The level of activity in Las Vegas is setting the pace for the US gambling industry, with Caesars and MGM leading the way. Greff, like other analysts, believes that gaming operators’ earnings per share will be higher than expected in the second quarter.
Since the beginning of 2021, Caesars’ stock has increased by 49.23%, while MGM’s price has increased by 38.18%. Both have seen drops this week, with MGM taking a bigger hit. But their overall performance is outpacing that of other gaming companies.
Part of the reason for the increased optimism is that casino operators are now referred to as gaming operators. Former casino operators have much more to offer as they enter new markets such as iGaming, sports betting, etc. This reflects in analysts’ increased support, as Caesars and MGM expect to capitalize on their expansion into online casinos and sports betting.