Viva Las Vegas: Tourists Enjoy Sin City, But Gambling? Depends Where
Portfolio Pulse from Anthony Noto
Las Vegas tourism is booming with increased overnight stays, but the gambling sector shows mixed results. Caesars Entertainment reported losses, while MGM Resorts, Las Vegas Sands, and Wynn Resorts saw revenue growth. Boyd Gaming also faced challenges.

June 05, 2024 | 1:04 pm
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NEGATIVE IMPACT
Boyd Gaming reported adjusted earnings of $1.51 per share, missing market estimates, and a decline in total adjusted EBITDAR.
Boyd Gaming's missed earnings estimates and decline in EBITDAR are likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Caesars Entertainment reported a loss of $158 million for Q1 2024, with a loss of 73 cents per share.
Caesars Entertainment's significant loss in Q1 2024 is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Las Vegas Sands reported quarterly adjusted earnings of 75 cents per share and net revenue of $2.96 billion, with a significant increase in net income.
Las Vegas Sands' strong financial performance in Q1 2024 is likely to positively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MGM Resorts reported quarterly earnings of 74 cents per share and revenues of $4.38 billion, showing growth compared to the previous year.
MGM Resorts' strong earnings and revenue growth are likely to positively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Wynn Resorts reported Q1 2024 revenues of $636.5 million from its Las Vegas operations, showing an increase from the previous year.
Wynn Resorts' revenue growth from its Las Vegas operations is likely to positively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 70
RELEVANCE 100