Casino Stocks Surge As NFL Approves Rangers’ Moving Plans

NEW YORK, NY / ACCESSWIRE / March 30, 2017 / The Rangers are moving to Las Vegas, and casino stocks are reacting astronomically well. Both Las Vegas Sands and Wynn Resorts’ stock prices registered gains by the end of business yesterday. Trade volumes are expected to rise significantly, with almost every other industry player deeming the move one of the best things to happen to Las Vegas in recent times. Casino stocks could remain up as mid-year approaches. Gaming wins in the Las Vegas strip downed last month with revenues increasing by slightly less than 9%. Here’s a closer look at the day’s happenings in the casino industrial sector.

RDI Initiates
Coverage:

Las Vegas Sands Corp. https://ub.rdinvesting.com/news/?ticker=LVS

Wynn Resorts, Limited https://ub.rdinvesting.com/news/?ticker=WYNN

The casino and resort operating company closed the day on a high, with the stock gaining 0.56% to close the day at $57.25. The upsurge is a reflection of the recent Raiders move to Nevada. The gambling mecca is set to reap heavily from the move, with its stock price comfortably going up by the day.

When the Raiders move to the desert, casino attendance will imminently go up, meaning more business for casinos. The direct effect on the stock price is already taking shape, with Wall Street analysts deeming the move “the most anticipated in recent times”. Boyd Gaming Corp and Capri Casinos Inc.’s shares are also setting new heights by the day.

Access RDI’s Las Vegas Sands Research Report at: https://ub.rdinvesting.com/news/?ticker=LVS

Wynn Resorts’ shares closed the day on a positive, to trade at $115.49, a 0.27% increase from the previous day’s value. There is no denying the Raiders’ move to Las Vegas will have a desirable effect for the casino industry. The plans to build a 65,000 capacity stadium are at the implementation stage, with the Raiders having already met the $750 million budget. Speaking to Wall Street Journal, Chief Executive Steve Wynn called the move “a game changer”.

The upsurge in stock prices in the industry is expected to continue, with industry experts speculating a positive reaction by investors; both current and potential.

Access RDI’s Wynn Resorts Research Report at: https://ub.rdinvesting.com/news/?ticker=WYNN

Our Actionable Research on Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (NASDAQ: WYNN) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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