Investors will likely pay closer attention to potential dealmaking than earnings when US-based casino operators prepare to report second-quarter results, as growth in the sector becomes scarce.
Casino Sector Growth
Mergers and acquisitions have emerged as one of the few possible catalysts for a sector that has struggled to regain investor favor despite steady demand in regional US gaming markets. Las Vegas visitor volumes rose 2% in May, year-on-year, to 3.49 million, according to the Las Vegas Convention and Visitors Authority.
Las Vegas Sands is scheduled to report results on July 22, followed by Caesars on July 28, MGM Resorts on July 29 and Wynn Resorts on August 4. Analysts believe incremental M&A activity is likely, with potential participation from Churchill Downs, Monarch Casino & Resort, Boyd Gaming and PENN Entertainment.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.