The casino sector is one part of the broader gaming industry focused on leisure and resort properties and casino gaming activities. Companies in the sector own and operate casinos, resorts, hotels, ski facilities, and racetracks in various locations worldwide. The sector also includes companies involved in online gambling. Big-name casino companies in the sector include Las Vegas Sands Corp. (LVS), Wynn Resorts Ltd. (WYNN), and MGM Resorts International (MGM). Many companies with large physical casinos have experienced dramatic quarterly declines in revenue and earnings in the past year due to the COVID-19 pandemic, having to shut down properties in response to the health crisis. Some of them recently were in the process of reopening. Online gambling, however, has surged as rising numbers of consumers choose to shelter at home.1
The performance of the casino sector can be gauged by the VanEck Vectors Gaming ETF (BJK), which includes both traditional casino companies and online gambling stocks. BJK has underperformed the broader market, providing investors with a total return of 14.2% over the past 12 months, below the Russell 1000’s total return of 20.2% as of January 27. All other statistics throughout are as of January 28.2 Read more…..
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Circa Resort & Casino is opening a brand new casino on Fremont Street in Las Vegas, tomorrow, despite the surge in coronavirus cases. Shepard Smith reports.