America analyst Shaun Kelley has buy ratings for Wynn Resorts, Las Vegas Sands, Boyd Gaming, Penn National Gaming, MGM Resorts, Eldorado Resorts, […]<\/p>\n","protected":false},"author":25,"featured_media":130604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18943],"tags":[],"acf":[],"yoast_head":"\n
Gaming Industry Analyst Says Casino Stocks Present Buying Opportunities<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n