{"id":224035,"date":"2022-08-01T02:00:36","date_gmt":"2022-08-01T07:00:36","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=224035"},"modified":"2022-08-01T12:35:30","modified_gmt":"2022-08-01T17:35:30","slug":"caesars-penn-among-casino-stocks-with-rebound-potential","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/","title":{"rendered":"Caesars, Sands Among Speculative Stocks with Rebound Potential"},"content":{"rendered":"

The S&P 500 is still saddled with year-to-date loss of 13.26%. But the benchmark domestic equity gauge gained 8.32% in July, with contributions from some consumer discretionary names, including casino stocks.<\/p>\n

\"casino
The Las Vegas Strip. Credit Suisse sees opportunity with select casino stocks. (Image: TheStreet.com<\/em>)<\/figcaption><\/figure>\n

Caesars Entertainment (NASDAQ:CZR) and Las Vegas Sands (NYSE:LVS) were among the casino stocks<\/a> delivering July upside, gaining 13.46% and 12.14%, respectively, as market participants stepped back into the consumer cyclical sector. With that, Credit Suisse says new market leadership is emerging and some of it is attributable to \u201cspeculative\u201d names, including those in the gaming industry.<\/p>\n

With commodity prices falling and economic data softening, inflation is projected based on both breakevens and economist forecasts to steadily decline over the next 24 months,”<\/strong> Credit Suisse’s equity analysts wrote. “We believe this will lead the Fed to pivot toward more dovish policy as we move toward the latter part of the year, supporting a continuation of the market\u2019s current rally and factor leadership.”<\/strong><\/p><\/blockquote>\n

The bank defines speculative stocks as those with one or more of the following traits: High correlations to bitcoin, expensive earnings multiples, significant drawdowns on a 52-week basis, elevated volatility,<\/strong> and substantial short interest<\/a>.<\/p>\n

Caesars, Sands Check Those Boxes<\/h2>\n

On the basis of the aforementioned criteria, Caesars and Sands both appear on a Credit Suisse list of 50 stocks with speculative traits that could lead a new market rally.<\/p>\n

\n

Caesars fulfills the big drawdown, high short interest, and elevated volatility requirements, while LVS is beaten, expensive on valuation, and volatile, according to the bank. With both casino stocks coming off double-digit gains last month, it could be dangerous for bearish traders to visit these names for short selling purposes.<\/p>\n<\/div>\n

In the case of LVS<\/a>, it\u2019s believed that the news flow out of Macau cannot get much worse, and data confirms Marina Bay Sands (MBS) in Singapore is well on its way back to pre-coronavirus pandemic levels of profitability and top-line growth.<\/p>\n

Owing to its US focus, Caesars is in a more delicate position regarding potential vulnerabilities to inflation and a slowdown in consumer spending. On the other hand, Nevada casinos are coming off their best 12-month revenue<\/a> stretch on record. That’s meaningful to Caesars because it\u2019s the second-largest operator on the Las Vegas Strip and has properties in Laughlin and Reno-Tahoe.<\/p>\n

Other Casino Stocks on the List<\/h2>\n

Caesars and Sands aren\u2019t the only the casino stocks on the Credit Suisse speculative. As a big drawdown, high short interest name Penn National Gaming (NASDAQ:PENN)<\/a> is also on the list.<\/p>\n

That stock jumped 11% last month. Wynn Resorts (NASDAQ:WYNN) posted a July gain of 9.45%. The Wynn Macau operator appears on the Credit Suisse rankings owing to a massive drawdown, significant short interest, and above-average volatility.<\/strong><\/p>\n

Since June 16, the best-performing of the aforementioned factors is high correlations to bitcoin, followed by expensive valuations and those with big drawdowns.<\/p>\n","protected":false},"excerpt":{"rendered":"

The S&P 500 is still saddled with year-to-date loss of 13.26%. But the benchmark domestic equity gauge gained 8.32% in July, with contributions from some consumer discretionary names, including casino stocks. Caesars Entertainment (NASDAQ:CZR) and Las Vegas Sands (NYSE:LVS) were among the casino stocks delivering July upside, gaining 13.46% and 12.14%, respectively, as market participants […]<\/p>\n","protected":false},"author":46,"featured_media":224036,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[81897,81903],"acf":[],"yoast_head":"\nCaesars, Penn Among Casino Stocks With Rebound Potential<\/title>\n<meta name=\"description\" content=\"Speculative casinos stocks offer upside, according to Credit Suisse.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars, Penn Among Casino Stocks With Rebound Potential\" \/>\n<meta property=\"og:description\" content=\"Speculative casinos stocks offer upside, according to Credit Suisse.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-01T07:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-01T17:35:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/strip.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/\",\"url\":\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/\",\"name\":\"Caesars, Penn Among Casino Stocks With Rebound Potential\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/strip.jpg\",\"datePublished\":\"2022-08-01T07:00:36+00:00\",\"dateModified\":\"2022-08-01T17:35:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Speculative casinos stocks offer upside, according to Credit Suisse.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-penn-among-casino-stocks-with-rebound-potential\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/strip.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/strip.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The Las Vegas Strip. 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