initial public offering earlier this year<\/a>, is another real estate trust McKnight favors. MGM Growth Properties, MGM’s REIT, tried to make a move to acquire VICI before it went public. McKnight is neutral on the MGM REIT.<\/p>\nNeutral on Casinos<\/b><\/h2>\n
McKnight is neutral on Las Vegas Sands, MGM Resorts, and Wynn Resorts after all three stocks slid after Q2 reports. Ongoing concerns in Las Vegas and Macau have pulled back the stocks after optimism flushed the sector following the US federal sports betting repeal in May.<\/p>\n
Analysts agree with McKnight. Bank of America downgraded Sands from “buy” to “neutral” last month. Goldman Sachs did the same with MGM, as did Jeffries Financial with Wynn.<\/p>\n
Investors and financial services firms will stand idle waiting for more summer data out of Sin City.<\/p>\n
Earlier this month, UNLV\u2019s Center for Gaming Research Director David Schwartz explained, “There are fears that Las Vegas has finally pushed its luck too far. For nearly all Americans, there are now places to gamble that are much closer.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Credit Suisse, one of the world’s most important multinational financial services firms, is once again issuing guidance on the gaming industry. And despite a recent Wall Street selloff, the agency is rather bullish on several casino-related stocks. After poaching gaming analyst Cameron McKnight away from Wells Fargo, the Swiss financial services company unveiled recommendations on […]<\/p>\n","protected":false},"author":25,"featured_media":85922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
Credit Suisse Returns to Gaming Industry, Likes Casino Real Estate Trusts<\/title>\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