MGM and Caesars Surge Following Strong Month for Baccarat and Sports Betting in Las Vegas
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Gaming Revenue Growth: Gaming revenue in Nevada rose 5.0% in October to $1.35 billion, with the Las Vegas Strip seeing an 8.2% increase, despite declines in downtown Las Vegas and Reno properties.
Table Games Performance: Table games experienced a significant 23% increase in revenue, driven by a 69% surge in baccarat, which helped offset a 2.1% decline in slot machine revenue.
Sportsbook Contributions: Sportsbooks reported a remarkable 105% increase in gaming win compared to the previous year, contributing to the overall strong performance of the gaming sector.
Stock Performance: Notable stock movements included Caesars Entertainment (+4.0%), MGM Resorts (+4.3%), and Wynn Resorts (+3.2%), while Bally's Corporation saw a decline of 3.0%.
Analyst Views on BJK
Wall Street analysts forecast BJK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BJK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 38.770
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Current: 38.770
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
