2 Casino Stocks You Should Consider

Sands of Las Vegas Stocks NYSE:LVS

With a recession on the horizon, investors must be more selective than ever. Analysts see significant upside in these two stocks.

Investors are concerned about the future of their portfolios, and for a good reason: there is much talk about a looming recession.

Let’s Take a Look at Two Recently Upgraded Casino Stocks.

Sands of Las Vegas stock (NYSE:LVS)

The company operates casinos and resorts, with most of its operations concentrated in Asia, particularly Singapore and China’s Macau region. Macau is among the world’s gambling capitals and China’s only legal gambling location.

There has been little business for casino operators in Macau in the nearly three years since China began enforcing strict lockdowns in response to the coronavirus outbreak – but that is about to change. Macau officials recently announced that tourists from mainland China would be allowed to visit the gambling city, and Chinese tour groups could arrive as early as November. According to Jefferies analyst David Katz, this is the moment the firm has been waiting for.

LVS stock (NYSE:LVS) has made some minor gains this year, but it is up more than 30% from its summer lows, which few other equities can claim, and it is gaining momentum. There is still significant upside potential for those who want to bet on a full recovery as Macau reopens, as the stock has recently set higher highs, and the MACD has recently crossed to the bullish side.

Wynn Resorts & Casinos (NASDAQ:WYNN)

Wynn Resorts, like Las Vegas Sands, is one of the leading casino operators in the Macau region, so the city’s reopening to Chinese tour groups bodes well for their business recovery. Despite recent macro headwinds, Wynn (NASDAQ:WYNN) delivered a record quarterly EBITDA of $227 million in the most recent quarter. They also reported record hotel revenue, bolstering the case for the long-term recovery potential available in this market.

Their shares have a long way to go before breaking out of their multi-month downtrend, but investors can consider July’s $51 level to be the low for the time being. From a technical standpoint, Wynn stock has a lot to like. The MACD has just completed a bullish crossover, and the rising RSI confirms that buying momentum is building.

Time To Invest in These Stocks?

There will undoubtedly be more market volatility ahead, but there are still stocks that can help you weather the storm better than others. Las Vegas Sands and Wynn Resorts may not have been on your radar, but they’re two casino stocks that have been battered over the last year and are now looking much more robust and more appealing.

Featured Image-  Megapixl @ Piter2121


About the author: Okoro Chinedu is a freelance writer specializing in health and finance, with a keen interest in cryptocurrency and blockchain technology. He has worked in content creation and digital journalism. Since 2019, he has written on various online platforms, and his work has been recognized by several important media sources and specialists in finance and crypto. In addition to writing, Chinedu enjoys reading, playing football, posing as a medical student, and traveling.